We have important news that will change many of your lives. The Department of Education announced new rules that make it easier to qualify for Public Service Loan Forgiveness (PSLF) and improve the application process. Our immediate goal is to help as many people as possible receive loan forgiveness by informing the public and helping them apply. RSVP for the Town Hall: Public Service Loan Forgiveness Updates via Zoom or telephone on Thursday at 2:00 pm ET. Experts will help answer your questions. We know many of you are thrilled and others may be disappointed. Our mission is to end the student debt crisis for everyone, but we also support canceling student debt wherever and whenever we can. This is a win, this is progress for our movement, and this is a step closer to student debt cancellation for all of us. For now, we want to see public service workers have their loans canceled. If you are a teacher, social worker, veteran, or work for a government agency or nonprofit, we want to help. If you were told you did not qualify or your application was denied, new rules might change that. Can’t make it to the Town Hall? Let us know you want to learn more and our team will send you an official fact sheet and keep you informed of upcoming events. Yes, I want to learn more We need to hear from our supporters to connect them with vital information. RSVP for the Town Hall here or sign up to receive important updates here.

This fact sheet is published by the Department of Education here. The Public Service Loan Forgiveness (PSLF) Program is an important—but largely unmet—promise to provide debt relief to support the teachers, nurses, firefighters, and others serving their communities through hard work that is essential to our country’s success. By cancelling loans after 10 years of public service, PSLF removes the burden of student debt on public servants, makes it possible for many borrowers to stay in their jobs, and entices others to work in high-need fields. Today, the Department of Education is announcing a set of actions that, over the coming months, will restore the promise of PSLF. We will offer a time-limited waiver so that student borrowers can count payments from all federal loan programs or repayment plans toward forgiveness. This includes loan types and payment plans that were not previously eligible. We will pursue opportunities to automate PSLF eligibility, give borrowers a way to get errors corrected, and make it easier for members of the military to get credit toward forgiveness while they serve. We will pair these changes with an expanded communications campaign to make sure affected borrowers learn about these opportunities and encourage them to apply. These changes are important steps toward a better and stronger PSLF program, one that will move away from the current situation in which too few borrowers receive forgiveness, and too many do not receive credit for years of payments they made because of complicated eligibility rules, servicing errors or other technicalities. The Department is also working to identify further improvements to ensure public servants get the relief they deserve, including partnerships with employers and revising regulations. These actions are informed by the more than 48,000 comments the Department received on a request for information on improving PSLF issued over the summer. The Department estimates that the limited waiver alone will help over 550,000 borrowers who had previously consolidated their loans see their progress toward PSLF grow automatically, with the average borrower receiving 23 additional payments. This includes approximately 22,000 borrowers who will be immediately eligible to have their federal student loans discharged without further action on their part, totaling $1.74 billion in forgiveness. Another 27,000 borrowers could potentially qualify for $2.82 billion in forgiveness if they certify additional periods of employment. For reference, just over 16,000 borrowers have ever received forgiveness under PSLF prior to this action. We anticipate that many more will also receive additional credit as we implement other changes over time, such as counting previously ineligible payments that were not affected by a loan consolidation. The COVID-19 pandemic has placed a tremendous strain on public servants, making it even more critical that borrowers are able to access PSLF. Many public servants have been on the front lines of the pandemic, making personal sacrifices to keep the rest of us safe. Nonprofits are still recovering jobs lost in the last year, and some public service workers have reported they are considering leaving public service altogether. Frontline sectors like teaching and healthcare are already seeing burnout and employee shortages. Alleviating some of the financial strain associated with student debt can help borrowers in these sectors as they continue to navigate the fallout of this pandemic. Today the Department is announcing it will: Implement a Limited PSLF Waiver to count all prior payments made by student borrowers toward PSLF, regardless of loan program. The Department will be offering a