Advocates discuss how states are starting to grapple with purportedly new categories of small-dollar loans: earned wage advances and other types of fintech cash advances.
Read More about American Banker: States must protect consumers from high-cost fintech cash advances
"We are deeply disappointed by this decision: It is wrong on the law and threatens the financial security of millions of low-income Americans who are struggling with unaffordable student loan debt."
Read More about Protecting Student Borrowers after U.S. Supreme Court Blocks Student Debt Relief
6-3 Opinion Blocks President Biden’s Student Loan Cancellation Plan [NOTE: Advocates to hold virtual press briefing on ruling at 12 pm ET. Register here.] WASHINGTON – Today, in a 6-3 opinion, the U.S. Supreme Court ruled that President Biden’s student debt relief program, which would have offered up to $20,000 in relief to working and…
An article appearing in USA Today on March 7, 2023 by Alia Wong and Chris Quintana covers Democratic lawmakers’ support for President Joe Biden’s student loan forgiveness plan and quotes Abby Shafroth. A return to loan payments, absent avenues for relief, could throw many borrowers into financial disarray. “This is a real disaster waiting for us.”…
“The Biden Administration promised much-needed student debt relief, and 26 million people have already applied for it. If the Supreme Court pulls the rug out from under them, it will be devastating."
Two cases before the U.S. Supreme Court challenge President Biden’s transformational plan to cancel up to $20,000 in student debt for eligible borrowers.
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