It’s time for Massachusetts to protect its student loan borrowers.

The federal government is systematically failing at overseeing student loan servicing agencies and protecting student loan borrowers. The Trump/DeVos administration has signaled repeatedly that they will turn a blind eye to student loan servicers’ increasingly deceptive, predatory, and illegal practices.

But YOU can make a difference HERE in Massachusetts!

This situation is alarming and worrisome. According to a recent report by the Office of Inspector General:

• 92 percent of the complaint calls it received included at least one instance of a loan servicer failing to inform a borrower about all available repayment options.

• 61 percent of the oversight reports included examples of loan servicers not following agency guidelines or adhering the law.

Emboldened by current administration, Navient, one of the largest servicing agencies, openly admitted in a lawsuit that they feel no obligation to act in the interest of the consumer.

In the face of federal refusal to regulate the loan servicing industry, Massachusetts must act to protect borrowers and enact our own Student Loan Bill of Rights.

Ten states have already done so, with New York, Maine, Maryland, Colorado, and Nevada joining the list in 2019. Other states, such as California, New Jersey, and Rhode Island, are steps away from passing their own Student Loan Bill of Rights.

SEND A LETTER to your representative or directly to the House Committee on Ways and Means Committee to approve bill H.3977* to establish a Student Loan Bill of Rights.

*A critical amendment was introduced in this version of the bill that would ensure that the office of the Student Loan Ombudsperson would be adequately funded to fulfill its duties.

To Learn more about this issue, click here, and to read our testimonial in favor of this bill, click here.