News Clips

News Clips

Aug 27, 2020

50 Organizations Call For Student Loan “Bill Of Rights”

“Even before the current COVID-19 pandemic, student loan borrowers struggled with a predatory student loan servicing industry that knowingly misleads borrowers to increase its profits,” the coalition of organizations wrote in a letter to the Massachusetts state legislature. “With the increased financial instability brought by the present pandemic-induced economic crisis, it is more important than ever that borrowers know their rights, [and] are protected by strong consumer guidelines… In tumultuous times, taking action…

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Aug 22, 2020

Consumer Groups Take PayPal to Task Over Student Loan Credit Line

“All of these facets create a very questionable and predatory financing product,” said Seth Frotman, executive director of the Student Borrower Protection Center, a nonprofit advocacy group started by former members of the federal Consumer Financial Protection Bureau staff. The credit line illustrates an increasing use of “shadow” student loan debt, he said — funds borrowed for education outside traditional student lending options.

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Aug 18, 2020

Ruiz Bill to Curb Forced Arbitration in Educational Enrollment Contracts Clears Committee

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Jul 31, 2020

Senate Democrats raise concerns about educational redlining in student lending

To that end, Democrats are citing a recent study by the Student Borrower Protection Center that analyzed the educational data from Upstart. Researchers searched Upstart for rates for applicants with identical credit profiles across a range of higher-education sectors, including Hispanic-serving institutions and historically black colleges and universities.

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Jun 29, 2020

Student debt crisis creates a ‘vicious cycle’ of inequality in Black, Latino neighborhoods, report finds

The report by the Student Borrower Protection Center, a consumer advocacy group, analyzed previous borrower data prepared by regional Federal Reserve banks and the city governments of New York City, Washington, D.C., Philadelphia and San Francisco and found a commonality that students in majority Black and Latino neighborhoods are more reliant on student loans and shoulder a greater debt burden.

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Jun 11, 2020

Ohio’s punitive student debt collection hurting thousands trying to advance their futures. It must end.

The Ohio legislature has the chance to pass two common-sense bills that would provide a boost to Ohioans trying to pursue an education and strengthen our economy, especially now as we emerge from the coronavirus pandemic.

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May 20, 2020

Debt from an unfinished college year almost kept me from getting back on the college track. Ohio can fix this: Brandon Copeland

We keep hearing that we may have to accept a new normal going forward. However, when it comes to helping Ohioans pursue their education, a new normal can — and should — be a good thing.

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May 14, 2020

Student debt task force meets for first time amid pandemic

“The most important thing for you all to keep in mind is that September 30 isn’t all that far away,” Frotman said. “And on that day, the Department of Education and it’s handful of student loan companies are responsible for turning back on 35 million accounts. What really concerns me is, we have kind of seen this before, where this is kind of what happens after natural disasters like hurricanes. The government will…

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May 13, 2020

Evers’ task force on student debt meets for first time

One person, from the Student Borrower Protection Center, said even with the freezes the federal government has put on student loans right now, student debt has been and will continue to be an issue, if not get worse. That’s just one piece of what the group will talk about and eventually try to solve. “Our goal is really to come up with a set of workable, practical, implementable solutions that we can put…

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May 6, 2020

How Debt Collectors Are Transforming the Business of State Courts

The business of state civil courts has changed over the past three decades. In 1990, a typical civil court docket featured cases with two opposing sides, each with an attorney, most frequently regarding commercial matters and disputes over contracts, injuries, and other harms. The lawyers presented their cases, and the judge, acting as the neutral arbiter, rendered a decision based on those legal and factual arguments. Thirty years later, that docket is dominated…

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