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The results of a new investigation published today by the SBPC offer new evidence that for-profit coding bootcamps and ISA companies may be systemically violating federal law by omitting a legally mandated term from the contracts underlying students’ ISAs—language required under the Federal Trade Commission’s (FTC) “Holder Rule.”

An issue brief published by the SBPC and the Center for Consumer Law & Economic Justice at the UC Berkeley School of Law makes clear that the CFPB already has the power to hold for-profit colleges accountable for many of their worst practices and to protect borrowers from abuse.

That small slice of borrowers shows that the programs aren’t doing enough to protect borrowers from being trapped in a lifetime of debt, according to a report released this week by the National Consumer Law Center and the Student Borrower Protection Center.

Eleven state financial regulators are calling on Education Secretary Miguel Cardona to rescind Trump-era regulations that they say are insulating student loan servicers from more oversight.

SBPC Executive Director Seth Frotman released the following statement in support of today’s demand by a bipartisan coalition of 11 state financial regulators that the U.S. Department of Education immediately reverse policies that block oversight of the student loan industry.

Kat Welbeck, a civil rights counsel at the Student Borrower Protection Center, said lack of generational wealth plays a role in student debt. She pointed out that Black and Latino students tend to have higher debt burdens because their families don’t have the financial resources to pay for college, so...

Congress wrote a law promising forgiveness to student loan borrowers who make two decades of on-time payments. But that promise has fallen short, according to a new report. Of the roughly two million borrowers on the plan who have been making payments for more than 20 years, only 32 individuals...

Approximately two million student loan borrowers are currently trapped in undergraduate debts more than two decades old, and, according to ED data just 32 borrowers have ever qualified for loan cancellation through the federal government’s IDR program.

While the legislation does not outline any direct student loan relief, lawmakers continue to debate how to remediate the debt crisis. Mark Huelsman is a fellow at the Student Borrower Protection Center and has been researching student debt for years. In an interview with News 3 Reporter Erin Miller, he...

For years, this has been the animating theory of American student loans. They’re not a shortcut to the middle class or a cheat code, but a high-stakes workaround, a back route, a way to give yourself the bootstraps so you can actually pull yourself up by them. A half-century into...