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Press Releases

Advocates and Veterans Groups Urge Financial Institutions to Follow Military Consumer Protection Law During COVID-19 Mobilizations

Today, the Student Borrower Protection Center, Student Veterans of America, Veterans Education Success, and over a dozen national military and veteran service organizations sent letters to the nation’s major financial institutions urging them to ensure that service members—including those called up to support COVID-19 emergency response efforts—are not being mistreated...
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Americans for Financial Reform and SBPC Send Letter to Navient Board of Directors Demanding Investment in Student Borrowers, Not Shareholders

The Student Borrower Protection Center (SBPC) and Americans for Financial Reform (AFR) sent a letter to the Board of Directors of Navient Corporation urging the company’s board to halt dividends and stock buybacks, pause planned compensation for itself and the company’s managers, and focus on investing in customer service infrastructure...
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Statement from Mike Pierce, SBPC Policy Director, on the State of California’s Lawsuit Against the Pennsylvania Higher Education Assistance Agency (PHEAA)

Today, the California Department of Business Oversight filed a lawsuit against the Pennsylvania Higher Education Assistance Agency (PHEAA), also known as FedLoan Servicing. This lawsuit alleges that the student loan servicer illegally withheld key documents and records from the State of California related to its handling of a federal grant...
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