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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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.
Mainers have more than $6 billion in student debt, exacerbated by predatory practices of the student loan industry.
The average student debt in Maine is more than $30,000.
Lawmakers in Augusta are discussing a bill to create a “Student Loan Bill of Rights.”
There is a great deal of misinformation surrounding student loans in bankruptcy. Most people believe that anything called a “student loan,” or any debt made to a student, cannot be discharged in bankruptcy. This notion is fundamentally untrue.
The difficulty of finding adequately paying jobs as well as the explosive cost of obtaining a college education have created a whole class of people who work hard but spend a large proportion of their lives repaying old college debts.
If the federal government is going to fall down in its response and ignore reality, then the state of Maryland must rise up to protect borrowers — a generation depends on it.
In Massachusetts, where graduates of both public and private colleges carry more than $30,000 in average debt, a bill sponsored by state Sen. Eric Lesser aims to combat one aspect of this growing problem — the questionable conduct of student-loan servicers.
Seth Frotman’s testimony at the Congressional hearing, “Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau.”
Under a proposal woven into the governor’s budget proposal, the state’s Department of Financial Services would be empowered to license some student-loan servicers—and revoke licenses for illegal behavior.
The attorney general’s office says that at least 58 percent of students in Oregon graduate with debt. Outstanding student loan debt in the state has surpassed $18 billion, with borrowers taking out an average of $27,000 in loans.
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 loan companies responsible for handling accounts for tens of millions of Americans.
The New Mexico House Commerce and Economic Development Committee passed a bill to enact a “Student Loan Bill of Rights” to protect student loan borrowers from exploitation.
By Tariq Habash and Mike Saunders | February 1, 2019 The recent law enforcement crackdown on for-profit colleges is well documented. These schools mislead students by promising a fast track to a brighter future and then loaded students up with mountains of debt for worthless degrees—a form of consumer fraud that stretches back for decades. But the public may be unaware of exactly how these schools operate. What occurs behind the scenes is ugly—a…
Seth Frotman gives remarks on the role advocacy organizations and foundations can play in ending the student debt crisis.
This past week, thousands of New Jersey parents proudly accompanied their children off to college. Sadly, Seth Frotman will not be along for the ride home after they graduate.
The number of people ages 60 and above with college debt in New York has risen 44 percent between 2012 and 2017.
Today, the Student Borrower Protection Center (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.
More than 700,000 Coloradans, from all corners of the state, are paying off student loans. And more than 20,000 rural student loan borrowers are severely delinquent, study finds.