Media Type: Blogs

Private Student Loan Borrowers Need to be Part of the Next Congressional Relief Package

Today, the SBPC released a comprehensive analysis showing a growing cause for concern within the private student loan market. The report finds that the rapidly growing private student loan market is putting the most vulnerable borrowers at risk. Even before the current coronavirus-fueled crisis, these borrowers struggled to get help when they needed it. Now, private student loan borrowers continue to suffer from the burden of this debt while borrowers with federal loans…

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Private Student Loans: New Report Sheds Light on the Need for Borrower Protection in an Opaque $130 Billion Market

Today, the SBPC released a new report examining the private student loan market. The report offers a snapshot of recent trends and borrower outcomes in the space, indicating a critical need for more rigorous borrower protection at the federal, state, and local level.

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Borrower Voices: The Impact of Wage Garnishment During the Coronavirus Pandemic

As Americans face unprecedented economic and financial pressure, having wages seized can mean the difference between having enough money to pay rent or to put food on the table.

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As the Coronavirus Rages, Americans Deserve More than a CFPB that Chooses to Bury its Head in the Sand

For three years, the Consumer Financial Protection Bureau (CFPB) has failed to execute its job of protecting hundreds of millions of American consumers. The repercussions of this failure are vast, and they are painfully visible in the ongoing crisis in the student loan market and its effects on the most vulnerable consumers.

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Are You Having Problems with Government Wage Garnishment on Your Student Loans During COVID-19?

On March 25, 2020, the Trump administration announced that it would end wage garnishment for student loan borrowers, going back to March 13 and extending for at least 60 days. However, this process is not simple.

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The CARES Act Leaves Behind Millions of Student Loan Borrowers

As the world grapples with the fallout of the coronavirus pandemic, student loan companies cannot be allowed to continue making billions on the plight of student loan borrowers. And yet, even for many borrowers of federal student loans, this is precisely what the CARES Act will permit.

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Student Loan Law Initiative Hosts First Student Loan Law Review Symposium

On February 21, 2020, legal scholars and advocates from around the country gathered at the campus of UCI School of Law for the first ever law review symposium dedicated exclusively to the question of student loan law.

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Why Borrowers Matter, State by State

Today we are releasing a snapshot of state-by-state statistics on student loan debt. This data should be front and center as policymakers consider actions to protect Americans from the economic effects of the global coronavirus pandemic.

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When the Student Loan System Fails, Payment Relief Becomes Just Another Empty Promise

Student loan companies were woefully unprepared to help borrowers grapple with the coronavirus long before tens of millions of borrowers were told they would need to contact their student loan servicer to secure payment relief. As borrowers in distress seek help over the coming days and weeks, the student loan system, including the large private-sector financial services firms at its center, is clearly not up to the task.

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Plans to “Pause” Student Loan Payments Solve a Political Problem, But Leave Student Loan Borrowers Worse for the Wear

As America is gripped by a once-in-a-century public health crisis and hurtles toward a long and deep recession, policymakers in the Trump Administration and on Capitol Hill are looking for policy levers to blunt the effects of this turmoil. Helping student loan borrowers in distress needs to be a key part of any effort to protect the economy as a whole from the worst consequences of the coronavirus pandemic.

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