In the News

Assemblymember Blanca Pacheco introduced a bill that would prohibit California schools from withholding degrees or certificates from students if they owe money.  “With the current enrollment crisis, it is important that we help students with removing barriers in attaining their higher education goals and understand what else we must do to address...

Leading advocacy organizations for student loan borrowers had harsh words for SoFi. Criticizing SoFi’s CEO as “a financial vulture gorging himself on our bloated and broken student loan system,” Student Borrower Protection Center’s Executive Director Mike Pierce said in a statement that, “The real story here is the huge risk...

Ella Azoulay [Research & Policy Analyst, Student Borrower Protection Center], a 26-year-old who lives in Washington, visited the rally to join the push for debt relief, which she calls a “family issue.” A 2018 graduate of New York University, Azoulay has $40,000 in student debt, while her dad has more...

Founded in 2011, SoFi “was once the leader of a booming private student loan refinancing industry,” according to to the Student Borrower Protection Center (SBPC), a nonprofit advocacy group. SoFi’s stock price has plummeted by more than 70% since its peak. “SoFi CEO Anthony Noto is a financial vulture gorging...

“The real story here is the huge risk this [lawsuit] poses to tens of millions of working people who SoFi would never lend to — families across the country that depend on the student loan payment pause to shield them from financial devastation,” said Mike Pierce, executive director of the...