The Consumer Financial Protection Bureau’s (CFPB) recent enforcement action against Ejudicate, a forced arbitration platform, highlights the urgent need to restrain a practice that hurts millions of consumers. The agency found Ejudicate had misled student borrowers about its neutrality in arbitration and illegally started sham forced arbitrations against those borrowers.
AFR joined a letter urging appropriators to make bold new investments in the Pell Grant program.
AFREF joined a letter calling on President Biden to extend the payment pause on student loans.
AFREF joined a letter to the CFPB in response to their inquiry on employer-driven debt.
AFREF joined a comment letter in response to the Education Department’s Notice of Proposed Rulemaking on prison education programs, 90/10 and change of ownership.
We are well into the Biden administration and approaching a pivotal time in his Presidency where all hope could be lost on an issue I care a lot about: student debt. We are facing the possible flipping of Congress, student borrowers are in constant flux–unaware of when their loan servicers will be unleashed on them in the midst of a broken repayment system… and I’m afraid. I, like the rest of us, am still waiting for a portion of federal student debt to be canceled, one of Biden’s biggest campaign priorities. And despite the chatter of this announcement being forthcoming, we’re still on standby.
AFR joined a letter calling on President Biden to extend the payment pause on student loans until he cancels student debt.
AFR joined a letter to Congress in support of repealing taxation of Pell Grants.
This week the Department of Education announced that it will discharge all remaining federal student loans for borrowers who attended any campus owned or operated by Corinthian Colleges Inc. The relief will total $5.8 billion and cancel debt for 560,000 borrowers, without any additional action needed.
AFR joined a letter to Treasury expressing concern that their practice of reducing or eliminating payments made in tax refunds to low-income families undermines the social safety net and threatens to push millions of children into poverty.