News Clips

News Clips

Oct 21, 2021

How Corporations Keep Their Own Workers in Debt

Seth Frotman, executive director of the Student Borrower Protection Center, has described such predatory training loans as “shadow student debt.”

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Oct 18, 2021

Public Sector Workers Could Benefit From Student Loan Overhaul

Other changes include plans to simplify the application process, review denied applications to correct prior errors, remove barriers that deter participation of members of the military and improve communication with eligible borrowers, the agency said.

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Oct 13, 2021

Student Loan Forgiveness: What’s Getting Fixed?

A limited waiver announced by the U.S. Department of Education is expected to immediately wipe the slate clean for 22,000 student borrowers seeking Public Service Loan Forgiveness and speed the process for at least 550,000 overall.

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Oct 6, 2021

Change Comes to Public Service Loan Forgiveness

“For too long, those who give the most to our communities and our country have been given the runaround and forced to shoulder debts that should have been canceled,” said Seth Frotman, executive director of the Student Borrower Protection Center. “The Biden administration is taking a critical step towards alleviating that burden for our public service workers.”

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Oct 3, 2021

Military members promised student debt relief in exchange for ten years of public service say promise is often broken

Seth Frotman heads an advocacy group called the Student Borrower Protection Center. He says borrowers should have started getting relief through the forgiveness program four years ago – a decade after it started – but over 9 out of 10 military members who have applied for debt relief have been turned down.

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Oct 1, 2021

Education Dept. to Overhaul the Troubled Public Service Loan Forgiveness Program

The changes will come in two phases — a long-term renovation to make the program easier to navigate, achieved through the federal process known as rulemaking, and a temporary move using the department’s executive authority to retroactively relax the program’s rules to immediately help thousands of affected borrowers.

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Sep 21, 2021

Thousands of Teachers Rejected for Public Service Loan Forgiveness Program, New Data Shows

The disclosure suggests further bureaucratic problems with the management of the Public Service Loan Forgiveness program, which has come under fire from Democrats in recent years for rejecting more than 98 percent of all borrowers who applied.

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Sep 14, 2021

The Curious Case of a Chameleon Zombie Coding School

That promise fell apart over several weeks in July when the entire school seemingly unraveled: Make School was sued for allegedly selling predatory educational financing products to its early students, the school’s accreditation application was denied, financial backers apparently backed out, and students were absorbed by a separate school.

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Sep 13, 2021

Why Some Backers of Student Lending Product Welcome CFPB Crackdown

ISAs offer tuition money in exchange for some of a student’s future income. While many see the product as a progressive alternative to traditional student loans, consumer advocates say some have avoided regulatory scrutiny by claiming ISAs are not credit.

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Sep 10, 2021

$10 Billion in Student Debt Erased Under Biden, but Calls Grow for More

While Mr. Biden has so far fended off calls for the kind of blanket debt cancellation that is a top priority of many progressive lawmakers, a parade of relatively modest eligibility and relief enhancements adds up to a significant expansion of support for beleaguered borrowers. And more may be coming: The Education Department said it was planning regulatory changes to programs aimed at helping public servants and those on income-driven repayment plans.

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