Student Loans

Student loans create debt burdens that impact families for generations. Black Americans in general, and Black and Latina women in particular -- often are forced to take on more college debt than their white counterparts in pursuit of the American Dream. The student debt burden is felt most acutely by attendees of Historically Black Colleges and Universities. CRL successfully led a coalition of advocates that achieved substantial student debt cancellation in 2022. We continue to advocate for higher education policies to protect student loan borrowers and their parents from falling into a cycle of debt that keeps them from engaging in wealth-building activities. 

Filter Results

Resilient But Deeper in Student Debt: Women of Color Faced Greater Hardships Through COVID-19

Resilient But Deeper in Student Debt: Women of Color Faced Greater Hardships Through COVID-19

Women carry about two-thirds of the $1.7 trillion of federal student debt, with Black women more than twice as likely as white men to owe more than $50,000 in undergraduate student loan debt. Women carry about two-thirds of the $1.7 trillion of federal student debt, with Black women more than twice as likely as white men to owe more than...
More
Research
Student Loans

Broad Coalition of Organizations and Faith Leaders Urge $50K Cancellation of Federal Student Debt by Executive Action

Broad Coalition of Organizations and Faith Leaders Urge $50K Cancellation of Federal Student Debt by Executive Action

From the introduction to the letter: The undersigned civil rights, student, community, and consumer advocacy organizations, along with faith leaders from across the country, urge you to use the authority of executive action to cancel $50,000 of federal student loan debt per borrower to stimulate the economy, bridge the racial wealth gap, and alleviate the financial suffering of millions of...
More
Letters to Congress
Student Loans

500+ Organization Coalition Calls on President Joe Biden to Immediately Cancel Student Debt

500+ Organization Coalition Calls on President Joe Biden to Immediately Cancel Student Debt

A broad coalition of 529 community, civil rights, education, climate, health, consumer, labor, professional, food and farm, and student advocacy organizations wrote a letter to President Biden urging him to strengthen the economy, tackle racial disparities, and provide much-needed relief to help all Americans weather the pandemic and record inflation by using executive authority to cancel federal student debt immediately...
More
Letters to Congress
Student Loans

CRL Student Debt Cancellation HBCU Panel Discussion

CRL Student Debt Cancellation HBCU Panel Discussion

The Center for Responsible Lending (CRL) recently hosted a panel discussion to examine the student debt experience of students who attend or who have graduated from Historically Black Colleges and Universities (HBCUs). The group put faces to data as they discuss student debt cancellation and its potential impacts, particularly on people of color. Serving as moderator was Jaylon Herbin, CRL...
More
Policy & Legislation
Student Loans

Necessary Relief: Substantial Cancellation Will Ease the Burden of Unaffordable Student Debt (and Boost the Economy)

Necessary Relief: Substantial Cancellation Will Ease the Burden of Unaffordable Student Debt (and Boost the Economy)

The student debt crisis has been building for decades, and millions of families have seen their dreams derailed by unaffordable debt repayment burdens that block their path to financial stability. As college costs rose, students had to take on increasing amounts of debt to pay for higher education. At the same time, state student financial aid offerings were drastically reduced...
More
Research
Student Loans

Student Loan Industry Failure Could Jeopardize Help for Millions of Low-Income Borrowers

Student Loan Industry Failure Could Jeopardize Help for Millions of Low-Income Borrowers

Today, the Student Borrower Protection Center (SBPC), National Consumer Law Center (NCLC), Student Debt Crisis Center (SDCC), and Center for Responsible Lending (CRL) sent a letter to the largest trade organizations representing student loan lenders and servicers underscoring their legal obligation to faithfully implement the U.S. Department of Education’s (ED) recent fix for income-driven repayment (IDR).
More
Letters to Congress
Student Loans

Income-Share Agreements Burden Students with Unfair Terms and Unforeseen Costs

Income-Share Agreements Burden Students with Unfair Terms and Unforeseen Costs

“Income-share agreements,” or ISAs, fund a portion of educational costs in exchange for a percentage of a student’s earnings over time. Many ISA providers continue to argue that their products are not loans even though they lend money and subsequently require repayment, employing an old and predatory tactic that loan providers use to evade consumer protection guardrails. In fact, ISAs...
More
Policy & Legislation
Student Loans

One Door Closes & Others Remain: Institutional Loans and the 90/10 Formula

One Door Closes & Others Remain: Institutional Loans and the 90/10 Formula

The “90/10 Rule” is meant to ensure that for-profit schools are, in fact, competitive in the marketplace and are not relying only on taxpayers to survive. In other words, the rule is based on the principle that a viable educational program should be funded in part by students or employers who are willing to pay cash to invest in career...
More
Policy & Legislation
Student Loans

Millions of Student Loan Borrowers Need Overdue Income-Driven Repayment (IDR) Reforms

Millions of Student Loan Borrowers Need Overdue Income-Driven Repayment (IDR) Reforms

Download the letter to Secretary Miguel Cardona from 104 organizations representing students, student loan borrowers, teachers, workers, civil rights, veterans, people of faith, and consumers urging him to deliver on the promise of income-driven repayment (IDR) programs for federal student loan borrowers through the creation of an IDR restoration project, or an IDR waiver.
More
Letters to Congress
Student Loans

Restoring the Promise of Income-Driven Repayment: An IDR Waiver Program Proposal

Restoring the Promise of Income-Driven Repayment: An IDR Waiver Program Proposal

Many of the problems that led to the failure of the Public Service Loan Forgiveness (PSLF) program are IDR problems in disguise—such as borrowers being steered into the wrong repayment plan and Family Federal Education Loan (FFEL) servicers failing to tell borrowers of consolidation options. These problems will not be corrected by a solution that only addresses the PSLF program.
More
Policy & Legislation
Student Loans
Displaying 21 - 30 of 137