temporary opportunity to give borrowers credit for prior payments they made that would not otherwise count toward PSLF. Any prior payments made while working for a qualifying employer will count as a qualifying payment, regardless of loan type or repayment plan. This Limited PSLF Waiver will apply to borrowers with Direct Loans, those who have already consolidated into the Direct Loan Program, and those with other types of federal student loans who submit a consolidation application into the Direct Loan Program while the waiver is in effect. The waiver applies to loans taken out by students. The waiver will run through October 31, 2022. That means borrowers who need to consolidate will have to submit a consolidation application by that date. Similarly, borrowers will need to submit a PSLF form—the single application used for a review of employment certification, payment counts, and processing of forgiveness—on or before October 31, 2022 to have previously ineligible payments counted. The Department recommends borrowers take this action through the online PSLF Help Tool, which is available at StudentAid.gov/PSLF. Counting prior payments on additional types of loans will be particularly important for borrowers who have or had loans from the Federal Family Education Loan (FFEL) Program. Around 60 percent of borrowers who have certified employment for PSLF fall into this category. Many FFEL borrowers report receiving inaccurate information from their servicers about how to make progress toward PSLF, and a recent report by the Consumer Financial Protection Bureau (CFPB) revealed that some FFEL servicers have systematically misled borrowers on accessing PSLF. Counting payments made on FFEL loans toward PSLF will correct these issues and help address the effects of the COVID-19 pandemic on student loan borrowers. Payments prior to a Direct Loan consolidation are also covered by this waiver, so it will benefit those who consolidated their Direct Loans and lost progress toward PSLF as a result. The Department will start automatically adjusting payment counts for borrowers who have already consolidated their loans into the Direct Loan Program and certified some employment for PSLF, and those borrowers can expect to see these adjustments in their accounts in the coming months. Borrowers who have loans from the FFEL or Federal Perkins Loan programs will also have this waiver applied automatically, but only after they have consolidated and submitted a PSLF form, and all paperwork has been processed. Simplify what it means for a payment to qualify for PSLF. The Limited PSLF Waiver also addresses another concern we have heard from borrowers—that too many payments do not count toward PSLF due to technical requirements around borrowers’ choice of payment plan, timing, and amount of the payment. In some instances, borrowers missed out on credit toward PSLF because their payments were off by a penny or two or late by only a few days. The Department will automatically adjust PSLF payment counts for payments made on or before October 31, 2021 for borrowers affected by this issue who have already certified some employment for PSLF. Borrowers who have not yet applied for PSLF forgiveness or certified employment but do so by October 31, 2022 will benefit from these temporary rules as well. Eliminate barriers for military service members to receive PSLF. The Department will allow months spent on active duty to count toward PSLF, even if the service member’s loans were on a deferment or forbearance rather than in active repayment. This change addresses one major challenge service members face in accessing PSLF. Service members on active duty can qualify for student loan deferments and forbearances that help them through periods in which service inhibits their ability to make payments. But too often, members of the military find out that those same deferments or forbearances granted while they served our country did not count toward PSLF. This change ensures that members of the military will not need to focus on their student loans while serving our country. Federal Student Aid will develop and implement a process to address periods of student loan deferments and forbearance for active-duty service members and will update affected borrowers to let them know what they need to do to take advantage of this change. Automatically help service members and other federal employees access PSLF. Military service members and other federal employees devote themselves to serving the United States, and we should make it as easy as possible for them to get PSLF. Next year, the Department will begin automatically giving federal employees credit for PSLF by matching Department of Education data with information held by other federal agencies about service members and the federal workforce. To date, approximately 110,000 federal employees and 17,000 service members have certified some employment toward PSLF. These matches will help the Department identify others who may also be eligible but cannot benefit automatically, like those with FFEL loans. Review Denied PSLF Applications and Identify and Correct Errors