Press Releases

Today Student Borrower Protection Center Executive Director and former CFPB Student Loan Ombudsman Seth Frotman issued the following statement on how the CARES Act fails to deliver critical relief for student loan borrowers.

As Americans face the economic fallout from the coronavirus, the American Federation of Teachers (AFT) and the Student Borrower Protection Center (SBPC) today sent letters to government and industry leaders across the student loan system demanding action to protect student loan borrowers during this nationwide crisis. The organizations sent letters to Education Secretary Betsy DeVos, Consumer Financial Protection Bureau Director Kathy Kraninger, and nine large student loan companies that service loans owed by…

Student Borrower Protection Center Executive Director and former CFPB Student Loan Ombudsman Seth Frotman released the following statement on Washington’s plan to send checks directly to American families as part of a $1 trillion stimulus package in response to the coronavirus crisis.

New interagency agreement fails to restart supervision of Education Department contractors.

Given growing evidence of widespread predatory practices across the student loan industry as federal regulators are charged with failing to to their job of protecting borrowers, the organizations co-sponsoring AB 376, the California Student Borrower Bill of Rights, are doubling down on their call to the state legislature to pass this critical borrower protection legislation.