We applaud many of ED’s proposals to ensure that incarcerated individuals’ renewed Pell Grant eligibility yields the most benefit to them and is not abused by predatory for-profit institutions. However, we urge ED to, at a minimum, automatically enroll all defaulted incarcerated borrowers in Fresh Start. We also urge ED to create a long-term automatic…
Americans are struggling under very high debt burdens. An estimated one in every three adults with a credit report has a debt in collection. For the vast majority of these consumers, it not an unwillingness to pay their debts but a host of other factors that lead people into the hands of debt collectors, including…
Interest rate limits are the single most effective tool states have to protect their residents from predatory loans. Predatory loans include payday and car title loans that often carry annual interest rates as high as 300% or more. Predatory loans also include high-cost installment loans and lines of credit with rates approaching and well exceeding…
Read More about Group comments on OCC Notice of Proposed Rulemaking, Permissible Interest on Loans
Congress is working to extend its historic improvements to the Child Tax Credit that will slash child poverty. Congress made significant improvements to the Child Tax Credit (CTC) for 2021 that are projected to cut child poverty by more than 40%. Legislation to extend these improvements is currently being considered as part of the reconciliation…
Read More about Delivering on the Child Tax Credit: Protect Payments from Government Offset
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