STATEMENT from Student Debt Crisis on Sec. Hillary Clinton’s College Affordability Plan

STATEMENT from Student Debt Crisis on Sec. Hillary Clinton’s College Affordability Plan

STATEMENT from Natalia Abrams, Executive Director of Student Debt Crisis, on Sec. Hillary Clinton’s New College Compact – College Affordability Plan Student Debt Crisis is encouraged by today’s announcement of Secretary Hillary Clinton’s new college affordability plan. Following previous proposals from Governor Martin O’Malley and Senator Bernie Sanders, we are gratified that all three major Democratic presidential candidates have committed to addressing student debt and lowering the cost of higher education. This progress demonstrates that the issue of student loan debt and higher education has come a long way since the last presidential election. With respect to Sec. Clinton’s plan, we are discouraged by the lack of attention given to relieve existing borrowers from their crippling student loan debt. While we are appreciative of her support for refinancing student loans and agree that state disinvestment has been a large contributor to the increase in tuition prices, Sec. Clinton’s plan does not nearly go far enough and isn’t the “bold transformation” we had hoped she would deliver. At Student Debt Crisis, it is our job to continue to push our leaders until we have a comprehensive plan that helps existing borrowers as much as prospective students. That’s why we must continue to fight for total debt-free college and the cancellation of outstanding student loan debt. —————–   With over 1.2 million members calling to forgive student loan debt, Student Debt Crisis is deeply committed to reforming the way we pay for higher education in America.   Click Here to Read More  Click Here to Watch Sec. Hillary Clinton new video on Student...

SDC’s Statement on Corinthian Colleges Announcement by Department of Education

FOR IMMEDIATE RELEASE March 18, 2015 CONTACT: Natalia Abrams 646-820-8037 or 310-365-1069 – natalia@studentdebtcrisis.org Student Debt Crisis’ Statement on the Department of Education Announcing Action on Corinthian Colleges Shutdown. Today the Department of Education announced various steps that it will take to alleviate the burden on Corinthian College (Everest, Heald, WyoTech) students. Current and former students who were enrolled at a closed Corinthian campus as of June 20, 2014 can now apply for a refund. This is a 245 day increase from the current Closed School Discharge rule. In addition, students who can prove they were defrauded by their school – for example Heald College students who were lied to about job placement rates- may be entitled to a refund even if their school was not closed. While the announcement today is a step in the right direction, we are hesitant to applaud the Department of Education until we see these rules in practice, and most importantly until we hear directly from Corinthian students. “It is promising that the Department has taken on this issue, however we are disheartened by their desire to quickly pass the buck to a dysfunctional Congress. The Department of Education should embrace its expertise on the issue of student loan debt and seize the opportunity to lead in creating solutions. Instead, the Department chose to deflect its responsibility to a Congress that has proven its unwillingness to act on student loan debt.” – Natalia Abrams, Executive Director of Student Debt Crisis We implore  the Department of Education to exhaust ALL possible measures to help victims of for-profit colleges and borrowers struggling to repay their...

AFL-CIO, Student Debt Crisis, and 20+ Organizations Launch the Borrowers Hotline

Media Advisory for May 19-21                                                       Contact:Natalia Abrams 310-365-1069 AFL-CIO, Student Debt Crisis, and 20+ Organizations Launch the Borrowers Hotline Hotline will offer free counseling and advice for borrowers with student debt (Washington D.C) More than 40 million Americans are buried under a $1.3 trillion mountain of student loan debt but have limited resources and lack affordable assistance to help repay their loans. To help these borrowers manage their debt, apply for government programs, and enforce their legal rights, a group of labor unions, consumer advocacy, youth and student debt relief organizations are creating a website and holding a free three-day hotline. The website and the hotline will operate as a triage system to inform borrowers of what their available options are and provide resources such as referrals to student loan attorneys and vetted credit counselors.  Who: A large coalition of labor, youth advocacy and student debt relief organizations. For a full list of sponsoring organizations, click here. What: Free Student Debt Assistance Website and Hotline How: Visit www.theborrowers.org to get free resources and sign up for the hotline to help lower their monthly payments. When: The hotline will operate on May 19th – 20st from 9 AM – 10 PM ET and on May 21st from 9am – 3pm ET Why: Only 25% of eligible borrowers have taken advantage of federal resources to get favorable loan repayment options and far too many fall prey to predatory debt relief companies and scams. Driven by the belief that no one should pay for FREE government services, the coalition created The Borrowers Hotline to help all student loan borrowers who...

