An extension of the administrative forbearance pausing payment collection and interest accrual on all federal student loans until September 2021. The CARES Act suspended all payments, interest and collection on federal student loans until September 30, 2020. The HEROES Act would extend this benefit until September 2021, giving borrowers an additional 12 months before payments are due again. The Act would also extend relief to include commercially-held FFEL and Perkins loans, previously excluded under the CARES Act. Including FFEL and Perkins loans would benefit approximately 20% of student loan borrowers. An extension of benefits to private student loan holders. Many CARES Act benefits would be extended to private loan holders until September 2021. The HEROES Act provides forbearance on private student loans until September 2021, and also forbids the capitalization of interest on private loans; pauses adverse credit reporting; and suspends involuntary collections. $10,000 in federal and private student loan forgiveness for borrowers who are “economically distressed.” The original proposal included a much broader $10,000 in forgiveness for all student loan borrowers. The revised language limits the $10K in loan forgiveness only to those borrowers who were “economically distressed” on March 12, the day before President Trump declared a coronavirus national emergency. Borrowers are considered "economically distressed" if their monthly payment under an income-based repayment plan was $0. Borrowers who are delinquent or in default— or in financial hardship deferment or forbearance— also qualify. The language was revised because the provision was considered too costly. An important revision to Public Service Loan Forgiveness (PSLF) qualifications. Currently, only direct federal-loans are eligible for PSLF, forcing borrowers with commercially-held FFEL or Perkins loans to consolidate into direct federal-loans. Consolidation, however, would erase any progress toward the 10 year repayment period, forcing borrowers to start over. The HEROES Act would make payments made prior to consolidation count toward the PSLF requirements. This has huge, beneficial implications for many forgiveness-seeking borrowers. Not related to student loan debt but important for struggling borrowers: a second round of $1,200 stimulus checks, or up to $6,000 per household. The HEROES Act authorizes cash payments of: $1,200 per individual earning up to $75,000 per year; up to $6,000 for families with dependents; and unemployment benefits of an additional $600 per week until January 2021. These payments could help borrowers get ahead on their debt. The HEROES Act now moves onto the Senate where some Senate Republicans are calling it “dead on arrival.” "What you've seen in the House Nancy is not something designed to deal with reality, but designed to deal with aspirations. This is not a time for aspirational legislation, this is a time for practical response to the coronavirus pandemic," said Senate Majority Leader Mitch McConnell We’ll continue monitoring progress on the Hill and share breaking updates as the next steps on additional stimulus relief is left to the Senate.

In the short term, the government would end any offsets of tax refunds, Social Security and other federal and state payments, and immediately cease seizure of wages to collect on defaulted federal student loans. It would also ensure that any stimulus checks that are sent to families to address the economic fallout of the coronavirus pandemic are not seized to repay defaulted student loans. The federal government would establish a program to make principal and interest payments on outstanding federal student loans throughout the duration of this crisis. When the program ended, if a borrower had not received a minimum of $10,000 in student debt cancellation, the difference would be canceled. This proposal is a smart and effective way to free up cash for Americans in the short term. Many of the most economically distressed borrowers are in default on their student loans and have already experienced--or are in immediate danger of--seizure of their federal income tax refunds by the government. Ensuring that these borrowers receive their tax refunds (which often include the Earned Income Tax Credit and the Child Tax Credit) would put more cash in their pockets at a time when they need it the most. This would help borrowers shoulder the costs of food, 1 supplies, and medications if they, like many workers, face layoffs or smaller paychecks (due to reduced hours or slower business) because of the pandemic. And at a time when there are increasing reports of student loan servicers shuttering call centers or reducing capacity, student loan cancellation would ensure there is less need for borrowers to take time out of their days to chase down their servicers and try and secure changes to or help on their student loans. 