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Aug 17, 2020

New Department of Education Data Uncovered by Senator Murray Reveals How the Promise of Public Service Loan Forgiveness is Being Broken in Every State

Thanks to new evidence obtained by U.S. Senator Patty Murray, we are finally beginning to understand in detail how many people across the country are being denied PSLF.

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Blogs

Aug 11, 2020

The Internal Government Communications and Records Exposing the Broken Employer Certification Process

In conjunction with the release of the report, “Broken Promises: Employer Certification Failure,” the SBPC released two new sets of documents and records that have never before been available to the public.

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Blogs

Aug 7, 2020

How Private Student Loans are Furthering Racial Disparities in the Student Loan Market

Despite industry assurances that the private student loan market is free from borrower distress, a closer examination of outcomes suggests that certain subsets of borrowers disproportionately struggle with private student debt—namely, Black and Latinx borrowers.

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Blogs

Aug 4, 2020

The Role of States in Protecting Students in the ISA Market

A new report finds that while ISAs are a relatively recent development in the student loan market, they share important common features with well-established loan products and fall squarely within those statutes.

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Blogs

Jul 31, 2020

Fintech Lenders’ Responses to Senate Probe Heighten Fears of Educational Redlining

The SBPC found that the company’s use of this data resulted in ‘educational redlining,’ penalizing borrowers who attended minority-serving institutions. Upstart’s practices highlight key problems related to the use of educational criteria in underwriting, federal fair lending laws, and equal credit access.

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Blogs

Jul 31, 2020

Broken Promises: Investigating the Department of Education’s Employer Certification Process

In conjunction with the release of the report, “Broken Promises: Employment Certification Failures,” the SBPC has released two new sets of documents and records that have never before been available to the public

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Blogs

Jul 28, 2020

Innovation or Discrimination? Fair Lending Risks and ISAs

Although the U.S. is desperately in need of solutions for the student debt crisis—and the accompanying racial and ethnic disparities—features of existing Income Share Agreements threaten to exacerbate these inequalities.

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Blogs

Jul 21, 2020

This is not the Credit You’re Looking for: Why Jedi Mind Tricks Won’t Work for ISAs

Lenders offering Income Share Agreements (ISAs) claim they have found the perfect loophole to sidestep federal law. They argue that ISAs are “not credit,” and therefore federal consumer financial laws don’t apply. These companies have bet their business on this assumption, accruing massive liability if they are wrong.

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Blogs

Jul 16, 2020

SBPC Launching Income Share Agreement Conference and Paper Series: Using Consumer Law To Protect Student Loan Borrowers

The SBPC is announcing an unprecedented exploration into the role that consumer protection laws play in safeguarding borrowers from the harms posed by ISAs. Over the next month, we will release a paper series, authored by legal experts at the forefront of consumer law, exploring how ISAs fit into existing consumer financial protection framework.

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Blogs

Jul 14, 2020

FAQs: Student Loan Repayment During COVID-19

To help provide guidance, here are answers to some frequently asked borrower questions about managing student loans during the coronavirus pandemic and beyond.

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