New Student Loan Consumer Group is Taking Initiative

A new student loan consumer watchdog group is taking initiative to help and protect student borrowers in the absence of government action.  This non-profit consumer group is led by people who quit the Trump administration Consumer Financial Protection Bureau and hope to serve as a check on the student loan industry.  Known as the Student Borrower Protection Center, its mission is to expand borrower protections and oversight of the $1.5 trillion student loan market.  The new center plans to encourage states and cities to step up enforcement actions against loan-servicing companies, debt collectors, for-profit schools and private student lenders. The group also plans to do advocacy work in states considering legislation that steps up oversight of student loan servicers and other parts of the industry, and lobby for a borrower bill of rights in California.  For more information or help with your student loan, please feel free to reach out to us. For more detail on this new consumer group, please review this article.