It’s disturbing enough to know that 3.8 million student loan borrowers in California owe about $134.3 billion. The true cost of this debt load cannot be fully measured in those numbers.
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The Assembly Higher Education Committee discussed a bill that would give the state tools to go after student loan companies.
On Tuesday, the California assembly passed the “Student Borrower Bill of Rights,” or AB376, aimed at creating the first detailed set of rules protecting those holding student debt in the U.S.
Higher education can open the door to incredible opportunities and is a worthy investment in the future. But as we encourage Rhode Islanders to pursue higher education, we must also ensure that they are protected from deceptive and predatory loan servicing by enacting the Student Loan Bill of Rights.
Surging student loan debt that is “casting a shadow” over current and former borrowers brought the California Assembly Select Committee on Student Debt to UC Irvine for a discussion of the debt issue and efforts being made to support borrowers.
In a grim picture of student-loan debt across the Bay Area, a study released Monday shows that the amount owed has tripled in the past 15 years while the default rate has doubled, hitting low-income communities hardest.
Colorado can and must change the status quo. The Regulate Student Loan Servicers Act (SB19-002) would do just that.
As the federal government withdraws from its role as a student loan watchdog, advocates and state-level politicians are trying to pick up the slack and rein in predatory practices by loan servicing companies.
Rhode Island’s treasurer and attorney general want a “student loan bill of rights” to protect borrowers from deceptive lending practices.
A bill has been introduced in the Legislature that would establish a system for the state to oversee student loan servicers who do business in Maine.