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. 

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Gainful Employment Regulations Needed to Protect Students

Gainful Employment Regulations Needed to Protect Students

On May 27, 2014, the Center for Responsible Lending submitted a comment to the Department of Education in response to their proposed gainful employment rule. In the comment, senior policy counsel Maura Dundon highlights: how for-profit colleges may fail to provide students the skills or education necessary to seek gainful employment, yet still be the beneficiaries of federal financial aid...
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Student Loans

Coalition Comment Letter on Proposed Gainful Employment Regulation

Coalition Comment Letter on Proposed Gainful Employment Regulation

CRL added its support to a broad coalition calling for the Department of Education to ensure that its final gainful employment rulemaking must be strengthened to protect both students and taxpayers. This comment letter identifies four specific initiatives to ensure that taxpayers dollars do not support waste, fraud or abuse.
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Student Loans

For-­Profit Colleges Saddle African-­American and Latino Students with Crushing Debt, Poor Employment Prospects

For-­Profit Colleges Saddle African-­American and Latino Students with Crushing Debt, Poor Employment Prospects

Enrolling in a for-profit college usually means higher costs of attendance and higher default rates on student loans. This research brief explores why students of color – African-American and Latino - enroll more frequently in these schools than do white students. CRL also reviews how the Department of Education's proposed Gainful Employment rule could improve student outcomes.
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Student Loans

Department of Education Rulemaking to Define ‘Gainful Employment’

Department of Education Rulemaking to Define ‘Gainful Employment’

With America's student debt now more than $1 trillion and still growing, many borrowers face the likelihood of delaying their ability to begin their own households, buy a home or a vehicle. Further, in a tight job market, many new graduates are financially challenged to begin repayment even with their newly-acquired marketable skills. For consumers enrolled in predatory career education...
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Student Loans

Comment on Proposed Regulations for For-Profit and Occupational Schools

Comment on Proposed Regulations for For-Profit and Occupational Schools

CRL recently expressed support for the Massachusetts' Attorney General proposed regulations for occupational and for-profit schools. In its comments, CRL cited that although only 13 percent of students are enrolled at these schools, they account for 46 percent of federal student loan defaults – often in addition to high-cost private loans.
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Student Loans

Comment on Forced Arbitration Agreements in College Federal Aid Applications

Comment on Forced Arbitration Agreements in College Federal Aid Applications

In reply to the Department of Education's request for comments on the form used by colleges to apply to be eligible for federal student loan funds, CRL called for attention to the arbitration agreements between schools and their students and employees. CRL said that forced arbitration undermines the transparency and accuracy of information reported by the schools, and could threaten...
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Student Loans

State of Lending: America's Household Balance Sheet Chapter

State of Lending: America's Household Balance Sheet Chapter

This chapter in the State of Lending report series presents a picture of the overall financial status of U.S. consumers today. It is based on data from the Consumer Expenditure survey, the Survey of Consumer Finances, and other national data sources. These sources reveal that, since 2000, American families have faced declining real incomes,a higher cost of living, greater debt...
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Debt Collection & Settlement Mortgage Lending Overdraft Fees Student Loans

State of Lending: Student Loans Chapter

State of Lending: Student Loans Chapter

In the U.S. today, total student loan debt exceeds $1 trillion and nearly one in five households has a student loan. This chapter discusses factors leading to the growth in student loan debt and highlights important differences between federal and more costly private student loans. The chapter also shows the spike in student loan defaults and highlights the role of...
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Student Loans
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