in PSLF Processing. Errors in the review and processing of PSLF applications has been a particularly worrisome barrier to PSLF access. Many borrowers report discrepancies in their PSLF payment counts, and PHEAA, the student loan servicer responsible for processing PSLF payments, has entered into a settlement with the Massachusetts Attorney General to review PSLF applications for potential errors. FSA will be transitioning PSLF accounts away from PHEAA to a new servicer. Under Secretary Cardona’s leadership, the Department is committed to holding all student loan servicers to high standards of quality and accountability, and that includes PSLF servicing. Today, the Department is announcing that it will complete a review of all denied PSLF applications and PSLF processing practices to identify and address errors. This will include an internal data review on denied PSLF applications and an independent external review of PSLF processing. Borrowers who believe there have been errors in processing their PSLF application after the Department first conducts the internal and external reviews described above will be able to use an interim reconsideration process to receive a second individual review next year. A permanent reconsideration process is under consideration in the negotiated rulemaking process. To further strengthen oversight of PSLF, the Department will improve its reporting on PSLF, including information on timelines for processing applications and results of servicer audits. Improve Outreach and Communication with PSLF-Eligible Borrowers. The Department wants borrowers to know about PSLF and help those who may be close to forgiveness take the steps they need to get relief. Starting this fall, we will begin an extensive outreach campaign to make sure borrowers are better informed about this key benefit. This will include emailing borrowers who have hit 120 PSLF-eligible payments during the pause but need to verify their employment to receive forgiveness. ED will also notify borrowers about any additional payments we are able to automatically count and the option for reconsideration of denied applications, as applicable. We will also work to ensure that all potentially eligible borrowers are aware of the improvements to PSLF and tools available to them. Simplify the PSLF Application Process. We can and should make it easier for borrowers to apply for PSLF. In the coming year, FSA will make several improvements that will create a smoother application process. These include working with local governments, state education agencies, school districts, labor unions, and others to improve FSA’s database of qualifying employers and creating an option to digitally sign PSLF applications. ED will also explore other improvements, like allowing employers to sign employment certification forms on behalf of their employees and automating PSLF certification for state, local, and tribal government employees. Make Long-Term Improvements to PSLF through Rulemaking. In addition to the executive actions outlined here, ED plans to continue transforming PSLF through the negotiated rulemaking process. This week, ED began the first session of negotiated rulemaking, which includes PSLF on the agenda. The Department’s regulatory proposal includes changes that would make it easier for borrowers to make progress toward forgiveness, including simplifying qualifying payment rules and allowing certain types of deferments and forbearances to count toward PSLF. What Borrowers Need to Know. ED will roll out these improvements in groups over the coming months. For more information, please visit StudentAid.gov/PSLFWaiver. Borrowers should also ensure we have accurate contact information on file by registering for an FSA ID at StudentAid.gov/create-account or updating their StudentAid.gov contact information by logging in and visiting StudentAid.gov/settings. By creating an account, we can communicate with you directly in a personalized way about how this waiver and other matters might affect you. The Limited PSLF Waiver will be available to borrowers who have Direct Loans, Federal Family Education Loans, and Perkins Loans. The waiver applies to loans taken out by students. You have Direct Loans and you’ve already had some PSLF employment certified If you’ve already applied for PSLF and had at least some employment certified, the Department will award any additional payments we can without further action from you. If necessary, Federal Student Aid may contact you to ask you to certify additional months of employment. You should look out for an email from Federal Student Aid in the coming weeks to let you know how many additional payments we have preliminarily determined to be qualifying. You don’t need to do anything until you receive an updated payment count or other communication from us. If you know that you have qualifying employment that you have not yet certified with us, we recommend you certify that employment now by using the PSLF Help Tool at www.StudentAid.gov/pslf. You currently have Direct Loans and have not yet applied for PSLF You will need to submit a PSLF form so we can review