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The CFPB action is an important reminder that private student loan borrowers are also plagued by predatory companies seeking to profit at their expense.
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Biden Administration announces revised guidance, overturning a 32-year-old policy prohibiting incarcerated student loan borrowers from consolidating their student loans.
Independent monitor ends oversight of Upstart network amid impasse and offers guidance for fair lending oversight in financial services; parties warn of risk of AI-driven bias in consumer lending.
The Bipartisan Workforce Pell Act will undercut Public Service Loan Forgiveness and the Biden Administration’s new SAVE Plan.
Civil rights, labor, and borrower advocacy groups representing millions urge the Education Department to hold a fourth negotiated rulemaking session to properly establish a rule to support borrowers experiencing hardship.
At a virtual event, SBPC and SLLI release a new report projecting widespread distress among California student loan borrowers in Latino/a communities.
Currently, most borrowers entering prison end up going into default because they are unable to make payments or even contact their servicer about available options. In fact, a recent analysis from the Student Borrower Protection Center found that nearly 100% of incarcerated student loan borrowers were in default.
“The vast majority of prison education programs are dependent on Pell funding,” said Amber Saddler, counsel at the SBPC. “If you’re in default, this new opportunity for prison education is closed to you.”
This Juneteenth, we continue the fight for economic justice and for Black Americans to have the full rights and privileges of the American Dream via access to the same basic educational opportunity, including a future without burdensome debt, that white families can often take as a given.