In the News

“Even if you were a hard-nosed accountant who only cared about collecting money for taxpayers, it makes no sense to try and collect a loan by driving borrowers into poverty and preventing them from getting back on their feet,” Education Department Undersecretary James Kvaal said in his opening remarks during...

"For the most part, it's a great opportunity for borrowers," said Persis Yu, policy director and managing counsel at the Student Borrower Protection Center, in a call with MarketWatch.

“The sudden renewed interest in these refunds is, in part, people believing in the student loan system again,” said Michael Pierce, executive director of the Student Borrower Protection Center. He said the nonprofit spoke with borrowers early on in the pandemic who tried to submit written requests fora refund and...

“This additional relief for Pell borrowers is also an important piece of racial equity in cancellation,” said Kat Welbeck, Civil Rights Counsel for the Student Borrower Protection Center. “Because student debt exacerbates existing inequities, the racial wealth gap means that students of color, especially those that are Black and Latino,...

As the talks dragged on, the back-and-forth between the administration and outside groups grew tense at times. Groups complained that the administration wasn’t being responsive to their outreach. But a major strategy among advocates “was to never close doors and to show the administration that when they do good things...

As Joe Biden announced the details of his plan to help those with student loan debt, Kat Welbeck wrestled with the idea. For millions of Americans, the unprecedented relief would be “life-changing”, especially for low-income and Black and Latino Americans, who are disproportionately saddled with decades-long debt, she said.

"I think the administration is structurally attempting to fix many of the problems that have plagued the inconvenient payment system. Whether or not it gets the job done is going to depend on the details," said Persis Yu, policy director and managing counsel for the Student Borrower Protection Center, a...

"The White House is about to ask the Education Department to do something that is extraordinarily difficult, and that is going to have the effect of denying debt relief to low-income folks, economically vulnerable folks, who have the hardest time navigating these complicated paperwork processes," Mike Pierce, executive director and...

Chris Hicks, senior policy advisor at the SBPC, told Insider that it's unclear how many borrowers were told to make a payment to Aidvantage when nothing is actually due. He said the oversight is "causing borrowers an extreme deal of confusion and anxiety."

“Even if you were a hard-nosed accountant who only cared about collecting money for taxpayers, it makes no sense to try and collect a loan by driving borrowers into poverty and preventing them from getting back on their feet,” Education Department Undersecretary James Kvaal said in his opening remarks during...