your loans under the simplified rules and determine whether your current or past employers qualify for PSLF. You can submit this form through the PSLF Help Tool at StudentAid.gov/PSLF. Because we expect an influx of applicants due to this announcement, you may see some delays in having your application processed, but we will work as quickly as possible to assist you. You will need to submit your application by October 31, 2022. You have at least one federal student loan that is not a Direct Loan, such as a FFEL loan You will need to submit a consolidation application and a PSLF form by October 31, 2022 to ensure that payments made on loans that are not Direct Loans can be counted toward PSLF. Right now, we encourage you to consolidate before using the PSLF Help Tool to certify employment. If you want to check your employer’s eligibility for PSLF before you consolidate, you can do so by logging into the PSLF Help Tool, which is available at StudentAid.gov/PSLF. If you have a mix of FFEL and Direct Loans, please refer to the sections above to understand how your Direct Loans will be affected. We are working to update the PSLF Help Tool, but it will not be configured for borrowers with non-Direct Loans to submit a PSLF form until later this year. We will provide more information when this update is done. To find out more about loan consolidation visit StudentAid.gov/Manage-Loans/Consolidation. You previously tried to certify employment for PSLF but were denied If the Department previously said your employer was not eligible for PSLF then you need to submit a new form through the PSLF Help Tool to see if you can receive credit toward forgiveness. You can also see which employers the Department has already deemed eligible through the PSLF Help Tool. Please note that this waiver does not affect qualifying employer rules. Your employer still needs to be a governmental organization, a 501(c)(3) organization, or a not-for-profit organization that provides a designated public service to get PSLF under normal rules and the Limited PSLF Waiver. You don’t know what kind of federal loans you have It’s very common for borrowers to not know what kind of federal loans they have. You can see what loans you have by logging into your account on StudentAid.gov, going to the My Aid page (StudentAid.gov/aid-summary/), and scrolling down to the Loan Breakdown section. There, you’ll see a list of each loan you have borrowed, even if you have paid the loan off or consolidated it into a new loan. Direct Loans begin with the word “Direct.” Federal Family Education Loans start with “FFEL,” and Perkins Loans include the word “Perkins” in the name. You have further questions In the coming weeks, servicers will receive updated information from FSA to help you navigate these changes. If you encounter challenges working with your loan servicer, you should contact the FSA Ombudsman by visiting StudentAid.gov/feedback.

FOR IMMEDIATE RELEASE 10/06/2021 CONTACT: Sabrina Calazans 646-820-8037 sabrina@studentdebtcrisis.org Statement: SDCC Applauds Temporary Fix to Loan Forgiveness Program, Will Continue Fight for Broad Relief "We applaud the Department of Education for responding to the voices of student loan borrowers by working to fix the Public Service Loan Forgiveness (PSLF) program. For years borrowers were harmed by confusing rules and unfair technicalities that left them crushed by debt even after they completed a decade of service in their communities and for the country. This plan, although overdue, will create a pathway to financial freedom for thousands of nurses, teachers, veterans, and other public service workers who the law was intended to help"  said Natalia Abrams, president and founder of the Student Debt Crisis Center. "At the same time, our mission remains clear -- to end the student debt crisis for everyone. This announcement is not that, but this plan will transform the lives of many. We look forward to working with the Department of Education to ensure that every borrower who qualifies for loan forgiveness receives it. We will double our efforts to engage and educate the public, and we will continue to fight for the broad-based debt cancellation that Americans demand"

FOR IMMEDIATE RELEASE 09/28/2021 CONTACT: Sabrina Calazans 646-820-8037 sabrina@studentdebtcrisis.org Statement: Navient to stop servicing federal student loans, leaving a wake of confusion ahead of payments resuming "We spent years fighting against Navient for abusing student loan borrowers while profiting from illegal business practices. The company preys on veterans, people with disabilities, and many others living on financial thin ice. Navient should be fired, they are quitting instead," said executive director Cody Hounanian. "It should be good news that Navient will no longer service federal student loans. In reality, Navient is leaving student loan borrowers out to dry by walking away, in the middle of a pandemic, when borrowers need help most. The company’s last action is leaving a wake of confusion, uncertainty, and harm for borrowers and their families as we approach payments resuming again February 1."

