All posts by admin

No Thumbnail

Letter to CA State Assembly: AFR Supports the Student Borrower Bill of Rights (AB 376)

Americans for Financial Reform wrote to the California State Assembly in support of AB 376, the Student Borrower Bill of Rights. AB 376 would make California the first state in the nation to create a comprehensive set of rights for people holding student debt, by requiring student loan companies to treat borrowers fairly and giving borrowers the right to hold these companies accountable when they fail to meet basic servicing standards.

banter-snaps-12845-unsplash

Joint Letter: AFR, 55 other orgs support the PROTECT Students Act

Americans for Financial Reform joined 56 other organizations to express strong support for the PROTECT Students Act. This legislation would enact important protections for students and taxpayers
against predatory colleges that cheat students and leave them with large debts they cannot afford.
It also includes a far-reaching set of reforms to hold predatory colleges accountable
to both students and taxpayers.

No Thumbnail

News Release: Court Sides with Students Over DeVos’s Pro-Corporate Agenda

Americans for Financial Reform Education Fund applauds the news that a court has rejected the for-profit college industry’s attempt to stop the 2016 Borrower Defense rule. Today, the United States District Court for the District of Columbia sided with students over Betsy Devos’s attempts to let abusive for profit schools rip them off with impunity.

No Thumbnail

Letter to the Regulators: AFR Submits Comment on Borrower Defense NPRM

“The Proposed Rule is a brazen attempt to dismantle more than 20 years of borrowers’ rights to a defense to repayment on their loans when schools break the law. This dismantling will do nothing more than unleash a new wave of waste, fraud and abuse. This country teaches people that education is a path to a better life. For far too many years, allowing Title IV funds to flow to institutions engaging in fraud has turned this dream into a nightmare for their students. If the Department continues down this path of dismantling the right to a borrower defense, its legacy will be condemning students to lives full of poverty, while allowing executives of predatory proprietary institutions to become wealthy at their expense.”