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Social Security


  • News Clips
    Jun 8, 2019

    Editorial: California bill would help borrowers struggling with student debt

    It’s disturbing enough to know that 3.8 million student loan borrowers in California owe about $134.3 billion. The true cost of this debt load cannot be fully measured in those numbers.

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  • News Clips
    Jun 6, 2019

    How NJ plans to protect residents with student loan debt

    The Assembly Higher Education Committee discussed a bill that would give the state tools to go after student loan companies.

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  • Letters & Memos
    Jun 3, 2019

    SBPC and Civil Rights Groups Urge CFPB to Root Out Discrimination in Student Loan Industry

    In a letter to CFPB Director Kathy Kraninger, the SBPC and a wide range of civil rights organizations urges the CFPB to utilize its critical enforcement and supervision tools to protect borrowers from discrimination in the student loan industry.

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  • News Clips
    May 29, 2019

    California inches closer to unprecedented ‘Student Borrower Bill Of Rights’

    On Tuesday, the California assembly passed the “Student Borrower Bill of Rights,” or AB376, aimed at creating the first detailed set of rules protecting those holding student debt in the U.S.

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  • Blogs
    May 22, 2019

    Student Loan Forgiveness Cannot Work Without a Right to a Payment History

    The Trump Administration has raised the stakes for tens of millions of borrowers, pulling down planned consumer protections while advancing a sweeping new proposal that will cause more than 37 million borrowers’ loans to change companies in the coming years. The following guest post from Persis Yu, Director of the Student Loan Borrower Assistance Project at the National Consumer Law Center, illustrates how loan transfers can lead to serious problems for borrowers pursuing…

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  • News Clips
    May 22, 2019

    Our Turn: Seth Magaziner and Peter Neronha: A bill of rights for R.I. student borrowers

    Higher education can open the door to incredible opportunities and is a worthy investment in the future. But as we encourage Rhode Islanders to pursue higher education, we must also ensure that they are protected from deceptive and predatory loan servicing by enacting the Student Loan Bill of Rights.

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  • News Clips
    May 20, 2019

    Assembly committee meeting at UCI discusses ‘the changing face of the student debt crisis’

    Surging student loan debt that is “casting a shadow” over current and former borrowers brought the California Assembly Select Committee on Student Debt to UC Irvine for a discussion of the debt issue and efforts being made to support borrowers.

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  • Letters & Memos
    May 16, 2019

    SBPC and Labor Unions Demand CFPB Crackdown on Illegal Practices that Deny Public Service Workers Access to Loan Forgiveness

    In a letter to CFPB Director Kathy Kraninger, the SBPC and labor unions, demand the CFPB utilize its authorities to protect student loan borrowers working in public service.

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  • Testimony & Remarks
    Apr 23, 2019

    Keynote Remarks of Seth Frotman at the Federal Reserve Bank of San Francisco

    Small solutions lead to small outcomes. We need systemic reform. Not only for the 44 million student loan borrowers saddled with a bill each month, but also for the nearly 20,000 cities and towns in the country that are left with the fallout.

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  • News Clips
    Apr 22, 2019

    Bay Area student debt levels soar, hitting poor people hardest, study shows

    In a grim picture of student-loan debt across the Bay Area, a study released Monday shows that the amount owed has tripled in the past 15 years while the default rate has doubled, hitting low-income communities hardest.

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  • Blogs
    Apr 16, 2019

    Keeping America’s Promise

    For years, advocates, law enforcement, and regulators have been sounding the alarm on the impending Public Service Loan Forgiveness crisis. Millions of dedicated public servants have devoted their careers to serving their communities, based on the promise of the PSLF program. But now, as the first cohort of eligible borrowers are applying to have their loans forgiven, data shows that for many, that promise has been broken.

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  • News Clips
    Apr 11, 2019

    Opinion: Colorado will lead the effort to end the student debt crisis

    Colorado can and must change the status quo. The Regulate Student Loan Servicers Act (SB19-002) would do just that.

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  • Blogs
    Apr 8, 2019

    It’s Time for More Cops on the Beat

    For the past two years, this country has seen huge rollbacks of protections for consumers—from attacks on servicemembers’ rights to rules that protect borrowers of color from discrimination. Each time we think we’ve hit rock bottom and start believing that it can’t get any worse, the Trump Administration pulls out a stronger shovel. It’s time for more cops on the beat.

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  • News Clips
    Apr 4, 2019

    Taking on student debt, Mark Stone proposes legislation to reign in student loan servicing firms

    As the federal government withdraws from its role as a student loan watchdog, advocates and state-level politicians are trying to pick up the slack and rein in predatory practices by loan servicing companies.

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  • Blogs
    Mar 29, 2019

    What it means to be a student loan servicer: Guaranty Agency edition

    There has been a great deal of misinformation spread through state capitals about a special kind of private sector student loan company known as a “Guaranty Agency.” Industry lobbyists have tried to convince lawmakers that these companies are not performing “student loan servicing” under the definition commonly included in state legislative proposals—a definition modeled on federal regulations. The truth is these are student loan servicers.

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  • Blogs
    Mar 29, 2019

    Accounts Receivable & Withheld Transcripts: The Quiet Higher Ed Crisis That States Could be Tackling

    We are used to thinking of the higher education financing crisis through the lens of a singular issue: student loans. But recent court settlements at for-profit colleges have shed light on a less traditional type of student debt: past-due financial accounts, otherwise known as accounts receivable. While defaulted student loans can lead to long-term problems like bad credit and wage garnishment, accounts receivable have a much more immediate effect: a school can decide…

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  • News Clips
    Mar 29, 2019

    State officials launch push for student loan bill of rights

    Rhode Island’s treasurer and attorney general want a “student loan bill of rights” to protect borrowers from deceptive lending practices.

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  • News Clips
    Mar 27, 2019

    Former Federal Official On Why Maine Needs More Protections For Student Loan Borrowers

    A bill has been introduced in the Legislature that would establish a system for the state to oversee student loan servicers who do business in Maine.

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  • Testimony & Remarks
    Mar 27, 2019

    Testimony Before the California Assembly Committee on Banking and Finance

    Seth Frotman’s testimony at the California Assembly hearing, The Consumer Financial Protection Bureau: An Examination of the CFPB under the current Federal Administration and Options for California to Protect its Consumers.

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  • News Clips
    Mar 26, 2019

    Bill would create office to aid Mainers with student debt, rein in loan servicers

    Mainers have more than $6 billion in student debt, exacerbated by predatory practices of the student loan industry.

    More

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