Chicago Tonight: Should the Federal Government Cancel Student Loan Debt?
CEO Horacio Mendez spoke about forgiveness of student loan debt.
NCUA Tapped to Investigate Predatory Student Loans (Credit Union Times)
According to a media release from the Center for American Progress, the groups sent the letter to NCUA Chairman Debbie Matz Thursday and warned that loans made by federally chartered credit unions, federally insured, state chartered credit unions and...
Testimony of Katie Buitrago before the Consumer Financial Protection Bureau Field Hearing on Student Loans
150514_woodstock_CFPB_studentloans.pdf Testimony of Katie Buitrago before the Consumer Financial Protection Bureau Field Hearing on Student Loans. In this testimony Buitrago discussed the impact for-profit colleges have on students’ economic opportunities, with these students graduating with more debt and fewer...
Comment letter to the Consumer Financial Protection Bureau recommending expansion of public student loan data
150713_cfpb_servicing.pdfThis comment letter responds to the Consumer Financial Protection Bureau (CFPB) request for information on student loan servicing, in particular its questions on data. The letter draws upon lessons from the Home Mortgage Disclosure Act and the National Mortgage...
Barack Obama pushes for-profit colleges to the brink (Politico)
Reining in the multibillion-dollar industry has been the administration’s goal for most of President Barack Obama’s term in office, fueled by complaints that for-profit colleges lure students with misleading promises, then saddle them with debts they can’t pay back...
Community Investment Awards Highlight Secure Choice & Student Loans Report (Illinois Asset Building Group)
Amy Rynell, Senior Director of Research & Policy at Heartland Alliance, accepted Woodstock Institute’s Community Investment Award, stating: “Without access to easy, convenient tools to build retirement savings more people will experience a reduced quality of life in retirement,...
Consumer Protection Agency Probing Student Loan Services; Researchers Analyze Borrowing At For-Profit Colleges (Progress Illinois)
Public feedback is being sought by CFPB on “industry practices that create repayment challenges, hurdles for distressed borrowers and the economic incentives that may affect the quality of service.” The public comment period opened May 14 and will run...
Digging into diplomas — Corinthian bankruptcy battle brewing — Presidential library to be built in Chicago (Politico)
DIGGING INTO DIPLOMAS: The U.S. is on track for a 90 percent high school graduation rate by 2020 after hitting a record high 81 percent this year. That’s according to the GradNation campaign’s sixth annual report released by America’s...
Student Loan Servicers Should Show a Good Faith Effort Toward Better Outcomes, Says CFPB (Main Street)
Today, anyone clicking on Contact Your Student Loan Servicer at ED’s student aid Website, loan servicer advice is limited to phone etiquette — keeping “careful notes on all conversations you have” and making the suggestion that the Federal Student...
Report: Many students at for-profit colleges are more likely to take out student loans than other students, even in similar circumstances
“It’s well known that for-profit college students borrow—and default—more than students at public and nonprofit schools,” said Katie Buitrago, senior policy and communications associate at Woodstock Institute. “This research shows that even when for-profit students have socioeconomic backgrounds similar...