The Consumer Financial Protection Bureau (CFPB) is requesting information about ways to provide relief for private student loan borrowers. Comments must be received on or before April 8, 2013. This is a critical opportunity for borrowers and their advocates to provide inpu
Despite all of the government money spent on financial aid, the difference in college graduation rates between our nation’s top and bottom income groups has widened by nearly 50% over two decades. We need to reset our nation’s policy priorities so that student borrowers ar
2012 is almost over and it’s time for our annual “look back” at the year that was. Student loan issues were a hot topic this year. Much of the attention centered on legislation this summer that temporarily prevented student loan interest rates from d
The U.S. Senate Banking Subcommittee on Financial Institutions and Consumer Protection held a hearing earlier this week, “Private Student Loans: Providing Flexibility and Opportunity to Borrowers?” In our testimony, we called on Congress and regulators to act now to
The U.S. Senate Committee on the Judiciary Subcommittee on Administrative Oversight and the Court held a hearing this week on “The Looming Student Debt Crisis: Providing Fairness for Struggling Students.” In our testimony, we focused on the importance of restor
The Consumer Financial Protection Bureau (CFPB) announced today that it is seeking comments about the private student loan market. The Bureau wants to hear from everyone: borrowers, their families, current students, advocates, lenders, servicers, and school officials.
We wrote a report in 2009 about the lack of relief for financially distressed private student loan borrowers. Unfortunately, we have seen little progress in the past few years and in some cases, the situation is even worse for borrowers. We often try to negotiate with priv
President Obama signed financial reform legislation this summer that creates a new consumer financial protection bureau (CFPB). The CFPB will have rule writing authority over private student lenders, including bank and non-bank lenders. The CFPB will also have en
In April 2010, separate bills were introduced in the U.S. House and Senate to restore bankruptcy dischargeability of most private student loans. The House Judiciary Committee held a hearing on H.R. 5043. Deanne Loonin of NCLC testified in support of the legislation. &
2009 was a big year in the student loan world. Unfortunately, as the economy has worsened and joblessness rates have increased, more and more student loan borrowers are finding it difficult to deal with overwhelming debt loads. We will write more in 2010 about our clients
Please understand that we do not provide legal advice about individual cases. This web site includes links to other resources for those who seek individualized legal advice or other help not offered here. This site is for people who already have student loans and want to know more about their options and rights.