News Clips

“For the most part, it’s a great opportunity for borrowers,” said Persis Yu, policy director and managing counsel at the Student Borrower Protection Center, in a call with MarketWatch.

“The sudden renewed interest in these refunds is, in part, people believing in the student loan system again,” said Michael Pierce, executive director of the Student Borrower Protection Center. He said the nonprofit spoke with borrowers early on in the pandemic who tried to submit written requests fora refund and were ignored. “I would hate for capacity issues at the servicers to make a fool out of everybody that is telling people they…

As the talks dragged on, the back-and-forth between the administration and outside groups grew tense at times. Groups complained that the administration wasn’t being responsive to their outreach. But a major strategy among advocates “was to never close doors and to show the administration that when they do good things that help people with student debt they’ll get cheered for it,” said Mike Pierce, executive director of the Student Borrower Protection Center.

“I think the administration is structurally attempting to fix many of the problems that have plagued the inconvenient payment system. Whether or not it gets the job done is going to depend on the details,” said Persis Yu, policy director and managing counsel for the Student Borrower Protection Center, a leading advocacy organization focused on alleviating student debt.

“The White House is about to ask the Education Department to do something that is extraordinarily difficult, and that is going to have the effect of denying debt relief to low-income folks, economically vulnerable folks, who have the hardest time navigating these complicated paperwork processes,” Mike Pierce, executive director and co-founder of the Student Borrower Protection Center, a think-tank that advocates for universal debt cancellation, told ABC News in an interview.