2  The student debt cancellation outlined in this proposal would also boost the economy for everyone in the medium-to-long term. It would boost GDP by up to $108 billion a year, and add up to 1.5 million jobs per year. Research by the National Bureau of Economic Research shows 3 that federal student debt cancellation increases borrowers’ incomes by about $3,000 over a three year period. 4  Even before the COVID-19 pandemic, the United States was facing a student debt crisis: outstanding student debt surpasses $1.6 trillion, over 9 million borrowers are in default on their student loans, and another borrower goes into default every 26 seconds. The burden of default 5 falls particularly hard on communities of color. Black students must borrow at higher rates and 6 in larger amounts due to racial inequities in incomes and wealth. Three million Americans over 7 the age of 60 still have student debt. More than 40,000 people over 65 are having their Social Security payments, tax refunds, or other government payments garnished because they have fallen behind on their student loan payments. According to a Consumer Financial Protection 8 Bureau (“CFPB”) Snapshot report, older borrowers are more likely than those without outstanding student loans to report that they have skipped necessary health care needs such as prescription medicines, doctors’ visits, and dental care because they could not afford it. Now 9 more than ever, we must ensure that all Americans can prioritize their health and that of their neighbors. Student loan relief is an essential factor in making that possible, and this proposal will make it a reality. We enthusiastically support this crucially important proposal.  Sincerely,  African American Ministers In Action Allied Progress American Federation of Teachers Americans for Financial Reform Center for American Progress Center for Responsible Lending Consumer Action Demos Generation Progress National Association of Consumer Advocates National Association of Consumer Bankruptcy Attorneys (NACBA) National Consumer Law Center (on behalf of its low-income clients) People For the American Way PHENOM (Public Higher Education Network of Massachusetts) Public Citizen Student Action Student Borrower Protection Center Student Debt Crisis Tennessee Citizen Action Young Invincibles 1 Voices of Despair: Student Borrowers Trapped in Poverty When Government Seizes Their Earned Income Tax Credit, National Consumer Law Center (March 2018), https://www.nclc.org/images/pdf/student_loans/voices-of-despair.pdf.  2 The Student Borrower Protection Center (@theSBPC), Twitter (Mar 18, 2020, 10:55 AM), https://twitter.com/theSBPC/status/1240290783544180742 (“As more student loan companies shutter their doors to protect their workforce from the ongoing pandemic, it is critical we provide the necessary relief to borrowers who now have nowhere to turn. The Secretary must cancel payments for all borrowers during this crisis.”); and FedLoans (@myFedLoan) Twitter (Mar 16, 2020, 9:51 PM), https://twitter.com/MyFedLoan/status/1239731039758622720 (“Hi there, deleted to provide better clarity. We are still accepting phone calls during standard hours of operation. Only some of our escalated call center locations will close in compliance w/ Pennsylvania Gov. Wolf's directive”). 3 Jillian Berman, Canceling $1.4 trillion in student debt could have major benefits for the economy, MarketWatch (February 2017), https://www.marketwatch.com/story/canceling-14-trillion-in-student-debt-could-have-major-benefits-for-the -economy-2018-02-07. 4 Marco Di Maggio, Ankit Kalda & Vincent Yao, Second Chance: Life without Student Debt (March 2020), https://www.nber.org/papers/w25810. 5 New Data Show Student Loan Defaults Spiked in 2019 – A Warning to Industry and DeVos Amid Economic Fallout, The Student Borrower Protection Center (March 13, 2020), https://protectborrowers.org/every-26-seconds/. 6 Quicksand: Borrowers of Color & the Student Debt Crisis. Center for Responsible Lending, UnidosUS, the Leadership Conference Education Fund, the National Association for the Advancement of Colored People (NAACP), and the National Urban League (July 2019), https://www.responsiblelending.org/research-publication/quicksand-borrowers-color-student-debt-crisis. 7 Huelsman, Mark. The Debt Divide: The Racial and Class Bias Behind the “New Normal” of Student Borrowing. Demos (May 19, 2015), https://www.demos.org/research/debt-divide-racial-and-class-bias-behind-new-normal-student-borrowing. 8 Minda Zetlin, 3 Million Americans Over 60 Are Stuck With Student Loans. They Owe a Total of $86 Million, Inc (May 22, 2019), https://www.inc.com/minda-zetlin/senior-citizens-student-loans-student-debt-social-security-garnished-reti rement.html.  9 Snapshot of older consumers and student loan debt, Consumer Financial Protection Bureau: Office for Students and Young Consumers, (January 2017), https://files.consumerfinance.gov/f/documents/201701_cfpb_OA-Student-Loan-Snapshot.pdf.

