News Clips

The Department of Education is reportedly planning to argue that federal law supersedes state regulations overseeing student-loan companies.

A new study out from the nonprofit Massachusetts Budget and Policy Center shows that state cuts to public higher education since 2000 have led to massive growth in average debt for graduates.

The Trump administration is taking steps to shield student loan collection companies from state regulators, over the objections of consumer advocates and even some Republican attorneys general.

Amanda Lawson-Ross planned her career around a government loan forgiveness program. But after making payments for four years, it turns out she doesn’t qualify.

State Rep. Faith Winter, a Westminster Democrat, hopes to change the status quo in the 2018 legislative session starting Jan. 10. She’s been working with the attorney general’s office on a bill to license student loan debt collectors and oversee their business activities.

New York’s poorest neighborhoods are home to the city’s student borrowers under the most stress, according to a central bank report released on Friday showing “troublingly high” loan default and delinquency rates mainly in the Bronx and Brooklyn.

While the administration rolls back the weak protections that exist, more than a dozen states have proposed reforming the largely unregulated student loan industry.

Maine borrowers need the protections that LD 1507 would afford. Lawmakers need to put the needs of students and graduates ahead of servicing companies rife with abuse and deception.

The Maine Legislature should adopt protections to safeguard our seniors and young graduates trying to pay off student loans since the federal government and the service companies they employ won’t.