Skip to main content

Search form

Press Releases

November 23, 2022
Washington, D.C.– The Department of Education (ED) yesterday announced it has extended the pause of student loan repayment, interest and collections through June 30, 2023. The announcement comes as the administration awaits a requested Supreme Court ruling regarding lawsuits that have prevented its student loan cancellation plan from moving forward. Jaylon Herbin, director of federal campaigns at the Center for Responsible Lending (CRL), made the following statement: Tens of millions of student loan borrowers are relying on the courts to uphold the legality of the cancellation plan...
November 18, 2022
Washington, D.C.– The Department of Education (ED) and Department of Justice (DOJ) announced yesterday policy changes to the bankruptcy discharge process for student loan borrowers. The new changes simplify and standardize the process for economically distressed borrowers to discharge their debts. Whitney Barkley-Denney, deputy director of state policy and senior policy counsel at the Center for Responsible Lending (CRL), made the following statement: For decades, it has been nearly impossible for students to get their debts discharged through bankruptcy. The announcement is long...
November 1, 2022
WASHINGTON, D.C. – The high burden of student loan debt limits the future financial options of graduates of Historically Black Colleges and Universities (HBCU) and breaks the promise of a college education as a great equalizer, according to a new research report published today by the Center for Responsible Lending (CRL). The report, “Paying from the Grave,” highlights the impacts of systemic racism on wealth accumulation for families and unequal resource distribution among institutions. The research finds that student debt prevents many HBCU graduates from engaging in wealth-building...
October 26, 2022
WASHINGTON, D.C. – A federal appeals court last week temporarily stopped the Biden administration’s student debt cancellation plan, which is set to provide up to $20,000 in relief to eligible graduates from the nation’s more than 44 million student loan borrowers. In response, Jaylon Herbin, outreach and policy manager for the Center for Responsible Lending (CRL), made the following statement: Opponents of student debt relief are trying to prevent millions of Americans, including Black women and low-wealth borrowers disproportionately burdened by student debt, from enjoying wealth-...
August 31, 2022
WASHINGTON, D.C. – A new Morning Consult poll commissioned by the Center for Responsible Lending (CRL) found that the federal student loan payment pause has helped struggling borrowers pay for daily living expenses and other debts. Of those surveyed, 37% said the payment pause helped them pay for gas, food and transportation while 31% said it helped them pay for credit card debt, personal loans, among others. The poll also found strong bipartisan support for a wide range of actions to help students with the cost of managing debt. “While President Biden’s recent cancellation plan has given...
August 24, 2022
WASHINGTON, D.C. – The Biden Administration announced today that it will cancel $10,000 of student loan debt for borrowers who earn less than $125,000 as individual tax filers and $20,000 for Pell Grant recipients, providing billions in relief to the nation’s borrowers. The administration will also extend the federal student loan payment pause through December 31, 2022. In response, Jaylon Herbin, outreach associate and policy manager for the Center for Responsible Lending (CRL), made the following statement: We applaud President Biden for being the first sitting president to cancel...
August 17, 2022
Washington, D.C. – The U.S. Department of Education announced yesterday that it will discharge all remaining federal student loans for borrowers who attended ITT Technical Institute (ITT) from January 2005 through September 2016. The relief, $3.9 billion in total, will benefit about 208,000 borrowers. In response, Jaylon Herbin, outreach and policy manager for the Center for Responsible Lending (CRL), made the following statement: We applaud the administration for providing relief to the tens of thousands of former ITT Tech students who had been defrauded by their school. However,...
June 27, 2022
COVID-19-fueled unemployment and the student debt crisis disproportionately impact women of color. Washington, D.C. — The COVID-19 pandemic exacerbated gender disparities and left millions of women in a precarious financial situation. Its disproportionate impact on Black women and other women of color reduced their ability to repay their outstanding student debt, according to a new report by the Center for Responsible Lending (CRL). The research studied focus groups with women who lost a job during the pandemic. “We already knew that women of color bear the brunt of financial...
June 21, 2022
Advocates highlight benefits of cancellation to all borrowers, and particularly to Black and women borrowers, who bear the brunt of the debt burden. Washington, D.C. – Sixty civil rights, faith, community and consumer advocacy organizations are urging President Biden and Vice President Harris to use executive action to cancel $50,000 of student loan debt per borrower immediately to stimulate the economy, bridge the racial wealth gap and alleviate the financial suffering of millions of Americans. A letter, signed collectively, was sent to the White House Friday evening. “The Biden-...
June 2, 2022
WASHINGTON, D.C. – The Biden administration recently announced it would cancel all outstanding federal student loans held by 560,000 former Corinthian Colleges students. Center for Responsible Lending Senior Policy Counsel Whitney Barkley-Denney made the following statement: We applaud President Biden and Vice President Harris for this move. Tens of thousands of former Corinthian students who had been defrauded by their school, and left wondering for years how they’d recover the money they lost, are now at ease. The administration now needs to immediately cancel $50,000 of student...

Pages