American Association of Collegiate Registrars and Admissions Officers American Federation of Teachers Americans for Financial Reform Associated Students of the University of California Association of Big Ten Students Association of Young Americans (AYA) Cal State Student Association California Competes California EDGE Coalition Center for Responsible Lending Consumer Action Consumer Reports Deeds Action Fund Democrats for Education Reform Education Reform Now Advocacy Excelencia in Education Faculty Association of California Community Colleges Foothill-De Anza Community College District Generation Progress Georgetown University Center on Education and the Workforce Higher Education Loan Coalition (HELC) Higher Learning Advocates Hildreth Institute Hispanic Association of Colleges and Universities Jobs for the Future (JFF) John Burton Advocates for Youth Jolt Initiative KIPP LeadMN – College Students Connecting for Change Los Angeles Area Chamber of Commerce Maryland Consumer Rights Coalition NAACP NACAC National Association for Equal Opportunity in Higher Education (NAFEO) National Association of State Student Grant & Aid Programs (NASSGAP) National Association of Student Financial Aid Administrators (NASFAA) National Campus Leadership Council National Consumer Law Center (on behalf of its low-income clients) National Education Association National Skills Coalition National Urban League New York Public Interest Research Group (NYPIRG) PHENOM (Public Higher Education Network of Massachusetts) Raise the Barr Scholarship America Shasta College Silicon Valley Leadership Group Student Debt Crisis Student Parent HELP Center Student Veterans of America The Campaign for College Opportunity The Education Trust The Institute for College Access & Success (TICAS) U.S. Public Interest Research Group (USPIRG) uAspire UNCF (United Negro College Fund, Inc.) Univ. of Hawai’i – Bridge to Hope University of California Student Association Veterans Education Success Women Employed Woodstock Institute Yes We Must Coalition Young Invincibles cc: The Honorable Nita Lowey, Chairwoman, House Appropriations Committee; The Honorable Kay Granger, Ranking Member, House Appropriations Committee

“The mounting lawsuits against the largest student loan companies show the heavy price paid by teachers and other public service workers because of rampant industry abuses. AB 376, the California Student Borrower Bill of Rights, would create important new protections for California teachers, nurses and other public service workers. It would also impose new penalties  on companies engaged in predatory practices like those at the heart of today's action by New York. It is past time for California to act.”Natalia Abrams, Executive Director, Executive Director of Student Debt Crisis: "We applaud New York Attorney General Tish James for suing abusive student loan servicer PHEAA and honoring the promise made to public servants over a decade ago. PHEAA has stacked the federal government with lobbyists and insiders allowing the company to deny thousands of student loan forgiveness applications with little oversight. State and local actions are necessary. William, a veteran, former member of the Peace Corps, and health services professional from Concord, California, told us that loan servicing errors prevented him from having $62,000 in student debt forgiven under the Public Service Loan Forgiveness program. William says that after three decades of public service, the harm caused by his student loan servicer means he will struggle to make payments and support his three children. That is why Student Debt Crisis is a cosponsor of AB 376, the California Student Borrower Bill of Rights, and why we support efforts to strengthen consumer protections in states nationwide."Kristin McGuire, Western Regional Director for Young Invincibles: “At this moment, 3.8 million Californians are buried under $141 million in student loan debt that will follow them for years to come. For too long, predatory lenders like PHEAA have taken advantage of California’s students through deceptive practices and confusing repayment plans. Now more than ever, our leaders in Sacramento must stand up to defend students and hold these lenders accountable. On behalf of borrowers across the Golden State, we urge state legislators to accept this responsibility to our state’s young people and pass the California Student Borrower Bill of Rights immediately.”Suzanne Martindale, Senior Policy Counsel & Western States Legislative Manager, Consumer Reports: "At a time when Washington is actively undermining efforts to tackle the education debt crisis in America, states must step up to protect their residents from abusive loan servicing practices like these.  