September 22, 2021 The Honorable Miguel Cardona Secretary United States Department of Education 400 Maryland Avenue SW Washington, DC 20202 Secretary Cardona: We, the more than 200 undersigned union, student, consumer, higher education, public health, workforce, public interest, professional, military, and faith organizations representing millions of public service workers and student loan borrowers are writing to urge you to take administrative action to ensure that all public service workers who have completed a decade of service receive the debt relief they were promised. As part of this administrative action, the Department of Education must guarantee that any and all changes to the Public Service Loan Forgiveness (PSLF) program aren't just prospective but provide retroactive relief to all dedicated public service workers with student debt. This action should be immediate and need not wait for the Department of Education to write new rules. Since the Department of Education called for comments on the future of PSLF, nearly 45,000 individual student loan borrowers from all 50 states have shared their stories— demanding the Biden Administration restore the promise of this critical protection. These public comments describe how workers across the country have faced widespread, systemic barriers to PSLF while responding to an unprecedented public health emergency, navigating a deep economic recession, and struggling to emerge from an unequal economic recovery. Throughout the pandemic, public service workers have remained on the hook for debts they should not owe, taking a heavy psychological and financial toll month after month. Congress, in a bipartisan fashion, made a promise more than a decade ago that public service workers who choose to give back to their communities and our country wouldn't be locked in a lifetime of debt. This promise ensured aspiring nurses, educators, and millions of others were not precluded from pursuing these careers due to the dual financial pressures of stagnant wages and ever-rising student loan balances, and that underserved communities were able to attract public service professionals to their communities. This promise has been broken. Since the first public service workers became eligible for debt cancellation in 2017, 98 percent of those who applied have been rejected. Despite reassurances from the Department of Education that these were just initial missteps and that rates of debt cancellation granted under this program would improve over time, year after year we continue to see widespread denials without explanation and no serious effort to address the underlying problems driving this systemic failure. Throughout the history of this program, government mismanagement and industry abuses have knocked a generation of dedicated public service workers off track, including student loan borrowers across the public sector and those serving at nonprofit organizations. This led to predictably poor results, highlighted in warnings from government auditors,1 regulators,2 law enforcement officials,3 and Members of Congress.4 Millions of people who planned their lives and livelihoods around the promise of PSLF deserve better. That’s why, earlier this year, the largest international labor unions5; organizations representing servicemembers, veterans, and their families6; a coalition of 100 student, consumer, civil rights, and public interest organizations7; and more than 50 U.S. Senators and Members of Congress8 called on you to immediately take critical steps to restore the promise of the PSLF program. Building on this call to action, we urge you to follow these three central principles when delivering overdue debt relief to our nation’s dedicated public service workforce: Eliminate all student debt owed by those who have served for a decade or more. We call on you to establish new, streamlined criteria for a simple, straightforward path to cancel debt for all who have worked in public service for a decade or more. The current payment pause presents a unique opportunity to bring an end to the mismanagement and abuse that have become the hallmarks of PSLF. Simply, our remedy cannot require dedicated public service workers to start anew, following an equally complicated multi-year pathway to access relief, as the prior Administration had done. This relief must also be extended regardless of current employment status, ensuring all who have served can benefit. The elimination of public service workers’ debts must be underway before restarting student loan payments and before the imminent departure of the Education Department’s primary PSLF loan contractor— ensuring no public service worker who has served for a decade ever receives another student loan bill. Grant one year of credit for each year of service for all public service workers who owe any type of federal student loan. This effort should grant prorated credit toward PSLF for every public service worker with student debt who has served for less than a decade. Regardless of borrowers’ loan type, loan status, or repayment plan, the Department of Education must recognize and reward borrowers’ service, consistent with congressional intent. By reorienting the criteria for eligibility to focus solely on the duration of public service performed, the Department of Education will also make public service workers whole where they have been the victims of widespread deception and fraud by the student loan industry.9 Ensure relief to public service workers is automatic. To the maximum extent possible, the Department of Education should automate the process of verifying and awarding credit to borrowers who owe these debts, relying on information already collected or available through other government agencies. Last month, the Department of Education used this approach to protect military borrowers, delivering debt relief to more than 47,000 current and former active duty service members by leveraging existing government records about borrowers’ employment to automatically waive interest charges.10 The Department of Education should build on this framework, leveraging a wide range of federal, state and local government records—including employment records maintained by the federal Office of Personnel Management, Internal Revenue Service records of employer tax status, and personnel logs maintained by public school districts—to identify and automate access to PSLF for all borrowers who can be identified as public service workers. As noted above, in the weeks since launching this public inquiry, ED has received nearly 45,000 comments from affected student loan borrowers and other stakeholders, offering new insight into the myriad failures of the failed program. These comments have come from educators, frontline workers, legal aid workers and public defenders, firefighters, contingent faculty members, workers laid off due to COVID-19, social workers, among other key segments of our nation’s public service workforce. Yet the consequences of breakdowns around PSLF cannot be captured in a rejection rate or an average loan balance. Individual borrowers’ narratives illustrate the heavy toll that widespread government mismanagement and industry abuses have taken from public service workers with student loan debt.11 During your confirmation hearing, you committed to using all of the tools at your disposal to provide student loan borrowers with immediate relief. You also committed to “boldly address” inequities across our education system.12 The burden of student debt falls disproportionately on Black and Brown borrowers— those who, as a result of a racial wealth gap driven by systemic racism, most often lack the familial wealth necessary to obtain a debt-free higher education in America. Unfortunately, a growing body of evidence also demonstrates that these borrowers frequently miss out on existing avenues for debt relief enacted by Congress.13 For these reasons, fixing existing loan forgiveness programs so that the Department lives up to the promises required under law should be one of the first places you start. Should the Department identify legal, statutory, or regulatory barriers to implementing the steps described above, we believe you must invoke your authority under the Higher Education Relief Opportunities for Students Act or other statutory authorities, that allow you to waive or modify statute and regulations as necessary.14 Once again, we urge you to take immediate administrative action outside of the rulemaking process to deliver the promise that all public service workers who have completed a decade of service see their student debt eliminated, that those workers who have completed less than a decade of service have their past work credited toward full relief, and ensure any action is not limited to prospective change, but delivers retroactive relief for all public service workers. As you take the actions described above, we look forward to meeting with you and your staff to discuss the timeline and tactics the Department will deploy to fix the Public Service Loan Forgiveness program. We stand ready to assist you and President Biden in this effort. Sincerely, Student Borrower Protection Center Equal Justice Works American Federation of Teachers National Education Association 603 Forward AASA, The School Superintendents Association Accountable.US Administration of Resources and Choices (ARC) Affordable Homeownership Foundation Inc. Affordable Housing Centers of PA ALAA UAW Local 2325 Alaska PIRG Alliance for Youth Action American Association of Colleges for Teacher Education American Association of University Professors 12 https://www.help.senate.gov/imo/media/doc/Cardona.pdf 13 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3726183 14 P.L. 108-76 American Federation of Government Employees (AFGE) American Federation of State, County and Municipal Employees (AFSCME) American Library Association American Psychological Association Americans for Financial Reform Education Fund Arizona Housing Coalition Asian Pacific American Labor Alliance, AFL-CIO Association of Educational Service Agencies (AESA) Association of Latino Administrators and Superintendents (ALAS) Association of People Supporting Employment First (APSE) Association of Schools Advancing Health Professions Association of Schools and Programs of Public Health Association of Young Americans Autistic Self Advocacy Network Bet Tzedek Blue Future Broome County Urban League Inc California Association of Nonprofits CCCS of Buffalo Center for Economic Integrity Center for LGBTQ Economic Advancement & Research (CLEAR) Center for Responsible Lending Center for Workers' Rights Central American Resource