Boston – In response to the announcement today by the U.S. Department of Education that 323,000 borrowers who have a total and permanent disability (TPD) will receive more than $5.8 billion in automatic student loan discharges due to a new regulation, Persis Yu, director of the National Consumer Law Center’s Student Loan Borrower Assistance Project,…
FOR IMMEDIATE RELEASE: August 6, 2021 Statement of Persis Yu, the director of National Consumer Law Center’s Student Loan Borrower Assistance Project, in response to announcement that the student loan payment suspension has been extended until January 31, 2022. Washington, D.C. – “Borrowers are collectively taking a huge sigh of relief at the news that…
FOR IMMEDIATE RELEASE: July 8, 2021 Boston – Statement by Persis Yu, director of the National Consumer Law Center’s Student Loan Borrower Assistance Project in response to the announcement that PHEAA (FedLoan Servicing) will not be extending its federal contract in December. “Lawsuits by borrowers and the Massachusetts Attorney General have charged PHEAA (FedLoan Servicing) with…
Read More about Statement on PHEAA Not Extending its Servicer Contract with Dept. of Education
FOR IMMEDIATE RELEASE: MAY 4, 2021 Washington, D.C. – The U.S. Department of Education has appointed Richard Cordray, former director of the Consumer Financial Protection Bureau and Ohio Attorney General, as Chief Operating Officer of the Department’s Federal Student Aid, which oversees $1.6 trillion in outstanding federally-backed student loans held by more than 45 million…
FOR IMMEDIATE RELEASE: March 30, 2021 WASHINGTON, D.C. — Today, the National Consumer Law Center and the Student Borrower Protection Center released the following statements in response to an announcement by the U.S. Department of Education that it had taken steps to expand protections for over one million student loan borrowers with commercial Federal Family…
FOR IMMEDIATE RELEASE: March 29, 2021 Boston – Today, the U.S. Department of Education announced that it is temporarily easing paperwork requirements and cancelling the loans of 41,000 federal student loan borrowers whose disability discharges were revoked and loans were reinstated due to paperwork issues during the pandemic. A 2016 U.S. Government Accountability Office study…
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