We applaud New York’s efforts - and we urge California to take the next step by passing AB 376, the first bill in the nation to create enforceable industry standards that empower student borrowers.”Arnold Sowell Jr., Executive Director, NextGen California: “The student debt crisis is a clear and present danger to millions of Americans across our nation struggling to make their loan payments or who have been the victims of predatory practices. Student loan companies must be held accountable for the harm their fraudulent actions are causing everyday Americans - student loan borrowers trying to build a more prosperous future for themselves. We support New York Attorney General James’ efforts to protect consumers. Here in California, we are fighting for a Student Borrowers Bill of Rights which would guarantee critical consumer protections to all student loan borrowers. The news out of New York today further reinforces just how necessary it is to pass this extremely important legislative measure and NextGen California will continue the fight to do so.”The California Student Borrower Bill of Rights The Student Borrower Bill of Rights was authored by Assembly Member Mark Stone (D-Monterey Bay), and is co-sponsored by the Student Borrower Protection Center (protectborrowers.org), Consumer Reports Advocacy (advocacy.consumerreports.org), NextGen California (ca.nextgenamerica.org), Student Debt Crisis (borrowersbills.org), and Young Invincibles (younginvincibles.org). Earlier this year, the legislation’s co-sponsors joined with dozens of other organizations representing students, workers, consumers, older Americans, communities of color, and veterans to launch the Campaign for California Borrowers Rights (www.californiaborrowers.org) to advocate in support of this legislation and to fight to end the student debt crisis in California. ### The Student Borrower Protection Center is a nonprofit organization focused on alleviating the burden of student debt for millions of Americans. SBPC engages in advocacy, policymaking, and litigation strategy to rein in industry abuses, protect borrowers’ rights, and advance economic opportunity for the next generation of students. Led by the team of former federal regulators that directed oversight of the student loan market at the Consumer Financial Protection Bureau, SBPC exposes harmful and illegal practices in the student loan industry, drives impact litigation, advocates on behalf of student loan borrowers in Washington and in state capitals, and promotes progressive policy change. SBPC accomplishes these goals by partnering with leaders at all levels of government and throughout the nonprofit sector. Young Invincibles (YI) is a national nonprofit, non-partisan advocacy and research organization working with and for young adults to address the generation’s most pressing economic challenges by amplifying the voices of young adults in the political process. With a focus on higher education, health care, workforce development, and civic engagement, our work is guided by the belief that every young person - regardless of race, gender, socioeconomic status, or any other factor - deserves a fair chance to achieve their goals and reach financial stability. Student Debt Crisis is a non-profit (501c4) organization dedicated to fundamentally reforming student debt and higher education loan policies. Student Debt Crisis (SDC) takes a personal approach to member needs—working directly with borrowers to understand their challenges and fears, repayment obstacles and frustrations. SDC tackles the challenges of loan refinancing and consumer protection policies with media and legislators, as well as educating borrowers and higher education experts with lectures, webinars and special events. Consumer Reports is an expert, independent, non-profit organization whose mission is to work for a fair, just, and safe marketplace for all consumers and to empower consumers to protect themselves. Consumer Reports works for pro-consumer policies in the areas of financial services, as well as telecommunications, health care, food and product safety, energy, telecommunications, privacy and data security, and competition and consumer choice, among other issues, in Washington, DC, in the states, and in the marketplace. Consumer Reports is the world’s largest independent product-testing organization, using its dozens of labs, auto test center, and survey research department to rate thousands of products and services annually. Founded in 1936, Consumer Reports has over 6 million subscribers to its magazine, website, and other publications. NextGen California is a non-partisan, non-profit organization dedicated to working on legislative, budgetary, regulatory, and programmatic issues related to preventing climate change, addressing income inequality, promoting economic prosperity, and protecting the fundamental rights of all Americans. Originally founded in 2014 to focus on climate and environmental policy, in recent years NextGen California has broadened its scope to advance solutions to economic, environmental, and social justice.  Specifically, our policy portfolio now encompasses topics such as: electric vehicles and renewable energy, criminal justice reform and immigration, healthcare and food insecurity, mental health and voting rights, student debt and the census, and affordable housing and drinking water.

