Media

Testimony in support of legislation which defines and addresses some of the most critical elements affecting students in the event of a disorderly school closure.

We’ve put together some helpful questions to the agencies in an attempt to get a handle on what this new scheme means for borrowers. The answers to these questions will determine whether borrowers are getting a bad deal and also whether these agencies are breaking the law.

The SBPC’s analysis of fintech and banking products uncovered cases where a prospective borrower may be hit with thousands of dollars in additional credit costs if he or she attended a community college, an Historically Black College or University (HBCU), or an Hispanic-Serving Institution (HSI).

Attending college can be one of the most important and expensive financial decisions in a person's life. Adding to that expense, many financial institutions and schools partner to offer and aggressively market their banking products on campus. Students with these accounts often end up paying hundreds of dollars or more...

Student Borrower Protection Center Executive Director and former CFPB Student Loan Ombudsman Seth Frotman released the following statement on yesterday's interagency announcement and CFPB's continued failure to oversee student loan companies.

Every day, consumer reporting companies across the country collect information and produce reports about hundreds of millions of Americans. These reports are provided to or bought by other companies and used to determine access to credit, employment, housing, insurance, and more. The information contained in the reports significantly impacts millions...

As reports of widespread servicing breakdowns leading to significant borrower harm continue to emerge, it is critical that we examine the disparity in loan performance between borrowers of color in comparison to their white peers, the role of student loan servicers in exacerbating these outcomes, and the federal inaction that...

Student Loan Giant Accused of Cheating Public Service Workers Moves to Block Montana Legal Services Program from Advocating for Low-Income Borrowers’ Rights HELENA, MT — This week, student loan servicer Pennsylvania Higher Education Assistance Agency (PHEAA), also known as FedLoan Servicing, urged the Montana Supreme Court to reject a brief...

For too long, the student loan industry has sought to sell judges on exotic legal theories to absolve these companies of the consequences of their abuses and deny borrowers their day in court. Today’s amicus brief, co-authored with Montana Legal Services and National Consumer Law Center, is the most recent...

The student debt crisis is a consumer protection crisis. All across the market, companies premise their business models on abusing student loan borrowers, preying on the most vulnerable among us. Yet the 45 million borrowers struggling under the weight of unprecedented student debt are guaranteed fewer rights and protections than...