Recently, lawmakers have been raising the pressure on the CFPB to fight for student loan borrowers, calling on Director Kraninger to get to work. Below is a recap of lawmakers' recent exchanges with Director Kraninger around the Bureau's failure to stand up for student loan borrowers and the need for...
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What Betsy DeVos’s Brush with the Law Reveals About Our Broken Student Loan System By Mike Pierce | October 24, 2019 Earlier this month, a federal judge in California held a hearing to consider whether Education Secretary Betsy DeVos should be held in contempt of court. At issue: student loan...
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Students also look at the total cost of the program and determine whether they qualify for financial aid and student loans. In doing their homework, students generally trust the information they get from these schools or programs because they assume some government agency is making sure schools tell the truth....
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Supporting States in the Fight to Protect Borrowers By Walter Suskind | September 23, 2019 States are on the front lines of the student debt crisis. State legislators and policymakers are among the first to hear stories of struggling borrowers, learn about industry abuses, and spot problems and trends in...
Learn More Yesterday, over the objections of Navient’s attorneys, a federal judge unsealed a trove of new documents revealing a years-long, coordinated effort by company executives to cheat student loan borrowers out of their rights.
Learn More Today, a coalition of national and local non-profit organizations joined together in filing an amicus curie brief in support of the Pennsylvania Attorney General’s Office versus large student loan servicing company Navient.
Learn More Tomorrow, the House Financial Services Committee’s Fintech Task Force is holding a hearing on the use of alternative data to expand access to credit. It is critical that the Committee examine what I believe is a dangerous and discriminatory trend—the use of education data for determining creditworthiness under the guise...
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there's good reason to think that some, if not all, ISAs involve a debt and are therefore "credit," for various federal regulatory purposes. The most natural read of the statutes is that ISAs are credit and subject to the full panoply of federal consumer finance regulations. Certainly from a purposivist...
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Betsy DeVos Wants to Give a Free Pass to the Student Loan Company That Ripped Off 78,000 Servicemembers By Austin Evers and Seth Frotman | June 18, 2019 Last week, the U.S. Department of Education’s student lending arm, the Office of Federal Student Aid, radically changed the landscape of its...
Learn More The Trump Administration has raised the stakes for tens of millions of borrowers, pulling down planned consumer protections while advancing a sweeping new proposal that will cause more than 37 million borrowers’ loans to change companies in the coming years. The following guest post from Persis Yu, Director of the...
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