Press Releases

In light of the planned termination of the student loan payment pause and these new economic data, SBPC Executive Director Mike Pierce released the following statement.

The SBPC is announcing new additions to the organization’s Advisory Board. The new slate of members are nationally recognized policymakers, advocates, and experts who bring decades of consumer financial protection, higher education, and social justice expertise to support the SBPC’s mission to end the student debt crisis.

The CFPB announced that it finalized a rule to facilitate the financial services industry’s transition away from LIBOR. In response, SBPC Head of Investigations and Senior Policy Advisor Ben Kaufman issued the following statement.

More than 200 organizations called on President Biden to delay restarting federal student loan payments for tens of millions of borrowers in light of the new omicron variant hampering the economy, upcoming loan transfers affecting millions of borrowers, and new data showing  that borrowers are not financially prepared to restart...

The affirmed its authority to supervise large student loan servicers and stated that it “has been and will continue to conduct supervisory examinations” of large student loan servicers.

The SBPC and a coalition of the nation’s largest unions representing millions of public service workers sent letters to large student loan companies demanding immediate action to ensure successful implementation of ED's recent overhaul of PSLF.

Upstart, the NAACP Legal Defense and Educational Fund, and the SBPC today announced the release of the second report from the independent auditor under its groundbreaking agreement to transparently review the fair lending outcomes of Upstart’s model and assess best practices in the use and testing of alternative data in...

On Friday, a court ruled that Maximus Inc., a company that recently became the U.S. Department of Education’s largest student loan contractor, is not above federal consumer protection law and that the case brought by victims of its predatory and illegal debt collections practices may proceed to trial.

The SBPC, a national nonprofit working to end the student debt crisis, announced that SBPC co-founder Mike Pierce will serve as the next executive director of the organization and Persis Yu will join as the SBPC’s new policy director and managing counsel.

The SBPC and NCLC released the following statements in response to press reports that ED is weighing but has not yet taken steps to protect millions of federal student loan borrowers from the harsh consequences of default.