News Clips

News Clips

Sep 9, 2021

Charting Better Maps to Degrees

After the news broke, the Student Borrower Protection Center wrote to the U.S. Department of Education, calling for it to address “ongoing violations” of laws and regulations related to ISAs, including loan co-branding by colleges with ISA providers.

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News Clips

Sep 9, 2021

A Student-Loan Forgiveness Program Will Continue to Reject 80% of Public Servants Through 2026, Report Finds

When analyzing what those projections mean for future enrollment in the program, the report estimated that over 2.2 million borrowers will likely have declared their intent to pursue PSLF by 2026, meaning that only one in eight borrowers will obtain relief by that time.

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Sep 9, 2021

Data Shows Only 20 Percent of Applicants for a Student Loan Forgiveness Program Will Receive Relief by 2026

There are about 1.3 million people pursuing Public Service Loan Forgiveness, a program that cancels federal student debt after 10 years of on-time payments for people who take public-sector jobs. But just 1 in 5 of those borrowers are on track to secure relief by 2026, according to an analysis released Thursday by the Student Borrower Protection Center.

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Sep 8, 2021

Student Loans: Consumer Regulator Cracks Down on Company Advised by Obama-era Education Department Official

America’s top consumer finance watchdog is taking action against an alternative education finance provider advised by an Obama-era Education Department official for allegedly misleading students about income-share agreements.

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Sep 2, 2021

Student-Loan Borrowers are Still Having Their Wages Seized, and are Owed $37 Million in Garnished Wages

That’s one conclusion from Department of Education data published Thursday by the Student Borrower Protection Center. The data, released to the nonprofit advocacy group through a Freedom of Information Act request, also indicate that borrowers are owed more than $37 million in wages seized between March 2020 and June 2021 that the Department had instructed student-loan organizations to refund.

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Aug 30, 2021

Insider Q&A: What’s Next for Student Loans in the COVID Era

Frotman spoke to The Associated Press about the Biden administration’s decision to extend the student loan repayment moratorium and other issues facing the $1.5 trillion industry.

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Aug 26, 2021

Report Shows For-Profit Colleges Target Minority Communities That Typically Owe More Student Debt

The SBPC, which advocates for borrowers’ rights, released a report in July showing for-profit colleges disproportionately established themselves in minority communities and engaged in predatory practices leaving students in significant debt.

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Aug 24, 2021

For-Profit Schools Target Minority Communities That Typically Owe More Student Debt, Report Says

Over the past decade, a number of for-profit schools have shut down over accusations of misleading students and leading them to take on more debt than they can pay off. A recent report found those schools target minority communities that were already disproportionately burdened by student debt.

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Aug 5, 2021

California Announces Deal to Treat Fintech’s ISAs as Student Loans

State authorities in California struck a deal with a fintech firm to treat a controversial finance product known as income-share agreements as student loans, requiring compliance with the state’s student borrower protection laws.

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Aug 2, 2021

Report: For-Profit Institutions Target Communities of Color

Despite pushes to address predatory practices—such as the withholding of Title IV federal financial aid—for-profit institutions are continuing to target communities of color through recruitment and location strategies, according to a new Student Borrower Protection Center report.

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