Press Inquiries

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In the News

NPR

October 15, 2019 | Exclusive: Turf War Blocked CFPB From Helping Fix Student Loan Forgiveness Program

Now NPR has learned that the nation’s most powerful consumer watchdog, the Consumer Financial Protection Bureau, launched an effort to fix problems but the Trump administration blocked it from trying to help.

September 20, 2019 | Here’s Another Way Student Loans are Screwing You Over, Consumer Advocates Say

According to the Student Borrower Protection Center, a consumer advocacy group, the memo shows that Navient “orchestrated a predatory scheme to place borrowers in high-cost repayment options to boost corporate profits.”

The Washington Post

September 19, 2019 | Navient memo raises questions about its student loan servicing practices

“The evidence unsealed in federal court confirms that Navient’s practices that added billions of dollars of debt to struggling borrowers emanated from the top echelon of the company,” said Seth Frotman, executive director of the Student Borrower Protection Center, an advocacy group. “The time has come for policymakers to admit this company’s practices are predatory and corrupt — it should not be given a single additional taxpayer dollar.”


Press Releases

October 3, 2019 | California Advocates Renew Call to Pass AB 376 to Protect Teachers, Nurses and other California Student Loan Borrowers

Today, New York Attorney General Tish James sued student loan giant Pennsylvania Higher Education Assistance Agency, also known as PHEAA or FedLoan Servicing, for cheating teachers, nurses and other public service workers out of their right to loan forgiveness. In the face of mounting lawsuits and growing evidence of widespread predatory practices across the student loan industry, the organizations co-sponsoring AB 376, the California Student Borrower Bill of Rights, have renewed their call to the legislature to pass this critical borrower protection legislation.

September 18, 2019 | Statement by SBPC Executive Director Seth Frotman on New Evidence Revealing Navient Executives’ Plot to Cheat Borrowers

Newly unsealed court documents reveal executives at the nation’s largest student loan company orchestrated a predatory scheme to place borrowers in high-cost repayment options to boost corporate profits. Reliance on these high-cost options, known as “forbearances,” resulted in more than $4 billion in unnecessary interest charges passed on to borrowers, according to lawsuits filed by federal and state enforcement officials.

August 14, 2019 | Statement from SBPC Executive Director Seth Frotman on the Congressional Inquiry into Trump Administration Obstruction and Industry Abuses

Student Borrower Protection Center Executive Director and former CFPB Student Loan Ombudsman Seth Frotman issued a statement on the congressional inquiry announced yesterday into the Trump Administration’s failure to protect student loan borrowers, including obstruction of law enforcement officials by senior Trump Administration officials and abuses by the student loan servicing industry.


Remarks

September 10, 2019 Testimony of Seth Frotman Before the United States Congress House Financial Services Committee

Testimony of Seth Frotman at the House Financial Services Committee hearing: A $1.5 Trillion Crisis: Protecting Student Borrowers and Holding Student Loan Servicers Accountable

April 23, 2019 Keynote Remarks of Seth Frotman at the San Francisco Federal Reserve Bank

Keynote remarks of Seth Frotman in conjunction with the release of the San Francisco Federal Reserve Bank’s paper, At What Cost?: Student Loan Debt in the Bay Area.

March 27, 2019 Testimony of Seth Frotman Before the California Assembly Committee on Banking and Finance

Testimony of Seth Frotman at the California Assembly Committee on Banking and Finance hearing: An Examination of the CFPB under the current Federal Administration and Options for California to Protect its Consumers.