Press Releases

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.

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...

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...

Given growing evidence of widespread predatory practices across the student loan industry as federal regulators are charged with failing to to their job of protecting borrowers, the organizations co-sponsoring AB 376, the California Student Borrower Bill of Rights, are doubling down on their call to the state legislature to pass...

Today, Democracy Forward, on behalf of Student Debt Crisis, sued the Trump administration for shirking their legal obligation to supervise large student loan servicers, specifically those servicing federal loans. The suit, filed against Trump-appointed Secretary of Education Betsy DeVos and CFPB Director Kathy Kraninger and their respective agencies, cites efforts...

The Student Borrower Protection Center (SBPC) is announcing the addition of six new team members to support the organization's work to end the student debt crisis. New staff include: Tamara Cesaretti as Counsel; Rebecca Maurer as Counsel and Program Manager for the Student Loan Law Initiative; Kat Welbeck as Counsel;...

Today, New York Attorney General Tish James sued student loan giant Pennsylvania Higher Education Assistance Agency, also known as PHEAA or FedLoan Servicing, for cheating teachers, nurses and other public service workers out of their right to loan forgiveness. In the face of mounting lawsuits and growing evidence of widespread...

Newly unsealed court documents reveal executives at the nation’s largest student loan company orchestrated a predatory scheme to place borrowers in high-cost repayment options to boost corporate profits. Reliance on these high-cost options, known as “forbearances,” resulted in more than $4 billion in unnecessary interest charges passed on to borrowers,...

Trump Administration’s Selection of Industry Insider for Nation’s Student Loan Watchdog Heightens Urgency to Pass AB 376 to Protect California Student Loan Borrowers Recent Revolving-Door Hire is Further Proof Washington is Failing to Stand up for Borrowers The Trump Administration’s appointment on Friday of a student loan industry executive to...

Student Borrower Protection Center Executive Director and former CFPB student loan ombudsman Seth Frotman released the following statement on today’s announcement by the Bureau that student loan industry executive Robert G. Cameron will serve as the Bureau’s student loan ombudsman.