Press Inquiries

Email press@protectborrowers.org


In the News

The Philadelphia Inquirer

July 1, 2019 | Your student loan servicers — Navient, Nelnet, and FedLoan — pay big bucks to CEOs and lobbyists

“The student-loan lobby claims to support students and their families,” said Seth Frotman, executive director of the Student Borrower Protection Center and former top student loan official at the Consumer Financial Protection Bureau. “But the reality is that executives are profiting enormously off of a broken system that leaves so many borrowers crippled in debt. Over the decades, we’ve seen a revolving door of lobbyists peddle policies designed to exploit the pursuit of the American dream.”

The Washington Post

June 28, 2019 | Court rules student loan companies are subject to state consumer laws, contrary to Trump administration’s stance

“The decision is an enormous victory for student loan borrowers, state attorneys general and every American who rejects the idea that big companies should be able to trample on borrowers’ rights with impunity,” said Frotman, who now runs the Student Borrower Protection Center.

The Washington Post

June 5, 2019 | Civil Rights Groups Urge Consumer Bureau to Root Out Discrimination in the Student Loan Servicing Industry

Civil rights organizations are urging the director of the Consumer Financial Protection Bureau to step up oversight of the student-loan servicing industry and root out discrimination.


Press Releases

February 14, 2019 | Education Department Watchdog Finds Government’s Student Loan Arm Failed to Act as Student Loan Companies Cheated Borrowers

Today, the Inspector General of the U.S. Department of Education released a sweeping audit of the federal government’s flailing effort to police the student loan industry. This new audit finds that the Education Department’s student loan arm, the Office of Federal Student Aid (FSA), failed to oversee all nine student student loan companies responsible for handling accounts for tens of millions of Americans.

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.


Remarks

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.

March 7, 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: Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau.