According to new data obtained by Jobs With Justice Education Fund, only 1 percent of potentially eligible borrowers are currently enrolled in the U.S. Department of Education’s Public Service Loan Forgiveness program. More than 33 million Americans, including teachers, emergency personnel, social workers, and those employed at nonprofit organizations stand… Read More»
Update (10/30/2015): This week, the Obama administration finalized rules that ban fees on debit cards given to students as part of their federal financial aid. These new standards, which go into effect next July, will eliminate charges for overdrafts and other fees, and require card companies to make sure that students… Read More»
It’s the time of the year when many similar stories surface announcing that this year’s class of graduating students will hold the most debt on record. Almost identical articles were written last year, and they will likely be written again next year. Yes, the class of 2015 holds the unfortunate… Read More»
For the more than 40 million student debtors who, on average, owe $30,000, keeping up with bills every month is next to impossible. In fact, new data released by the Department of Education shows that nearly a third of all student debtors with federal student debt are behind on their… Read More»
Fifteen former students have launched the first-ever student loan debt strike in U.S. history. The strikers, dubbed the “Corinthian 15” after the now-bankrupt network of for-profit schools they attended, announced the strike with a simple message directed at the Department of Education: “We owe you nothing.” Last year, Corinthian Colleges,… Read More»
Last Friday, the Department of Education made a huge announcement that it’s cutting contracts with five private companies it had hired as debt collectors on defaulted student loans. For years, Jobs With Justice has worked closely with our allies, including the Student Labor Action Project, US Student Association, and the… Read More»
UPDATE 5: Since 2019, three additional bills have passed, including in Georgia (HB 42), Louisiana (HB 423), and Texas (SB 37). UPDATE 4: During the 2019 state legislative cycle, Kentucky (HB 118) passed a law to end the practice of revoking someone’s professional license if they defaulted on their student… Read More»
For the millions of Americans drowning in debt, non-payment is not an option, and student debt is the worst kind of debt to have. As Senator Elizabeth Warren once remarked, the powers of student-loan debt collectors “would make a mobster envious.” If you’re a company that holds student debt, on the… Read More»
Did you know that in two states not paying your student loans could mean your driver’s license can be revoked? That’s the harsh reality for those who have had to borrow to pay for college in both Montana and Iowa, where there are laws that allow the state to take… Read More»
The Consumer Financial Protection Bureau (CFPB) made a splash earlier this month by taking action against two student “debt relief” scam companies, banning one from the industry and suing another. While this isn’t the first time this year that these companies have come under fire for their predatory business practices,… Read More»