We want to better understand the pain points student loan borrowers are facing when navigating their finances amid the coronavirus pandemic. That is why we are encouraging borrowers to share their stories by participating in our new survey aimed at identifying where these widespread errors and breakdowns are occurring in...
Learn More Thanks to new evidence obtained by U.S. Senator Patty Murray, we are finally beginning to understand in detail how many people across the country are being denied PSLF.
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In conjunction with the release of the report, "Broken Promises: Employer Certification Failure," the SBPC released two new sets of documents and records that have never before been available to the public.
Learn More Despite industry assurances that the private student loan market is free from borrower distress, a closer examination of outcomes suggests that certain subsets of borrowers disproportionately struggle with private student debt—namely, Black and Latinx borrowers.
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A new report finds that while ISAs are a relatively recent development in the student loan market, they share important common features with well-established loan products and fall squarely within those statutes.
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The SBPC found that the company’s use of this data resulted in ‘educational redlining,’ penalizing borrowers who attended minority-serving institutions. Upstart’s practices highlight key problems related to the use of educational criteria in underwriting, federal fair lending laws, and equal credit access.
Learn More Although the U.S. is desperately in need of solutions for the student debt crisis—and the accompanying racial and ethnic disparities—features of existing Income Share Agreements threaten to exacerbate these inequalities.
Learn More Lenders offering Income Share Agreements (ISAs) claim they have found the perfect loophole to sidestep federal law. They argue that ISAs are “not credit,” and therefore federal consumer financial laws don’t apply. These companies have bet their business on this assumption, accruing massive liability if they are wrong.
Learn More The SBPC is announcing an unprecedented exploration into the role that consumer protection laws play in safeguarding borrowers from the harms posed by ISAs. Over the next month, we will release a paper series, authored by legal experts at the forefront of consumer law, exploring how ISAs fit into existing...
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To help provide guidance, here are answers to some frequently asked borrower questions about managing student loans during the coronavirus pandemic and beyond.
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