Delivering Debt Relief
Millions of Americans with student debt are facing extreme economic hardship while being denied access to critical debt relief.
The student loan system is broken. For decades, servicing abuses and federal mismanagement have left student loan borrowers with ballooning balances and crushing debt, exacerbating economic inequalities and stifling opportunity and the greater economy. Congress gave borrowers the right to have their student debt wiped clean as a safeguard against economic hardship. But as a result of mismanagement and abuse, programs such as Income-Driven Repayment, Public Service Loan Forgiveness, disability discharge, and borrower defense have failed to deliver, denying millions of borrowers critical debt relief.
What We’re Doing
Protect Borrowers investigates and exposes broken programs and systemic abuses that force servicemembers, public service workers, defrauded borrowers, borrowers with disabilities, low-income borrowers, and other borrowers from historically marginalized groups to shoulder debts that should have been cancelled under the law.
We engage in research and analysis to show the crushing effect that debt has on working families and the economy writ large. We collaborate with legal experts across the country to develop novel legal theories and approaches to ensure that borrowers get the relief they are entitled to under the law and to end the crushing burden of debt for borrowers trapped in an unjust system. We also advocate for policy change to strengthen borrowers’ rights and alleviate the burden of student debt.
Protect Borrowers leads a national coalition of labor, civil rights, students and borrowers, economic justice, and consumer advocacy organizations that called on President Biden to deliver broad-based debt cancellation for all student loan borrowers.
By The Numbers
The Biden Administration:
$188.8 billion for 5.3 million borrowers
Approved a cumulative $188.8 billion in loan relief for 5.3 million borrowers across 33 executive actions.
$57.1 billion for 1.45 million borrowers
Fixed longstanding problems with Income-Driven Repayment, resulting in $57.1 billion in loan relief for 1.45 million borrowers.
$78.5 billion for 1 million borrowers
Restored the promise of Public Service Loan Forgiveness, resulting in $78.5 billion in loan relief for over 1 million borrowers.
$18.7 billion for 633,000 borrowers
Automated discharges and simplified eligibility criteria for borrowers with a total and permanent disability, resulting in $18.7 billion in loan relief for 633,000 borrowers.
$34.5 billion for 2 million borrowers
And delivered long-awaited help to borrowers ripped off by their institutions, whose schools closed, or through related court settlements, which resulted in $34.5 billion in loan relief for just under 2 million borrowers.