Trump Administration’s Selection of Industry Insider for Nation’s Student Loan Watchdog Heightens Urgency to Pass AB 376 to Protect California Student Loan Borrowers Recent Revolving-Door Hire is Further Proof Washington is Failing to Stand up for Borrowers The Trump Administration’s appointment on Friday of a student loan industry executive to serve as the nation’s top student loan watchdog is outrageous and unacceptable. California’s 3.7 million student loan borrowers, of whom over half a million are behind on their loans, are facing a student debt crisis owing $141 billion collectively. Yet, in Washington, the Trump Administration has taken the clearest step yet to put the interests of the student loan industry over the needs of borrowers. California must quickly pass AB 376, the California Student Borrower Bill of Rights, to create a Student Borrower Advocate for Californians and give individual borrowers new tools to hold big student loan companies accountable for their abuses. Leaders and advocates for protecting student borrowers in California and across the nation are condemning the Bureau’s appointment and urging state’s to take action. California is positioned to pave the way in the fight to protect borrowers: Natalia Abrams, Executive Director, Executive Director of Student Debt Crisis: "For years, we heard alarming student loan complaints from borrowers across the country. We trusted the Consumer Financial Protection Bureau to hold these companies accountable. Now, with a former student loan company executive leading the bureau, the federal watchdog cannot be trusted to protect borrowers. California lawmakers must step in to defend people from unacceptable industry abuse by passing the Student Borrower Bill of Rights, AB-376.”Seth Frotman, Student Borrower Protection Center Executive Director and former CFPB student loan ombudsman: It is outrageous, though not surprising, that an executive from a student loan company that has cheated students and taxpayers is now in charge of protecting borrowers’ rights. This is an insult to California’s 3.7 million borrowers who deserve an advocate in their corner. California leaders must act to hold industry accountable and to stand up for borrowers. Arnold Sowell, Executive Director NextGen California: Student loans have ensnared millions of Americans in debt and predatory student loan servicing practices are to blame. By empowering the head of a student loan company to oversee student loan practices this administration has chosen once again to prioritize corporations over people. If ever there was an opportunity for California leadership to stand up and protect borrowers, the time is now. California must pass the Student Borrower Bill of Rights - AB 376. Kristin McGuire, Western Regional Director for Young Invincibles: “With the appointment of Robert G. Cameron, it’s as clear as ever that the Trump Administration cares more about protecting predatory schools and lenders than they do defending the nation’s borrowers. California alone faces more than $141 billion in debt, and too often borrowers are subject to misleading information and difficult-to-navigate repayment plans by lenders who don’t have their best interests at heart. Our leaders in Sacramento must do what Washington won’t: Ensure that borrowers have an advocate looking out for them by passing the California Student Borrower Bill of Rights.”Suzanne Martindale, Senior Policy Counsel & Western States Legislative Manager, Consumer Reports: "It is troubling that the CFPB shows little to no interest in protecting student borrowers, especially when so many are struggling unnecessarily because of loan servicing failures.  California must lead the nation forward to fix the student debt crisis by promptly passing AB 376." The California Student Borrower Bill of Rights The Student Borrower Bill of Rights was authored by Assemblymember Mark Stone (Santa Cruz), and is co-sponsored by the Student Borrower Protection Center (protectborrowers.org), Consumer Reports Advocacy (advocacy.consumerreports.org), NextGen California (ca.nextgenamerica.org), Student Debt Crisis (borrowersbills.org), and Young Invincibles (younginvincibles.org). Earlier this year, the legislation’s co-sponsors joined with dozens of other organizations representing students, workers, consumers, older Americans, communities of color, and veterans to launch the Campaign for California Borrowers Rights (www.californiaborrowers.org) to advocate in support of this legislation and to fight to end the student debt crisis in California. ### Washington Fails to Stand Up for Student Loan Borrowers; California Must Act to Protect its Citizens Under current leadership, the federal agency charged with protecting consumers—the Consumer Financial Protection Bureau—has continually failed to stand up for student loan borrowers. The Student Borrower Protection Center and a coalition of consumer advocates recently highlighted those shortcomings which include: Filling Nation’s Top Student Loan Watchdog Position with Industry Insider Last March, Director Kraninger testified before the House Financial Services Committee that she was working to “quickly” fill the Bureau’s student loan ombudsman position. After the post was vacant for nearly a year, Robert G. Cameron, a former top official at the Pennsylvania Higher Education Assistance Agency (PHEAA), was appointed as the agency's student loan ombudsman.  