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In the News

NPR

February 5, 2020 | Graduates Of Historically Black Colleges May Be Paying More For Loans: Watchdog Group

Financial firms may be discriminating against people based on where they went to college, a watchdog group says. In particular, the group found that a lender named Upstart appears to be charging higher interest rates on student loans to graduates of historically black or or predominantly Hispanic colleges.

January 16, 2020 | NH Voices: Rep. Willis Griffith — Student debt hurts all Granite Staters

More than 23,000 Granite Staters over the age of 60 owe student loan debt — a 73% increase since 2012. New Hampshire borrowers are teachers, nurses, service members, and veterans. The people struggling with student loans are our neighbors, relatives, and coworkers.

December 24, 2019 | Why Student Loan Debt is Ballooning for Those 50 and Up

Student loan debt isn’t something you’d typically think about needing to pay in your 50s or 60s. In some cases, though, retirees now owe as much for a student loan as they would for a typical new car loan. 


Press Releases

February 5, 2020 | New Report Finds ‘Educational Redlining’ Penalizes Borrowers Who Attended Community Colleges and Minority-Serving Institutions, Perpetuates Systemic Disparities

The SBPC’s analysis of fintech and banking products uncovered cases where a prospective borrower may be hit with thousands of dollars in additional credit costs if he or she attended a community college, an Historically Black College or University (HBCU), or an Hispanic-Serving Institution (HSI).

February 4, 2020 | Statement from SBPC Executive Director Seth Frotman on the CFPB’s Continued Failure to Establish Oversight of Student Loan Companies

Student Borrower Protection Center Executive Director and former CFPB Student Loan Ombudsman Seth Frotman released the following statement on yesterday’s interagency announcement and CFPB’s continued failure to oversee student loan companies.

December 20, 2019 | Student Loan Giant Accused of Cheating Public Service Workers Moves to Block Montana Legal Services Program from Advocating for Low-Income Borrowers’ Rights

This week, student loan servicer Pennsylvania Higher Education Assistance Agency (PHEAA), also known as FedLoan Servicing, urged the Montana Supreme Court to reject a brief submitted to the court by the Montana Legal Services Association, the National Consumer Law Center, and the Student Borrower Protection Center in order to preserve low-income borrowers’ access to justice. 


Remarks

December 4, 2019 Testimony of Katherine Welbeck Before the California Assembly Select Committee on Student Debt

Testimony of Katherine Welbeck Before the California Assembly Select Committee on Student Debt: Student Debt Impacts on California Neighborhoods

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.