SBPC released the results of a months-long investigation into the tech company Prehired, exposing how the firm had resumed its scheme to push worthless credentials on students, paid for via its own predatory private student lending operation.
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Spurred by litigation, in late 2021 ED released roughly 2,000 pages of reports, communications, and other records concerning its management of the AWG program during COVID.
Check out our data visualization of delinquencies on securitized FFELP debt surge.
The investigation reveals that “Training Repayment Agreement Provisions” (TRAPs) have become more prominent in use by major employers as a tool to trap people in poor working environments and low-paying jobs.
In an effort to continue investigating ongoing breakdowns denying borrowers access to PSLF, the American Federation of Teachers, the National Education Association, and the SBPC uncovered thousands of pages of documents from the company the Department of Education contracts with to manage PSLF: PHEAA.
The findings of this investigation include tens of thousands of never-before-seen instances in which federal student loan servicers inaccurately told credit reporting agencies that borrowers whose payments had been paused at the outset of COVID had stopped paying on their student loans.
This report is the result of an investigation that reveals potentially harmful business practices and possible fair lending risks by Stride Funding, an education finance firm that originates and markets Income Share Agreements (ISAs).
In a memo, the SPBC highlights how ISA companies are unlawfully depriving students of the ability to protect themselves from fraud by leaving out of their ISA contracts language required under the Federal Trade Commission’s (FTC) “Holder Rule.”
The SBPC, Allied Progress, Americans for Financial Reform, and Student Debt Crisis sent letters to the CEO of PayPal, Inc. and its regulators warning that the tech firm may be driving significant harm to borrowers attending for-profit schools.
The Student Borrower Protection Center and the Legal Aid Foundation of Los Angeles are collecting stories to shed light on the egregious, predatory practices used by collectors of private student loan debt to expose how these companies exploit the California court system to rip off borrowers.