In the News

“Appointing Cordray to lead the Department of Education’s office of Federal Student Aid is a great step, showing that this Administration is serious about doing what’s necessary to protect borrowers and address the student debt crisis," said Seth Frotman, executive director of Student Borrower Protection Center, a legal and policy...

Cordray led the bureau’s crackdown on consumer abuses in debt collection, student loan servicing and for-profit colleges, garnering the respect of advocates and drawing the ire of those industries. His selection signals tougher oversight of the Education Department’s contractors and enforcement of the rules governing federal student aid.

Richard Cordray, a close ally of Senator Elizabeth Warren who served as the first director of the federal Consumer Financial Protection Bureau during the Obama years, has been selected as the new head of federal student aid in the Biden administration, a post that will put him at the center...

Now, advocates are calling on the U.S. Department of Education to more aggressively monitor these arrangements after years of evidence that the current approach to the rules isn’t doing enough to protect students from potentially harmful financial products.

“What is so infuriating about this is that the Department of Education knows every single military borrower, because they have to do the match for purposes of the Servicemembers Civil Relief Act,” Frotman told Yahoo Finance. “The federal government has all the information they need to figure out and determine...

Almost 3 million people are employed by the Department of Defense, many of whom are performing a quintessential form of public service: Serving in the armed forces. But as of January of last year, just 124 members of the military had their student loans discharged under the Public Service Loan...

A coalition of consumer advocacy groups wants the Office of the Comptroller of the Currency to investigate a Virginia bank's involvement in a student lending product it claims skirts consumer protection laws.

For Washington, the embrace of such demands marks a striking change, as an idea advanced by anti-corporate greed Occupy Wall Street activists a decade ago - and resoundingly rejected by the Trump administration - moves to the heart of political debate.

The Student Borrower Protection Center, a leading student loans advocacy organization, says the student loan forgiveness program not only should be overhauled, but that Biden’s Education Department should take a more proactive stance: cancel federal student loans for public servants who serve for at least 10 years—regardless if they completed...

Talks of forgiving student debt continue as 45 million Americans get a student loan bill. Some programs already exist to relieve debt, but don’t have a widespread reach. Hear from Seth Frotman, executive director of the Student Borrower Protection Center.