The Coronavirus pandemic is a health crisis like we have never seen before, and it is colliding with the economic crisis of this generation — student loan debt. Lost wages and medical costs will impact families across the country for weeks, months, and years to
The COVID-19 pandemic requires an aggressive economic response that creates the best possible conditions to preserve public health and helps individuals, families, and communities weather the disruptions that efforts to contain the pandemic require.
Coalition letter responding to OMB RFI on the important role of current regulatory enforcement processes
AFREF and partners sent a letter to FHFA on how FHFA should approach PACE loans.
Coalition letter to HUD opposing changes to AFFH rule.
In the News: Trump suspends interest on all federal student loans to ease financial impact of coronavirus
“With so many facing the prospect of lost wages or lost jobs, the government can and should do more than waive interest, which is merely an economic Band-Aid on the gaping financial wound the pandemic is causing,” said Alexis Goldstein, senior policy analyst at the liberal think tank Americans for Financial Reform. “The Education Department has the authority to cancel student debt, and using it would mean both short- and medium-term economic stimulus that helps all Americans.”
In response to the COVID-19 pandemic and its devastating economic impact, Americans for Financial Reform calls on Congress and the U.S. Department of Education to use their authority to cancel federal student loan debt. Cancelling debt would be a powerful and efficient way to immediately relieve pressure on distressed borrowers, boost consumer spending at a time when the economy is contracting, and reduce hardship on people who lose income because of the pandemic and efforts to fight its spread.
Letter to Regulators: AFR Education Fund letter to the CFTC regarding proposed rule on swaps registration thresholds and transaction requirements to cross- border transactions
The Americans for Financial Reform Education Fund wrote a letter to the Commodity Futures Trading Commission urging them to strengthen a proposed rule that would fatally weaken the implementation of Title VII of Dodd-Frank and its application to CFTC-regulated derivatives markets. In the letter, AFR Education
Apart from the obvious fact that this is a public health crisis and should be treated as such, we should all be immensely skeptical of any suggestion from Wall Street that it needs a bailout or any kind of assistance. We need to help people, not profits.
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.