News Clips

“Today, a federal judge confirmed what lawyers in and out of government have long known: Joe Biden can cancel student debt broadly and immediately,” Mike Pierce, executive director of advocacy group Student Borrower Protection Center, said in a statement. “As right-wing politicians and corrupt corporations fight against this historic effort to deliver life-changing debt relief to tens of millions of families, borrowers have their clearest sign yet that the law is on their…

In response to the lawsuit, Persis Yu, of the Student Borrower Protection Center, says, “FFEL lenders have shown their true colors. Instead of working in the interest of student loan borrowers – their customers – these lenders are holding hostage relief to millions of borrowers in order to keep making a buck off of borrowers suffering.”

“There are big open questions about how people are going to connect the dots,” Mike Pierce, the executive director of the Student Borrower Protection Center, said in an interview. “But the track record for the student loan system isn’t good. In some ways, all the White House is doing here is reflecting the reality that the student loan system doesn’t provide people with a path to get their debts canceled 100 percent of…

If the idea is to keep student loans affordable for borrowers and the government determines what’s affordable based on income, “it doesn’t really make logical sense,” that you would make a distinction between how much a borrower has to pay based on their degree, said Persis Yu, deputy executive director at the Student Borrower Protection Center. “They don’t have more resources to pay that money just because they have a degree,” she said.