Failing to Deliver Annual Report on Borrower Complaints  The Bureau is required by law to issue a comprehensive annual report describing complaints from student loan borrowers and provide policy recommendations to Congress. In the past, this report helped uncover illegal practices and highlight challenges facing all types of borrowers, including public servants, servicemembers, older Americans, and even families saddled with student debt after the death of a loved one. Since opening its doors, CFPB has received more than 50,000 complaints from student loan borrowers, including nearly 7,000 additional complaints while the ombudsman role has been vacant. The report is now over 300 days overdue to Congress. Refusing to Stand Up to Betsy DeVos’s Obstruction; Leaving a Trillion Dollar Market Unchecked  In 2017, U.S. Secretary of Education Betsy DeVos instructed the largest student loan companies to stop sharing information with federal and state law enforcement officials, which obstructed their ability to conduct critical oversight. This move was denounced by lawmakers and dismissed by judges. State law enforcement agencies have since stood up to Betsy DeVos to demand the information needed to do their jobs, but the Bureau remains unwilling. This lack of oversight by the Bureau leaves a trillion dollar market unchecked and bears an alarming similarity to the lax oversight of the mortgage market leading up to the financial crisis. Turning Its Back on Teachers, Nurses, and other Public Servants’ Right to Loan Forgiveness The Bureau is failing to police widespread breakdowns and illegal servicing practices that have led to public servants being denied their right to Public Service Loan Forgiveness. Teachers, nurses, firefighters, police officers, and others applying for forgiveness have been denied at a rate of 99 percent. As Director Kraninger made clear to Congress, the Bureau has abandoned this work despite serious concerns raised by the nation’s largest labor unions, which represent more than 21 million workers. Failing to Enforce Laws to Protect Student Loan Borrowers of Color from Discrimination   The Bureau announced in 2017 that it would prioritize ensuring that the largest student loan companies are following the nation’s fair lending laws. In response to questions from Congress, Director Kraninger admitted this work was no longer occurring. A wide range of civil rights organizations have called on the Bureau to prioritize this critical oversight, yet Director Kraninger continues to appease Betsy DeVos rather than protect student loan borrowers from discrimination as they navigate the student loan process.  Weakening the Office for Students and Young Consumers Despite troubling delinquency rates across a range of financial products for millennials from auto loans, to credit cards, to student loans, public reports have revealed that the Bureau’s Office for Students and Young Consumers has been significantly weakened. In addition to the failure to appoint an ombudsman, news reports show that staffing has been reduced, resources decreased, and the office has been downgraded within the agency to a role with less authority, leaving students more vulnerable to predatory practices.    Failing to Establish Legally Mandated Partnership with Department of Education The Dodd-Frank Act requires the Bureau to have an agreement with the Department of Education in order to share critical information about student loans, including consumer complaint data. Last year, Department of Education official Kathleen Smith, now a student loan industry lobbyist, rescinded this agreement. Director Kraninger committed to Congress to reestablish the partnership, as required by law, but today the Bureau has still failed to enter into an agreement with the Department of Education.  ### ### The Student Borrower Protection Center is a nonprofit organization solely focused on alleviating the burden of student debt for millions of Americans. SBPC engages in advocacy, policymaking, and litigation strategy to rein in industry abuses, protect borrowers’ rights, and advance economic opportunity for the next generation of students. Led by the team of former federal regulators that directed oversight of the student loan market at the Consumer Financial Protection Bureau, SBPC exposes harmful and illegal practices in the student loan industry, drives impact litigation, advocates on behalf of student loan borrowers in Washington and in state capitals, and promotes progressive policy change. SBPC accomplishes these goals by partnering with leaders at all levels of government and throughout the nonprofit sector. Founded in 2009, Young Invincibles (YI) is a national nonprofit, non-partisan advocacy and research organization working with and for young adults to address the generation’s most pressing economic challenges by amplifying the voices of young adults in the political process. With a focus on higher education, health care, workforce development, and civic engagement, our work is guided by the belief that every young person - regardless of race, gender, socioeconomic status, or any other factor - deserves a fair chance to achieve their goals and reach financial stability. Student Debt Crisis is a non-profit (501c4) organization dedicated to fundamentally reforming student debt and higher education loan policies. Student Debt Crisis (SDC) takes a personal approach to member needs—working directly with borrowers to understand their challenges and fears, repayment obstacles and frustrations. SDC tackles the challenges of loan refinancing and consumer protection policies with media and legislators, as well as educating borrowers and higher education experts with lectures, webinars and special events. Consumer Reports is an expert, independent, non-profit organization whose mission is to work for a fair, just, and safe marketplace for all consumers and to empower consumers to protect themselves. Consumer Reports works for pro-consumer policies in the areas of financial services, as well as telecommunications, health care, food and product safety, energy, telecommunications, privacy and data security, and competition and consumer choice, among other issues, in Washington, DC, in the states, and in the marketplace. Consumer Reports is the world’s largest independent product-testing organization, using its dozens of labs, auto test center, and survey research department to rate thousands of products and services annually. Founded in 1936, Consumer Reports has over 6 million subscribers to its magazine, website, and other publications.

