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Public Testimony: Alexis Goldstein calls on ED Department to Reinstate MOUs with the CFPB
October 4, 2017 – 11:26 am
Public Testimony: Alexis Goldstein calls on ED Department to Reinstate MOUs with the CFPB

Today at a public hearing at the Department of Education, AFR’s senior policy analyst gave testimony about the need to reinstate the Memorandum of Understanding with the CFPB, ended by Secretary DeVos to widespread criticism.

AFR Statement: AFR Urges the Senate to Reject Betsy DeVos for Education Secretary
February 1, 2017 – 4:13 pm

“It is crucial that any nominee for Education Secretary of the Department of Education not only affirm the need to enforce existing rules that seek to protect both students and taxpayers from fraud, but also clearly articulate plans to rapidly pursue additional automatic group discharges. Betsy DeVos has done neither. Americans for Financial Reform urges the members of the Senate to reject Betsy DeVos’s nomination as Secretary of the Department of Education.”

AFR Statement: AFR applauds automatic debt discharges at ACI, calls for further action
January 13, 2017 – 1:49 pm

Americans for Financial Reform (AFR) applauds the news that the Department of Education will grant automatic discharges to all former students of American Career Institute (ACI) in Massachusetts. Before being confirmed, any nominee for Secretary of the Department of Education must clearly articulate plans to rapidly pursue additional automatic group discharges, to ensure that all Americans are protected from future exploitation of taxpayer-backed loans by predatory schools.

AFR Statement: Final Borrower Defense to Repayment Regulations
October 28, 2016 – 12:29 pm

AFR welcomes the news that the Department of Education has finalized a rule that will prohibit the use of forced arbitration at schools. We hope that as the Department moves forward to procedural guidance and to enforcement that it does everything possible to ensure that no defrauded borrower be left buried in debt from a school that broke the law, betrayed its students, and cheated taxpayers.

AFR Statement: Education Department Must Immediately Cease Collections on Defrauded Corinthian Students, Cancel their Debts without Application
September 29, 2016 – 9:37 am

Americans for Financial Reform (AFR) is dismayed to learn that the Department of Education is still actively collecting on nearly 80,000 former Corinthian students. These actions run counter to the requests of AFR and a …

Letter to Regulators: AFR Calls on the Dept of ED to Make Wronged Students Whole in the Borrower Defense Rule
August 1, 2016 – 9:00 pm

AFR submitted comments to the Department of Education suggesting ways to ensure that their borrower defense proposal can truly provide a fair and transparent processes for students seeking debt relief following illegal acts by their schools.

Letter to Regulators: Over 10,000 AFR Members call on Dept of ED to Protect Scammed Students
August 1, 2016 – 8:40 pm

Over 10,000 members of Americans for Financial Reform signed a petition calling on the Department to provide full loan relief to defrauded students, provide automatic loan cancellation when there is sufficient evidence of a school’s wrongdoing, not impose time limits on relief for defrauded borrowers, and close gaping loopholes allowing unscrupulous schools to prevent injured students from having their day in court.

AFR Statement: The Department of Education’s Proposed Rule on Borrower Defense to Repayment
June 13, 2016 – 4:10 pm

“For years, advocates have urged the Department of Education to relieve the staggering debt of students who attended for-profit colleges like Corinthian which broke the law. Today, the Department released a forward-looking proposal outlining how students who were victims of illegal acts by their school may pursue a ‘borrower defense to repayment,’ or cancellation of the debt on their federal student loans. We look forward to working with the Department to improve the final proposal so that all students victimized by unlawful and deceptive conduct receive every penny of relief they deserve.”