Federal Family Education Loan Program

– Wikipedia

StudentLoanJustice.org is a US grassroots group based in 2005 by Alan Collinge with the purpose of reforming predatory lending practices within the American student loan trade.

Purpose[edit]

Specifically, the group requires the return of normal client protections to student loans, together with chapter protections and statutes of limitations. The group additionally requires the removing of exemptions given uniquely to the student loan trade from Fair Debt Collection Practices Act, the Truth in Lending Act, and state usury legal guidelines.[1] StudentLoanJustice.org has 16,080 members in its Facebook group [2] and extra members in its varied mailers and lists.[3]

The web site incorporates details about the student loan trade, together with the Higher Education Act of 1997, which it says allowed personal lending businesses to impose what it describes as “draconian” punitive measures upon debtors.[4] It additionally publishes tales from graduates who’ve had problem with student loan corporations.[5]

In 2007, StudentLoanJustice fashioned a Political Action Committee of the identical identify,[6] and was credited by employees for then-Senator Hillary Clinton as being the motivating power behind the Student Borrower Bill of Rights Act of 2006. [7]

StudentLoanJustice.org or its members have been coated by quite a lot of newspapers, radio, and tv reveals, together with The New York Times, The Los Angeles Times, National Public Radio, The Washington Post, The National Review, The Wall Street Journal, Public Broadcasting System, Fortune Magazine, Businessweek, Fox Television, CNN, CBS News, Democracy Now!, The Chicago Sun-Times, and others.[8]

In 2008, Collinge was chosen by CNN/Money Magazine as one in all seven Heroes for that 12 months.[9] In 2009, Collinge revealed The Student Loan Scam: The Most Oppressive Debt in U.S. History and How We Can Fight Back (Beacon Press).[10]

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In October 2020 in response to the COVID-19 financial downturn, StudentLoanJustice expended its mission assertion to incorporate a name for President Trump to cancel student loans by government order, as licensed by the The Higher Education Act of 1965 (HEA) (Pub.L. 89–329), which supplies the U.S. Department of Education the fitting to: “pay, compromise, waive or release” any student debt “however acquired, including any equity or any right or redemption”.[11] The organisation has a petition titled “Pandemic Response: Cancel Student Loans by Executive Order!” on Change.org, to that finish, which is nearing one million signatures.[12]

References[edit]