Student Debt Crisis members reported they are optimistic that “every candidate has a plan for addressing student loan debt” and say “student loan forgiveness would change our lives immensely” Our first straw poll of the 2020 presidential election received over 5,603 responses from students, student loan borrowers, parents, and allies. Responses were collected in less than 48 hours during the two-night Democratic presidential debates. The 2020 election is also the first time ever student loan debt is a top issue in the nationwide discussion. Sen. Elizabeth Warren leads the first straw poll with the support from 41% of members nationwide, followed by Bernie Sanders with 38%. Warren is also in first place among Student Debt Crisis supporters statewide in the early voting states of New Hampshire (54%), Nevada (37%), and South Carolina (55%). She is also a close second in the state of California (35%). “Student Debt Crisis supporters are over 1 million strong. They represent a large portion of Democratic voters. We are not surprised to find champions of consumer rights, like Elizabeth Warren, at the top of our straw poll,” said Natalia Abrams, executive director for Student Debt Crisis. “Our members continue to support a wide range of solutions to the student debt crisis. We will continue to poll our supporters and echo their voices over the next 16 months." The Democratic presidential candidates have introduced a wide variety of plans that address rising college costs. We agree with the core principles laid out in many of the candidates’ proposals: stopping the $1.5 trillion student debt crisis and making education affordable and accessible to all. Student Debt Crisis believes that much can be done to address this urgent crisis. Early straw poll results suggest members back candidates with bolder visions that include some forms of student forgiveness and debt-free college. The straw poll showed a large drop off of support for Joe Biden, whose 8.2% placed him in a distant third. Sen. Kamala Harris (5.3%) and Mayor Pete Buttigieg (3.6%) also ranked in the top five candidates among Student Debt Crisis members nationwide. Secretary Julian Castro (1.3%), Senator Cory Booker (1.1%), and Congressman Beto O’Rourke (1%) followed. “Student loan debt is a burden that does not discriminate by party, gender, race, or age,” said Student Debt Crisis program director Cody Hounanian. “We applaud democratic candidates for understanding the sense of urgency facing 45 million Americans harmed by student debt. The 2020 presidential candidates have proposed the boldest solutions we have seen yet." Student Debt Crisis testimonials from members across the country: "I have $35,000 in student debt and my parents took loans out for my education as well, which is postponing their retirement. Student loan forgiveness would change our lives immensely, for the better."- Mary in California "We are grandparents who backed up our granddaughter's school loans. She just told us that even though she has been paying for the last 8 years, her loan amount has not gone down!”- Frances in Ohio "I have a degree in education that left me in $10,000 in student loan debt. I live daily knowing I chose the right profession but perhaps didn’t make the right choice for my financial future. It’s anxiety people should not have to feel."- Angelica in California "I am disabled and I live below the poverty level. Despite my children having great grades, they only qualified for enough assistance to pay a small portion of tuition. My son went on to law school and owes over $200,000 in student loans.”-Mary Lynn in New Jersey Student Debt Crisis is not endorsing a candidate at this time. For more information about the results of the Student Debt Crisis Straw Poll, or to speak with someone from Student Debt Crisis about the 2020 year Presidential election, please contact natalia@borrowersbills.org or cody@borrowersbills.org.