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In the News

Marketwatch

January 7, 2019 | New York reaches deal with student loan company long accused of misleading borrowers

“’The enforcement action against ACS is critical because it demonstrates what so many student-loan borrowers, including public servants, are facing when they try to repay their debt,’ said Seth Frotman, the executive director of the Student Loan Borrower Protection Center, an advocacy group. ‘This action demonstrates how countless student-loan borrowers are denied the protections and the benefits that would help alleviate that burden.’”

December 24, 2018 The Seven Wildest Scandals and Scams of 2018 That Don’t Involve Trump

“In some ways what happened this year was even more maddening: The top federal student loan watchdog quit in disgust at the government’s coddling of shady private interests like Navient. Seth Frotman, who had been an official at the Consumer Financial Protection Bureau (CFPB), blasted Mick Mulvaney—the Trump acolyte who was just named interim chief of staff (his third gig, in addition to being the president’s budget director and the acting head of the CFPB)—for failing the public by effectively not doing anything as a regulator.”

December 19, 2018 Watchdog Group Investigates Federal Loan Forgiveness Program for Public Servants

“‘For more than a decade, dedicated public servants have paid a heavy price for abuse and mismanagement by the student loan industry,’ said Frotman, who resigned in August from a senior position at the Consumer Financial Protection Bureau before joining the nonprofit advocacy group. ‘These failures have ruined student loan borrowers’ lives and can’t be swept under the rug.'”


Press Releases

January 24, 2019 | New Analysis Reveals New Yorkers Suffer Under the Weight of Historic Levels of Student Debt, Empire State Must Take Action to Protect Borrowers

Today, the SBPC and New Yorkers for Responsible Lending (NYRL) released a new analysis demonstrating the scale of the student debt crisis in New York. This new analysis of government data shows that more than one-in-five New York consumers now owe student loan debt. For the first time, nearly half of all millennials in New York owe money on a student loan. 


January 22, 2019 | New Analysis Reveals More than 730,000 Coloradans Suffer Under the Weight of Historic Levels of Student Debt, State Must Take Action to Protect Borrowers

Today, the SBPC and New Era Colorado released a new analysis demonstrating the scale of the student debt crisis in Colorado. A new analysis of government data shows that more than 1-in-4 middle-aged Coloradans now owe student loan debt. For the first time, nearly half of all young adults in the state owe money on a student loan. This analysis makes a clear and compelling case for Colorado to take action to protect student loan borrowers from illegal student loan industry practices.


January 16, 2019 | With the Explosion of Student Debt Across the Commonwealth, Virginia Must Take Action to Protect Borrowers

Today, the Student Borrower Protection Center (SBPC), Virginia Poverty Law Center (VPLC), Virginia21, and Progress Virginia released new analysis demonstrating the scale of the student debt crisis in Virginia. This new analysis of government data shows that nearly 1-in-6 Virginians now owe student debt. For the first time, more than one million Virginians owe money on a student loan.


Remarks

SPEECH: Examining the Student Loan Debt Crisis

January 31, 2019 | Remarks of Seth Frotman (as delivered) at Community Service Society of New York’s event: Examining the Student Loan Debt Crisis


SPEECH: We Take Care of Our Own

October 16, 2018 | Prepared Remarks of Seth Frotman at New Jersey Citizen Action’s 9th Annual Financial Reform Summit: The Future of Fair Housing, Fair Lending, and a Fair Economy


STATEMENT: Class-Action Lawsuit Launched Against Student Loan Servicer Navient over PSLF

October 3, 2018 | Announcement of American Federation of Teacher’s Class Action Lawsuit Against Navient Over Obstructing Access to Public Service Loan Forgiveness (AFT release