In the News

While Mr. Biden has so far fended off calls for the kind of blanket debt cancellation that is a top priority of many progressive lawmakers, a parade of relatively modest eligibility and relief enhancements adds up to a significant expansion of support for beleaguered borrowers. And more may be coming: The...

After the news broke, the Student Borrower Protection Center wrote to the U.S. Department of Education, calling for it to address “ongoing violations” of laws and regulations related to ISAs, including loan co-branding by colleges with ISA providers.

When analyzing what those projections mean for future enrollment in the program, the report estimated that over 2.2 million borrowers will likely have declared their intent to pursue PSLF by 2026, meaning that only one in eight borrowers will obtain relief by that time.

There are about 1.3 million people pursuing Public Service Loan Forgiveness, a program that cancels federal student debt after 10 years of on-time payments for people who take public-sector jobs. But just 1 in 5 of those borrowers are on track to secure relief by 2026, according to an analysis released...

America's top consumer finance watchdog is taking action against an alternative education finance provider advised by an Obama-era Education Department official for allegedly misleading students about income-share agreements.

That’s one conclusion from Department of Education data published Thursday by the Student Borrower Protection Center. The data, released to the nonprofit advocacy group through a Freedom of Information Act request, also indicate that borrowers are owed more than $37 million in wages seized between March 2020 and June 2021...

Frotman spoke to The Associated Press about the Biden administration's decision to extend the student loan repayment moratorium and other issues facing the $1.5 trillion industry.

The SBPC, which advocates for borrowers’ rights, released a report in July showing for-profit colleges disproportionately established themselves in minority communities and engaged in predatory practices leaving students in significant debt.

Over the past decade, a number of for-profit schools have shut down over accusations of misleading students and leading them to take on more debt than they can pay off. A recent report found those schools target minority communities that were already disproportionately burdened by student debt.

State authorities in California struck a deal with a fintech firm to treat a controversial finance product known as income-share agreements as student loans, requiring compliance with the state’s student borrower protection laws.