Yasmin Farahi ‌

Yasmin Farahi

Deputy Director of State Policy & Senior Policy Counsel

Payday and Other Small Dollar Loans Student Loans

Yasmin Farahi is a deputy director of state policy and senior policy counsel based out of CRL’s Durham, North Carolina office. She advises local organizations and lawmakers that are working to eliminate abusive lending practices in their states, with a particular focus on small dollar lending and student loans.

Prior to joining CRL, Yasmin was a civil rights attorney at Disability Rights NC working with clients who faced barriers to full participation in community life. She was also a consumer protection and employment law attorney at Legal Services of Southern Piedmont in Charlotte, NC, focused on helping homeowners facing foreclosure during the financial crisis.

Yasmin graduated with honors from N.C. State University with degrees in Political Science and Philosophy and received her law degree from New York University School of Law. Outside of work, she enjoys traveling, exploring the local food scene, and spending time outdoors with her family.

Research & Policy

Stepping Up: States Move to Hold Student Loan Servicers Accountable

Download a table of state student loan servicing laws from the report. (Updated September 2022) Today, 44 million Americans are saddled with student loan debt. They currently owe over $1.5 trillion—an amount which has more than doubled over the last decade. The causes of this exploding debt burden are many: increasing tuition, stagnant wages, the shifting role of federal government in student lending, divestment from higher education, and the growth in predatory for-profit colleges. Poor servicing practices, particularly placing borrowers in consecutive forbearances instead of appropriate...
Research
Student Loans

The Sky Doesn't Fall: Life After Payday Lending in South Dakota

For more than a decade, payday loans, car-title loans, and high-cost installment loans in South Dakota have carried charges exceeding 300% annual percentage rate (APR). In 2016, South Dakotans approved lowering the cost of payday loans, car-title loans, and installment loans to an annual interest rate cap of 36%, inclusive of all fees and charges. The vote in favor of the rate cap was overwhelming. In policy discussions about highcost small dollar lending, one of the most frequently asked questions is: what happens when a state enacts a rate cap? This paper seeks to add to this body of...
Research

New Jersey Must Act to Address Student Loan Crisis

In the last decade, student loan debt has exploded, directly impacting the lives of millions of Americans and leaving its mark on the entire economy. There are currently over 44 million Americans with student loan debt. With the costs of higher education continuing to rise at alarming rates and a college education becoming a requirement for more and more jobs, millions more will soon be joining their ranks. Burdened by extraordinary student loan debt and stagnant wages, a generation of Americans are delaying or forgoing opportunities to build wealth, such as purchasing their first homes or...
Policy & Legislation
Student Loans