In the News

A new report issued last week provides new evidence that the U.S. Department of Education and its loan servicers may have damaged the credit of thousands of student loan borrowers as it implemented a freeze on federal student loan payments that began last year.

Problems with student loan debt pushed Congress to create a seemingly straightforward law in the 1990s to help borrowers lower default rates by consolidating debt with their spouses. Two decades later, divorced borrowers are struggling with the unforeseen consequences.

The Student Borrower Protection Center (SBPC) and the NAACP Legal Defense and Educational Fund, Inc. (LDF) sent a joint demand letter to Stride Funding, a higher education lending company, following an SBPC report that their income share agreements are pricier for students who attend minority serving institutions like historically Black...

But the scope of the economic crisis created by the pandemic, and the fact that borrowers who graduated before 2007, like Heaps, have weathered two massive financial downturns in their professional careers, is bolstering the argument that major fixes are needed. Although student-loan forgiveness did not make it into the...

While advocacy groups welcomed the Education Department’s decision Tuesday, they continue to urge the Biden administration to help an estimated 5 million other people who are still making payments on their commercial FFEL loans.

The Department’s announcement Tuesday only applies to borrowers with commercially-held FFEL loans who defaulted on their debt. Borrower advocacy groups have been urging the Biden administration to extend the payment pause to all borrowers with commercially-held FFEL loans. They estimate that more than 5 million borrowers have this type of...

All of the roughly 5 million borrowers holding about $135 billion in debt from privately-held FFELP loans were left out of federal protections amid the coronavirus pandemic.

The Education Department (ED) announced plans to cancel about $1.3 billion in student loan debt for 41,000 borrowers who had previously qualified for discharge but failed to receive it because of incomplete paperwork and waived certain procedures for another 190,000 borrowers.

Across the state and the nation, private student loans are exacerbating the racial wealth gap, trapping people of color in inescapable cycles of debt. In fact, Black borrowers struggle to pay back private loans at four times the rate of white borrowers. Tackling private student loan debt is an urgent...

Quinn is among the 42.9 million Americans who had federal student loans as of last year, according to the National Student Loan Data System. Meanwhile, Federal Reserve Board statistics show outstanding student loans overall have swelled to $1.7 trillion, surpassing the nation's auto loans and credit card debt. Seth Frotman,...