Given problems at 2U, ED needs to lay the groundwork now to ensure that student loan borrowers have a clear path to relief if an OPM folds or suddenly changes its offerings due to problems at the corporate level—and it needs to make students and the public aware of those plans immediately.
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We sent a letter to the CFPB calling on the agency to step in and protect students from predatory conduct by OPMs—something ED has proven unable or unwilling to do for more than a decade.
California’s Department of Financial Protection and Innovation can protect students from runaway institutional debts through its existing ability to regulate schools as debt collectors when they choose to act as such.
This line has been parroted in the opinion sections of mainstream news outlets, but it’s empirically unfounded.
The results of an NPR investigation show why an IDR waiver is needed now more than ever.
All borrowers whose loans were previously serviced by Navient should take the following four steps to protect themselves during and after the transfer to Maximus.
It is long past due for policymakers, regulators, law enforcement, and Congress to hold ISA providers and the bootcamps that rely on them accountable, and to protect borrowers from these predatory shams.
As advocates continue to push the Biden Administration to extend the pause on student loan payments, it is crucial that we recognize how ending the payment pause will uniquely impact Black and Latino borrowers.
By Claire Torchiana | January 25, 2022 Earlier this month, a bipartisan group of 39 state attorneys general settled lawsuits and investigations against Navient, one of the nation’s largest student loan lenders and servicers. The settlement is a meaningful step forward in a years-long attempt to hold one of the most predatory and unscrupulous actors […]
An SBPC investigation uncovers a decades-long scheme by the student loan industry aimed at blocking borrowers from accessing their full rights in bankruptcy—all so that these companies could pad their profits.