Press Releases

With 2.3 million New Yorkers owing nearly $100 billion in student loan debt, legislators in Albany are slated to pursue an aggressive agenda to protect borrowers against predatory student loan companies. To highlight this package of legislation during a time when so many borrowers are in need of more action...

The SBPC and the NAACP LDF today sent a demand letter to Stride Funding, LLC raising concerns that the company’s lending model may violate federal fair lending law by penalizing student borrowers for attending HBCUs and other minority-serving institutions.

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.

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.

SBPC Executive Director Seth Frotman released the following statement on President Biden signing an executive order to extend the student loan payment pause for federal student loan borrowers.

President-elect Joe Biden announced that he will nominate FTC Commissioner Rohit Chopra to be the next Director of the Consumer Financial Protection Bureau. Student Borrower Protection Center Executive Director Seth Frotman issued the following statement.

Agreement marks new standard for fair lending oversight in financial technology.

The SBPC and Dēmos released a new report featuring contributions from leading student loan experts and advocates outlining how the Biden administration can take immediate action to cancel student debt for millions of Americans.

The report identifies over five million new ACS servicing errors that contributed significantly to the PSLF program’s failures and derailed promised loan forgiveness for hundreds of thousands of borrowers. These failures continue to plague public service workers seeking access to loan forgiveness today.

SBPC Executive Diretor Seth Frotman released the following statement on a senate resolution calling on the President to use existing authority under the Higher Education Act to provide broad-based debt cancellation to tens of millions of student loan borrowers.