Veteran Borrowers

News Clips

Nov 11, 2020

A Sobering Figure for Veteran’s Day: 200,000 Service Members Owe Nearly $3 Billion in Student Loans

Roughly 200,000 service members owe nearly $3 billion in student loans and yet, just 17,534 have officially begun the process of having their loans discharged under the Public Service Loan Forgiveness program.

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Press Releases

May 1, 2020

Advocates and Veterans Groups Urge Financial Institutions to Follow Military Consumer Protection Law During COVID-19 Mobilizations

Groups send letters to the nation’s major financial institutions urging them to ensure that service members—including those called up to support COVID-19 emergency response efforts—are not being mistreated or denied their rights under federal law.

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Letters & Memos

May 1, 2020

SBPC, Military, and Veterans Groups Demand Industry Leaders Uphold SCRA Protections for Military Consumers

Groups send 21 letters to financial industry leaders reminding them of their obligations under the Servicemembers Civil Relief Act.

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Letters & Memos

Jul 18, 2019

SBPC and SVA Urge Department of Education to Protect Service Members from Student Loan Abuses

In a letter to Department of Education Secretary Betsy DeVos, the SBPC and Student Veterans of America (SVA), urges the Department of Education to abandon a policy intended to obstruct oversight by agencies charged with enforcing law that protect military borrowers including the Servicemembers Civil Relief Act (SCRA).

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Blogs

Jun 18, 2019

Betsy DeVos Wants to Give a Free Pass to the Student Loan Company That Ripped Off 78,000 Servicemembers

By Austin Evers and Seth Frotman | June 18, 2019 Last week, the U.S. Department of Education’s student lending arm, the Office of Federal Student Aid, radically changed the landscape of its planned billion-dollar contract to reshape student loan servicing in a move that tips the scales for Navient, one of the nation’s largest student […]

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Blogs

Feb 1, 2019

The Predatory Underworld of Companies that Target Veterans for a Buck

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 […]

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Blogs

Dec 13, 2018

Why is the Department of Education Dragging its Feet on Debt Relief for Disabled Veterans?

Hundreds of thousands of student borrowers, including 42,000 veterans, qualify to have their student loans cancelled because of a total and permanent disability (TPD). Yet few eligible borrowers take advantage of this benefit, in part because they have to actually ask for it. The Department of Education (ED) knows who these disabled borrowers are and could automatically discharge their loans today, but it has refused to do so even in the face of…

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