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More than 50 organizations urged state lawmakers to pass the Student Loan Borrower Bill of Rights
Even before the current COVID-19 pandemic, student loan borrowers struggled with a predatory student loan servicing industry that knowingly misleads borrowers to increase its profits. With the increased financial instability brought by the present pandemic-induced economic crisis, it is more important than ever that borrowers know their rights; are protected by strong consumer guidelines; and understand the resources and tools available to assist them.
"The Student Loan Borrower Bill of Rights will protect student loan borrowers from unfair, predatory, and deceptive practices of student lending and loan servicing companies, said Deirdre Cummings, MASSPIRG's legislative director. "The need for these protections is even greater today as we struggle with the hardships associated with containing the spread of COVID 19."
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