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Social Security


  • Reports
    Oct 13, 2020

    Broken Promises: The Untold Failures of ACS Servicing

    A new report exposes millions of student loan servicing errors in the PSLF program. The investigation found loans owed by at least 1.3 million borrowers — and possibly millions more — had servicing errors due to the mismanagement of student loan servicing company Affiliated Computer Systems.

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  • Press Releases
    Oct 13, 2020

    New Report Exposes More Than Five Million Student Loan Servicing Errors Hindering Public Service Loan Forgiveness

    The report identifies over five million new ACS servicing errors that contributed significantly to the PSLF program’s failures and derailed promised loan forgiveness for hundreds of thousands of borrowers. These failures continue to plague public service workers seeking access to loan forgiveness today.

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  • Testimony & Remarks
    Oct 9, 2020

    Testimony of Tariq Habash Before the New Jersey Assembly Higher Education Committee

    Thank you for the opportunity to testify in favor of A.4407, which prevents state resources from flowing to schools and training programs that require students to consent to arbitration and waive other rights prior to a dispute arising.

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  • Reports
    Oct 6, 2020

    Protect Student Borrowers: How Washington Can End Trump-Era Obstruction and Demand Justice in 2021 and Beyond

    This report outlines a series of immediate actions that Washington can take to reverse obstruction by the Trump Administration that has denied justice for tens of millions of student loan borrowers.

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  • Blogs
    Oct 6, 2020

    Reversing Trump-Era Obstruction and Demanding Justice for Student Borrowers

    The Administration has repeatedly sided with some of the largest financial companies in America, rather than supporting efforts by law enforcement officials and regulators to protect borrowers and hold the industry to account. Borrowers deserve better.

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  • News Clips
    Oct 4, 2020

    Consumer advocates applaud designation of Student Loan Ombudsman for New Jersey

    Consumer advocates applauded the Murphy administration and the New Jersey Department of Banking and Insurance (DOBI) for designating a Student Loan Ombudsman to assist student loan borrowers and help resolve disputes with student loan servicers.

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  • News Clips
    Oct 3, 2020

    FedLoan’s board needs student advocates, finance experts, Pa. auditor say in new PHEAA report

    Auditor General Eugene DePasquale says Pennsylvania’s student loan servicing agency stands out for more than its size: Sixteen of its 20 board members are state legislators, ranking it among the most politician-heavy public boards in the nation, and it is lacking in outside financial experts.

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  • News Clips
    Oct 2, 2020

    PA Auditor General Calls For An Independent Student Loan Advocate

    Pennsylvania lawmakers should create an independent student loan advocate to help educate consumers and push for higher education reforms in the Keystone State, the state auditor proposed Thursday as he unveiled a set of three recommendations.

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  • Blogs
    Sep 18, 2020

    SLABS Dashboard

    Monitoring the Student Loan Asset Backed Securities (SLABS) market.

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  • Press Releases
    Sep 17, 2020

    Statement from Seth Frotman, SBPC Executive Director and former CFPB Student Loan Ombudsman, on Senate Resolution Calling for Administrative Action to Cancel Student Debt to Stimulate the Economy

    SBPC Executive Diretor Seth Frotman released the following statement on a senate resolution calling on the President to use existing authority under the Higher Education Act to provide broad-based debt cancellation to tens of millions of student loan borrowers.

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  • News Clips
    Aug 31, 2020

    Column: Too many students can’t shed crushing debt

    But one thing hasn’t changed. Ohio law still requires public colleges and universities across the state to turn student debt over to the Ohio attorney general’s office for collection. By the time I found out about this, my debt to OU had grown dramatically and now fees and fines have almost doubled it to just over $18,000. It’s not uncommon for debt being collected through the AG to grow even more exponentially, according…

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  • Press Releases
    Aug 31, 2020

    California Borrower Advocates Call on Governor Newsom to Sign the Student Borrower Bill of Rights Into Law

    Following approval by the California State Assembly, the Student Borrower Bill of Rights is being sent to Governor Gavin Newsom.

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  • Blogs
    Aug 28, 2020

    Relief Denied: Surveying Breakdowns in Pandemic Relief for Student Loan Borrowers

    We want to better understand the pain points student loan borrowers are facing when navigating their finances amid the coronavirus pandemic. That is why we are encouraging borrowers to share their stories by participating in our new survey aimed at identifying where these widespread errors and breakdowns are occurring in the student loan system.

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  • News Clips
    Aug 28, 2020

    PayPal cracks down on for-profit ‘schools’ misrepresenting PayPal Credit

    “We have already begun taking action against some of the entities mentioned in the letter that have been found to be using inaccurate or misleading messaging/characterization of our products,” PayPal spokesperson Joe Gallo stated, referring to the letter sent last week from the Student Borrower Protection Center (SBPC), Americans for Financial Reform, Student Debt Crisis and Allied Progress to PayPal CEO Daniel Schulman.

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  • News Clips
    Aug 27, 2020

    50 Organizations Call For Student Loan “Bill Of Rights”

    “Even before the current COVID-19 pandemic, student loan borrowers struggled with a predatory student loan servicing industry that knowingly misleads borrowers to increase its profits,” the coalition of organizations wrote in a letter to the Massachusetts state legislature. “With the increased financial instability brought by the present pandemic-induced economic crisis, it is more important than ever that borrowers know their rights, [and] are protected by strong consumer guidelines… In tumultuous times, taking action…

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  • News Clips
    Aug 22, 2020

    Consumer Groups Take PayPal to Task Over Student Loan Credit Line

    “All of these facets create a very questionable and predatory financing product,” said Seth Frotman, executive director of the Student Borrower Protection Center, a nonprofit advocacy group started by former members of the federal Consumer Financial Protection Bureau staff. The credit line illustrates an increasing use of “shadow” student loan debt, he said — funds borrowed for education outside traditional student lending options.

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  • Investigations Letters & Memos
    Aug 21, 2020

    Advocates Sound Alarm on PayPal’s Education Financing Partnerships with Over 150 For-Profit Schools

    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.

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  • Press Releases
    Aug 21, 2020

    PayPal’s Partnerships With Over 150 For-Profit Schools Drive Students to Take on High-Cost Education Debt, Advocates Warn

    An SBPC investigation found that PayPal Credit, a high-cost, digital credit product, is offered by over 150 for-profit schools as a means for students to finance tuition.

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  • Deep Dives
    Aug 19, 2020

    Deep Dive: Quantifying and Addressing the Student Debt Crisis in the Bay Area

    The following SBPC Deep Dive examines how the student debt crisis has affected the Bay Area in California, and the affordable repayment options that borrowers are entitled to under the law, like Income-Driven Repayment, are not reaching those most in need.

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  • Press Releases
    Aug 18, 2020

    Advocacy Groups Call on California Lawmakers to Pass the Student Borrower Bill of Rights

    More than 70 supporters, 57 state and national civil rights, higher education, and consumer advocacy organizations sent a letter to California Senators, urging passage of the Student Borrower Bill of Rights (AB 376, Stone).

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