Ben Kaufman, director of research and investigations at the Student Borrower Protection Center, says boot camps are more broadly reflective of the country’s refusal to recognize education as a public good. Instead, it’s viewed as something people should pay — often quite a lot — to access.
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Given problems at 2U, ED needs to lay the groundwork now to ensure that student loan borrowers have a clear path to relief if an OPM folds or suddenly changes its offerings due to problems at the corporate level—and it needs to make students and the public aware of those plans immediately.
“…based on recent data from the Education Department, the SBPC found that while over 9 million public servants have student debt and are eligible for loan forgiveness, just 2% – or 130,730 – have actually seen relief since November 2020. That’s partly because, according the SBPC, fewer than 15% of the 9 million borrowers have filed paperwork to track their PSLF progress.”
Today, the Consumer Financial Protection Bureau (CFPB) launched a first-of-its-kind federal inquiry into employers’ growing use of debt as a predatory tool to trap people in abusive jobs and poor working conditions.
Yesterday, Washington Attorney General Bob Ferguson filed a lawsuit against the disgraced online tech sales bootcamp Prehired, LLC and its founder, Joshua Jordan, for a startling array of illegal acts and practices.
The SBPC released a new estimate that over 9 million public service workers with federal student loans are eligible for debt cancellation through PSLF, and a coalition of labor unions representing more than 7.5 million workers joined with SBPC to launch a national campaign to reach public service workers.
In a letter to the CFPB, the SBPC and Dr. Stephanie Hall of The Century Foundation call on the CFPB to protect borrowers from predatory practices by OPMs. A recent GAO report revealed that ED is failing to supervise the market.
We sent a letter to the CFPB calling on the agency to step in and protect students from predatory conduct by OPMs—something ED has proven unable or unwilling to do for more than a decade.
552 community, civil rights, education, climate, health, consumer, labor, professional, food and farm, and student advocacy organizations urge the Biden Administration to immediately cancel student loan debt via executive action.
See here to read Mike Pierce’s May 5, 2022, testimony.
New bills in Louisiana would ensure borrowers have protections against rampant predatory loan servicing and would require private student loan companies to report to state financial regulator.
This memo explores how to fully remedy the administrative failures and servicer misconduct around IDR.
Organizations from all 50 states demand executive action on student debt as new tracking poll continues to show likely voters support action by 2:1 margin.
California’s Department of Financial Protection and Innovation can protect students from runaway institutional debts through its existing ability to regulate schools as debt collectors when they choose to act as such.
This memo addresses how the federal government’s proposal for remedying the failures of IDR only partially addresses borrower struggles with being steered into deferment before and after 2013.
SBPC finds that 71 percent of likely voters ages 18-34 support student debt cancellation for all borrowers; 56 percent of Republican younger voters support cancellation; Younger voters with no debt support cancellation by a 3:1 margin.
SBPC poll finds that 71 percent of likely voters ages 18-34 support student debt cancellation for all borrowers; 56 percent of Republican younger voters support cancellation; Younger voters with no debt support cancellation by a 3:1 margin.
A map showing a new analysis of indicates major state-level momentum across the country to take action against transcript withholding.
“Truly wealthy families do not borrow for college at all and do not hold student loans,” Kat Welbeck, director of advocacy and civil rights counsel at the Student Borrower Protection Center, told Fortune. “And when they do, they pay off debt much more quickly. The way we measure ‘progressivity’ with nearly every other social program is how benefits compare to a share of income. Student debt-to-income ratios are much higher for the poorest households, and therefore the…
As Biden contemplates an imminent decision on student debt relief and the Senate Banking Committee prepares for a major student loan-focused hearing featuring SBPC Executive Director Mike Pierce, SBPC and Data for Progress release the latest in a series of polls tracking the impact of student debt on American families.