Press

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.

Student loan debt relief scams aren’t new. In fact, consumer advocates say they were actually declining thanks to a 2017 operation launched by the Federal Trade Commission, which brought actions on 36 companies that had collected over $95 million in illegal fees. So, why are they rising again? Bonnie Latreille,...

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.

For years, this has been the animating theory of American student loans. They’re not a shortcut to the middle class or a cheat code, but a high-stakes workaround, a back route, a way to give yourself the bootstraps so you can actually pull yourself up by them. A half-century into...

For months, borrower advocates have been calling on Congress to include these borrowers as they consider student-loan provisions in the context of coronavirus relief bills. Now, some are urging the Department of Education to use its authority to create a pathway for these borrowers to be included in the payment...

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.

A new investigatory report issued by the Student Borrower Protection Center and the American Federation of Teachers has uncovered millions of student loan servicing errors that have caused lasting financial harm to borrowers.