News Clips

“Equity demands that these [Parent PLUS and graduate] borrowers have equal access to an affordable payment plan and the necessary supports to free themselves from the crushing weight of student debt. The Secretary must include them in the final rule,” Persis Yu, deputy executive director of the SBPC, said in a statement.

“The Department’s plan remains out of reach for many of the students and families who are forced to take on some of the greatest amounts of debt in hopes of achieving social mobility,” Persis Yu, deputy executive director of advocacy group Student Borrower Protection Center, said in a statement.

The deputy executive director of the Student Borrower Protection Center, Persis Yu, said in a statement that while the proposals are significant, the Department of Education should go further by including Parent PLUS loans and graduate student loan borrowers in the program.

Meanwhile, some of those who welcomed the extra relief criticized the proposal for excluding loans taken out by parents and graduate students. “It ignores the reality that low-income families — especially low-income families of color — are more likely to rely on ParentPLUS loans or need to get a graduate degree to earn the same salary as their wealthier white peers,” said Persis Yu, deputy executive director of the Student Borrower Protection Center.

Mike Pierce, executive director of the Student Borrower Protection Center and an outspoken supporter of Biden’s debt relief plan, says, as long as there are federal student loan borrowers, there must be investment in a system to support them. “If they are confused about what their options are, it costs money to pay a person to walk them through what their rights are,” Pierce says. “If they just need paperwork processed, it costs…

Mike Pierce, executive director of the Student Borrower Protection Center, applauded the bill’s passage in a statement. “Despite claims by some Republican lawmakers, this funding bill is clean and simple—a bipartisan show of financial support for the President’s promise to help all borrowers as they recover from the COVID-19 pandemic and navigate our badly broken student loan system,” Pierce said.

“2023 is going to be a huge year in the student-loan world,” said Persis Yu, deputy executive director at the Student Borrower Protection Center, an advocacy group.