SDC’s Statement on Senator Elizabeth Warren’s Reintroduction of Bank on Students Emergency Loan Refinancing Act

FOR IMMEDIATE RELEASE March 18, 2015 CONTACT: Natalia Abrams 310-365-1069 – natalia@studentdebtcrisis.org Student Debt Crisis’ Statement on Senator Elizabeth Warren’s Reintroduction of Bank on Students Emergency Loan Refinancing Act Today, Senator Elizabeth Warren re-introduced the Bank on Student Refinancing Act. It’s simple, really: Americans can refinance their home loans and car loans, so it’s only right that student loan borrowers be able to do the same. Currently, student loan borrowers are not able to refinance under most programs. Senator Warren’s bill would give over 25 million Americans the option to refinance and make their student loans more affordable. Last week President Obama introduced the Student Aid Bill of Rights. The President’s proposal states that every borrower is entitled to an affordable repayment program – the ability to refinance student loans is a part of affordable repayment options. Over 55,000 people have signed Student Debt Crisis’ petition – Support the Bill of Rights for Student Loan Borrowers. They have made it clear that Americans want their legislators to create solutions. Senator Warren’s announcement today is exactly the response we hoped to see from our legislators and we look forward to more action from Congress to secure rights for ALL student loan borrowers. “We are pleased and encouraged by the re-introduction of Senator Elizabeth Warren’s bill: Bank on Students Emergency Loan Refinancing Act. The ability to refinance federal and private student loans at current rates should be a basic right extended to student loan borrowers. There is no reason that you can refinance your home, your car, and other forms of consumer debt, but not your student loans.”  – Natalia Abrams,...
SDC’s Statement on Student Aid Bill of Rights

SDC’s Statement on Student Aid Bill of Rights

FOR IMMEDIATE RELEASE March 10th, 2015 CONTACT: Natalia Abrams Phone: 310-365-1069 Email: natalia@studentdebtcrisis.org Student Debt Crisis’ Statement on President Obama’s Student Aid Bill of Rights Today at Georgia Tech University in Atlanta, President Obama announced his proposal for the Student Aid Bill of Rights. We are finally seeing the hard work of advocates and borrowers pay off with substantive results. This is by far one the most comprehensive proposals for student loan borrowers since the formation of Student Debt Crisis. We believe every borrower deserves access to quality, affordable education and the right to strong consumer protections for their student loans. The White House is making an important step in the right direction, and we urge Congress to stand with borrowers across the nation by adopting this proposal into law. “It is an honor to hear President Obama stand up for the rights of student loan borrowers, and we are thrilled that he announced the Student Aid Bill of Rights today in Atlanta, GA. This all-inclusive proposal, once fully implemented, will go a long way to help struggling borrowers everywhere.” ~ Natalia Abrams, Executive Director – Student Debt...

Student Debt Crisis’ Statement on the Department of Education’s Announcement to End Contracts with Five Debt Collection Agencies.

FOR IMMEDIATE RELEASE March 2nd, 2015 CONTACT: Natalia Abrams Phone: (646) 820-8037 Email: natalia@studentdebtcrisis.org Student Debt Crisis’ Statement on the Department of Education’s Announcement to End Contracts with Five Debt Collection Agencies. “We are enthusiastic about the Department of Education’s announcement to end their contract with five private debt collection companies. These companies have for years taken advantage of student loan borrowers by using unscrupulous practices to harm borrower’s credit and financial stability.  We encourage the Department of Education to take action to complete this proposal.  In addition, we ask that the same scrutiny placed on these predatorial private debt collectors also be applied to ALL student loan servicers” ~ Natalia Abrams, Executive...