Press Releases

Fighting Chance for Families released a new poll revealing that almost half of borrowers expressed no confidence in their ability to make student loan payments should the Biden administration restart payments in February 2022 as planned.

In the past month, the rapid spread of the Omicron variant has driven new COVID-19 cases to record levels as the dual threats of economic instability and historic inflation batter American families this holiday season. Yet, as recently as last weekend, senior Biden Administration officials had reaffirmed the administration’s intention...

Two former students, with the support of the SBPC, filed lawsuits against a predatory online bootcamp scheme and a nationwide provider of ISAs, alleging widespread deceptive practices, illegal lending, and unlawful collection of student loans.

The SBPC, as part of the Student Loan Law Initiative, released a report, Revisiting Debt Relief, featuring contributions from leading student loan experts scoring the Biden administration’s efforts to deliver student debt relief in its first year.

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.