While the Senate continues to advance Betsy DeVos’ nomination to head the Department of Education, concerned parents, students, educators, community members, and a growing number of senators staunchly oppose her confirmation. DeVos may be President Donald Trump’s pick for Secretary of Education, but she is nothing more than another out-of-touch… Read More»
A new report released today by the Consumer Financial Protection Bureau (CFPB) reveals data that both federal and private student loan servicers are using illegal tactics to maximize their profits at the expense of borrowers. These illegal practices include charging unfair late fees and making harassing debt collection calls –… Read More»
Watch John Oliver break down the student loan crisis:https://www.youtube.com/watch?v=P8pjd1QEA0c
We’ve all heard about the meteoric rise of student debt: it now totals over $1.2 trillion and affects more than 40 million Americans. And while stories often focus on the unsustainable rise in college tuition costs and the incredible pace at which this debt multiplies, we must also pay close… Read More»
Wall Street continues to eye higher education investments as a new way to increase their bottom line. As college costs increase and students go further into debt, Wall Street has made a killing on profits from higher education spending while students and taxpayers foot the bill. Below are some shocking… Read More»
Earlier today, federal regulators ordered Sallie Mae to pay $96.6 million in penalties and restitution to student loan borrowers harmed by the company’s lending practices. Sallie Mae agreed to settlements with both the U.S. Department of Justice (USDOJ) and the Federal Deposit Insurance Corp (FDIC) for violations of the following… Read More»
On March 6, amid growing concerns that schools are receiving kickbacks from banks selling products and opening branches on their campuses, students at 20 campuses around the country delivered letters to their school’s administrators asking for increased disclosure about the details of these partnerships. Currently, colleges and universities are only… Read More»
Have you ever suspected your school is receiving kickbacks from banks in exchange for promoting their products and services on campus? Turns out, they probably are. Last week, the Government Accountability Office (GAO) released a report expressing concerns over such partnerships between banks and universities, and they’re not alone. In… Read More»
On September 19, 2013 Senator Elizabeth Warren asked the Department of Education questions that many college graduates who took out loans have been asking for years about Sallie Mae. She wrote in a letter to the department: “While the government has been quite tolerant of Sallie Mae’s failings and helped… Read More»