Today the Student Borrower Protection Center (SBPC) and Americans for Financial Reform (AFR) sent letters to one dozen large private student lenders urging the companies to take steps to mitigate borrower harm caused by the economic fallout of the coronavirus. Private student loan borrowers were not provided any relief by Washington’s emergency economic stimulus legislation. In light of this critical omission, and given the widespread financial impact of COVID-19, advocates are urging the largest student lenders to act quickly to protect borrowers.
FOR IMMEDIATE RELEASE March 26, 2020 CONTACT: Alexis Goldstein, firstname.lastname@example.org The CARES Act fails to provide sufficient relief to federal student loan borrowers Statement from Alexis Goldstein, Senior Policy Analyst, Americans for Financial Reform: The 43 million federal student loan borrowers are not getting meaningful
FOR IMMEDIATE RELEASE March 25, 2020 CONTACT: Alexis Goldstein, email@example.com Halt to Student Loan Collections Must Go Back Further, Include All Borrowers Statement from Alexis Goldstein, Senior Policy Analyst, Americans for Financial Reform: Education Secretary DeVos’s announcement that some forced collections will be halted is
The McConnell Phase 3 #COVID19 bill offers only minor tweaks for some federal student loan borrowers. Even with those tweaks, the bill fails to address the enormity of the pending economic crisis. The economic dam is about to burst and McConnell is offering student loan borrowers nothing but a deflated, leaky life vest.
The Trump Administration’s minor tweaks for some federal student loan borrowers are insufficient and fail to tackle the crisis. The Department of Education announced that borrowers with federally held student loans will have the option to suspend payments, but will need to contact their servicer in order to request it. This requires effort on the part of borrowers who are already under stress. This is coming at a time when many student loan servicers are closing call centers or reducing hours. Worse still, it leaves out some federal student loan borrowers whose loans are not federally held.
The 20 undersigned community, civil rights, consumer, and student advocacy organizations applaud the Senate Democrats’ student debt cancellation proposal. The plan will take decisive action to get immediate and impactful relief to millions of Americans. It will enable many economically distressed borrowers to focus on their own personal safety and that of others, while also freeing up extra dollars they can use to put back into the economy.
FOR IMMEDIATE RELEASE March 19, 2020 CONTACT: Alexis Goldstein, firstname.lastname@example.org Senate Democrats Plan to Cancel Student Debt Would Stimulate the Economy and Provide Crucial Relief to Borrowers Statement from Alexis Goldstein, Senior Policy Analyst, Americans for Financial Reform: “The Senate Democrats plan to cancel student
AFR Applauds the Senate vote to block harmful rollback of Borrower Defense protections. Every Senate Democrat voted to roll back the 2019 changes that makes it even more difficult for students at schools that broke the law to get the debt relief they deserve. Joining the Democrats were ten Republicans: Senators John Boozman, Shelley Moore Capito, Susan Collins, Joni Ernst, Cory Gardner, Josh Hawley, Martha McSally, Lisa Murkowski, Rob Portman, Dan Sullivan, and Todd Young all voted to reject DeVos’ proposal that gave the green light to bad actors.
The amici submitting this brief are consumer organizations with an interest in the constitutional analysis that determines whether the structure of the Consumer Financial Protection Bureau (CFPB) is consistent with separation-of-powers principles … The amici submitting this brief are consumer organizations with an interest in the constitutional analysis that determines whether the structure of the Consumer Financial Protection Bureau (CFPB) is consistent with separation-of-powers principles …
Americans for Financial Reform welcomes the passage of H.J. Res. 76 to roll back Education Secretary Betsy DeVos’ devastating attempt to make debt cancellation for scammed students nearly impossible. The resolution passed 231 to 180 with bipartisan support; 6 Republicans and all Democrats voted yes, with 19 members not voting.