Media Type: Press Releases

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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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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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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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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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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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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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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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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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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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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