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  1. Media & Events
  2. Press Releases

Press Releases


  • Press Releases
    Sep 30, 2021

    SBPC Applauds the Confirmation of Rohit Chopra as CFPB Director

    Today, the U.S. Senate voted to confirm current FTC Commissioner Rohit Chopra to be the next Director of the CFPB. In response, SBPC Executive Director Seth Frotman issued the following statement.

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  • Press Releases
    Sep 28, 2021

    SBPC Statement on Navient Ending its Role as Federal Student Loan Servicer

    In response to this announcement, SBPC Executive Director and former top student loan industry watchdog at the Consumer Financial Protection Bureau Seth Frotman released the following statement.

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  • Press Releases
    Sep 22, 2021

    Advocates Call on President Biden to Cancel Student Loan Debt for Public Service Workers

    More than 200 organizations representing millions of public service workers from all corners of the country called on President Biden to fix the broken PSLF program and deliver promised student debt relief to borrowers.

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  • Press Releases
    Sep 7, 2021

    Statement on CFPB Enforcement Action Against Income Share Agreement Provider Better Future Forward, Inc.

    Today, the Consumer Financial Protection Bureau announced an enforcement action against a private student lender offering a risky kind of financial product known as an income share agreement (ISA), alleging that the company, Better Future Forward, Inc. was misleading consumers.

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  • Press Releases
    Aug 9, 2021

    SBPC Applauds Biden Administration for Reversing Trump-era Scheme to Deny Justice to Borrowers Cheated by Student Loan Companies

    Today, the U.S. Department of Education rolled back a Trump Administration directive issued by former Education Secretary Betsy DeVos that attempted to block state governments and individual student loan borrowers from seeking justice when student loan companies break the law.

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  • Press Releases
    Aug 6, 2021

    SBPC Statement on the Extension of the Student Loan Payment Pause

    Before the pandemic, our nation was in the midst of a $1.7 trillion student debt crisis with more than 1-in-4 borrowers already struggling. The Biden Administration has five short months to repair this badly broken system.

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  • Press Releases
    Aug 6, 2021

    SBPC Statement on California DFPI Consent Order with Income Share Agreements Servicer Meratas

     Today, the California Department of Financial Protection and Innovation (DFPI) announced a landmark consent order with New York-based Meratas, Inc., a company that partners with educational institutions to offer students Income Share Agreements or ISAs to finance post-secondary education and training.

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  • Press Releases
    Jul 28, 2021

    New Report Finds For-Profit Schools Targeting Black and Latino Communities

    . The report plots the location of for-profit schools in cities across the Midwest, showing how these institutions often cluster in certain areas to exploit borrowers of color by offering programs of dubious value financed by expensive and hard to repay student debt. Further, new data analysis reveals that, at the national level, for-profit schools are roughly twice as likely to set up in majority Latino or majority Black zip codes as compared…

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  • Press Releases
    Jul 23, 2021

    SBPC Statement on Department of Education Inquiry into the Public Service Loan Forgiveness Program

    Today, the U.S. Department of Education launched a public inquiry into the broken Public Service Loan Forgiveness Program. In response, SBPC Executive Director Seth Frotman released the following statement.

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  • Press Releases
    Jul 8, 2021

    SBPC Statement on PHEAA Terminating Role as Top Federal Student Loan Servicer

    Today, the student loan servicer Pennsylvania Higher Education Assistance Agency (PHEAA), also known as FedLoan Servicing, announced that it would no longer continue to serve as the top loan servicer for the U.S. Department of Education.

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