For years, advocates, law enforcement, and regulators have been sounding the alarm on the impending Public Service Loan Forgiveness crisis. Millions of dedicated public servants have devoted their careers to serving their communities, based on the promise of the PSLF program. But now, as the first cohort of eligible borrowers...
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For the past two years, this country has seen huge rollbacks of protections for consumers—from attacks on servicemembers’ rights to rules that protect borrowers of color from discrimination. Each time we think we’ve hit rock bottom and start believing that it can’t get any worse, the Trump Administration pulls out...
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There has been a great deal of misinformation spread through state capitals about a special kind of private sector student loan company known as a "Guaranty Agency." Industry lobbyists have tried to convince lawmakers that these companies are not performing "student loan servicing" under the definition commonly included in state...
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We are used to thinking of the higher education financing crisis through the lens of a singular issue: student loans. But recent court settlements at for-profit colleges have shed light on a less traditional type of student debt: past-due financial accounts, otherwise known as accounts receivable. While defaulted student loans...
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There is a great deal of misinformation surrounding student loans in bankruptcy. Most people believe that anything called a “student loan,” or any debt made to a student, cannot be discharged in bankruptcy. This notion is fundamentally untrue.
Learn More The recent law enforcement crackdown on for-profit colleges is well documented. These schools mislead students by promising a fast track to a brighter future and then loaded students up with mountains of debt for worthless degrees—a form of consumer fraud that stretches back for decades. But the public may be...
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Readers of this blog will not be surprised at the sheer number of Americans who are burdened by student debt—more than 44 million—or the jaw-dropping aggregate debt load that easily tops $1.4 trillion dollars. Nor will readers be surprised that borrowers are struggling under the weight of that debt. What...
Learn More Today, the Student Borrower Protection Center partnered with the Kentucky Equal Justice Center (KEJC) to support Attorney General Beshear’s fight to protect student loan borrowers.
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Hundreds of thousands of student borrowers, including 42,000 veterans, qualify to have their student loans cancelled because of a total and permanent disability (TPD). Yet few eligible borrowers take advantage of this benefit, in part because they have to actually ask for it. The Department of Education (ED) knows who...
Learn More This week, we announced a new partnership between the University of California, Irvine School of Law and SBPC. Our project, the Student Loan Law Initiative, is a first-of-its kind collaboration between scholars and advocates to bring an end to the student debt crisis by creating a new foundation of legal...
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