The Student Debt Crisis Center took over the airwaves of the Leslie Marshall Show on June 28, 2023 to provide analysis of the upcoming Supreme Court case that holds the fate of President Biden’s debt cancellation plan. This takeover episode includes special guests Abby Shafroth, Co-Director of Advocacy at the National Consumer Law Center and…
Originally airing on NPR on June 27, 2023, Bram Sable-Smith discusses state initiatives to cap or even ban certain interest charges on medical debt with Berneta Haynes. Haynes says policy initiatives should also focus on how to prevent medical debt in the first place. “Because once it [medical debt] happens, it seems like the situations…
Read More about NPR: The hospital bills didn't find her, but a lawsuit did — plus interest
Originally appearing in the Los Angeles Times on June 30, 2023, Jon Healey discusses options for borrowers that can’t afford monthly payments with NCLC’s Abby Shafroth. The very last thing you want to do, Shafroth says, is default. So if you’re still in a bind after changing your repayment plan, she said, you have two…
Originally airing on Marketplace on July 2, 2023, Samantha Fields discusses the administrations plan to transition borrowers back into student loan repayment with Abby Shafroth. “Interest will be charged to borrowers accounts and … bills will be sent out. But if borrowers miss their payments, or there’s confusion, they pay the wrong amount … their credit…
Predatory lenders use rent-a-bank schemes to avoid the usury limits of the consumer’s state, by seeking to bootstrap onto federal rate exportation rights available only to banks. These predatory non-bank lenders claim that they are only arrangers or servicers of credit originated by a bank. NCLC’s Consumer Credit Regulation § 3.5.4 sets out several challenges to such arrangements—such as…
Read More about Digital Library: New Angles in Challenging Rent-a-Bank Schemes
"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
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