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  1. Media & Events
  2. Press Releases

Press Releases


  • Press Releases
    Dec 7, 2021

    CFPB Affirms Its Oversight of Student Loan Companies Ahead of February 1 Resumption of Federal Student Debt Payments

    The affirmed its authority to supervise large student loan servicers and stated that it “has been and will continue to conduct supervisory examinations” of large student loan servicers.

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  • Press Releases
    Dec 6, 2021

    Advocates Warn: Student Loan Companies Seek to Undermine PSLF Overhaul to Pad Profits

    The SBPC and a coalition of the nation’s largest unions representing millions of public service workers sent letters to large student loan companies demanding immediate action to ensure successful implementation of ED’s recent overhaul of PSLF.

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  • Press Releases
    Nov 10, 2021

    Upstart, NAACP Legal Defense and Educational Fund, and Student Borrower Protection Center Announce Second in a Series of Reports on Fair Lending

    Upstart, the NAACP Legal Defense and Educational Fund, and the SBPC today announced the release of the second report from the independent auditor under its groundbreaking agreement to transparently review the fair lending outcomes of Upstart’s model and assess best practices in the use and testing of alternative data in AI lending platforms.

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  • Press Releases
    Oct 25, 2021

    Court Rules that the Federal Government’s Largest Student Loan Contractor Is Not Above the Law

    On Friday, a court ruled that Maximus Inc., a company that recently became the U.S. Department of Education’s largest student loan contractor, is not above federal consumer protection law and that the case brought by victims of its predatory and illegal debt collections practices may proceed to trial.

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  • Press Releases
    Oct 20, 2021

    Student Borrower Protection Center Announces New Leadership

    The SBPC, a national nonprofit working to end the student debt crisis, announced that SBPC co-founder Mike Pierce will serve as the next executive director of the organization and Persis Yu will join as the SBPC’s new policy director and managing counsel.

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  • Press Releases
    Oct 19, 2021

    SBPC and NCLC Warn Education Department that Delaying “Operation Fresh Start” Will Deny Promised COVID-19 Protections to Millions of Student Loan Borrowers in Default

    The SBPC and NCLC released the following statements in response to press reports that ED is weighing but has not yet taken steps to protect millions of federal student loan borrowers from the harsh consequences of default.

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  • Press Releases
    Oct 13, 2021

    SBPC Statement Regarding the Announced Settlement Between the American Federation of Teachers and the U.S. Department of Education Strengthening Public Service Loan Forgiveness

    The U.S. Department of Education and American Federation of Teachers announced an historic settlement building on the recently-announced overhaul of the struggling Public Service Loan Forgiveness program. In response to this announcement, Student Borrower Protection Center Executive Director Seth Frotman released the following statement.

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  • Press Releases
    Oct 6, 2021

    SBPC Statement on Department of Education Announcement to Overhaul the Public Service Loan Forgiveness Program

    The Department of Education announced steps to overhaul the notoriously troubled Public Service Loan Forgiveness program. In response to this announcement, Student Borrower Protection Center Executive Director Seth Frotman released the following statement.

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  • 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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