Center-CARECEN Central Islip Civic Council, Inc. Charlotte Center for Legal Advocacy Chicago Foundation for Women Child Care Law Center Citizens for Public Schools Civil Service Bar Association Clarifi CNC Coastal Enterprises, Inc. Committee of Interns and Residents / SEIU Community Reinvestment Solutions, Inc, Community Service Society of New York Congregation of Our Lady of Charity of the Good Shepherd, U.S. Provinces Consumer Action Consumer Credit and Budget Counseling, Inc d/b/a National Foundation for Debt Management Consumer Credit Counseling Service of Maryland and Delaware, Inc. Consumer Federation of America Consumer Federation of California Consumer Reports Consumers for Auto Reliability and Safety Cook County Public Defenders Office Cooperative Baptist Fellowship of Texas Council on Social Work Education Cuban American National Council, Inc. CWA Local 1036 CWA Local 1081 Cypress Hills Local Development Corporation DC37 Municipal Employees Legal Services Debt Collective Debt-Free MD, Inc. (Maryland) DevNW Disability Rights Maine Empire Justice Center Equal Rights Advocates Equality Maine Financial Inclusion for All Illinois Financial Pathways of the Piedmont Forum for Youth Investment Fossil Fuel Divest Harvard Fosterus Frayser CDC Greenpeace USA Heartland Alliance Hildreth Institute HomeFree-USA Horizons, A Family Service Alliance Housing Action Illinois Housing and Economic Rights Advocates Housing Opportunities of Fort Worth, Inc. Housing Options & Planning Enterprises, Inc. Hudson County Housing Resource Center Illinois PIRG International Association of Fire Fighters (IAFF) International Federation of Professional and Technical Engineers (IFPTE) Inversant Investor Advocates for Social Justice Ironbound Community Corporation Jain Family Institute La Vida Scholars Law Foundation of Silicon Valley Law Students for Climate Accountability Latino Action Network Lawrence CommunityWorks LCLAA Legal Action Chicago Legal Aid at Work Los Ángeles Center for Law and Justice Maine Center for Economic Policy Maine Community Action Partnership Maine Education Association Maine Immigrants Rights Coalition Maine Public Health Association Maine Youth for Climate Justice Margert Community Corporation Maryland Consumer Rights Coalition Massachusetts Affordable Housing Alliance Miami Valley Community Action Partnership Midwest College Project Minority Veterans of America Mobilization for Justice Mt. Airy CDC National Action Network National Advocacy Center of the Sisters of the Good Shepherd National Association of Consumer Advocates National Association of Consumer Bankruptcy Attorneys (NACBA) National Association of Pediatric Nurse Practitioners National Association of Social Workers National CAPACD- National Coalition for Asian Pacific American Community Development National Consumer Law Center (on behalf of our low-income clients) National Disability Rights Network (NDRN) National Housing Law Project National Housing Resource Center National League for Nursing National NeighborWorks Association National Rural Education Association Navicore Solutions New Era Colorado New Hampshire Youth Movement New Jersey Citizen Action New Jersey State Conference of the AAUP New York Legal Assistance Group New York State Defenders Association, Inc. New Yorkers for Responsible Lending Newtown Community Development Corporation NextGen California NHS of Los Angeles County Nonprofit Professional Employees Union, IFPTE Local 70 North Carolina Council of Churches Northeast Ohio Black Health Coalition Northfield Community LDC OCA – Asian Pacific American Advocates Office of the External Affairs Vice President, Associated Students of the University of California Ohio Student Association OneJustice OnTrack WNC Financial Education & Counseling Our Revolution Partnership for College Completion Peace Financial Center Penquis People's Parity Project PHENOM (Public Higher Education Network of Massachusetts) Project LIFT Public Counsel Public Justice Center Public Law Center Refugee Family Assistance Program Revolving Door Project Rise Rockland Housing Action Coalition, Inc. Sandhills Community Action Program Inc SC Appleseed Legal Justice Center SEIU local 509 Service Employees International Union Sisters of St. Francis of Philadelphia Social Security Works Sowing Empowerment & Economic Development, Inc. Spanish American Committee SparkAction St. Petersburg Neighborhood Housing Services, Inc. dba Neighborhood Home Solutions Student Debt Crisis Center (SDCC) Student Veterans of America Suzanne Hawley Counseling, LLC Tanglewood Nature Center & Museum- non-profit Texas Appleseed The Homeowners Employment Corporation The People's Lobby The Western New York Law Center, Inc. Trellis Tri-City Peoples Corporation Troy Rehabilitation and Improvement Program, Inc. Tzedek DC uAspire UnidosUS United States Student Association United Way Bay Area United Ways of Texas UnKoch My Campus Urban League of Middle Tennessee Urban League of Northwest Indiana Urban League of Portland Urban League of Racine and Kenosha Urban League of Rochester U.S. PIRG Virginia Poverty Law Center Women Employed Working Families Party Worksafe Wyandanch Community Development Corporation Young Invincibles Zero Debt Massachusetts 1 https://www.gao.gov/products/gao-18-547 2 https://files.consumerfinance.gov/f/documents/201706_cfpb_PSLF-midyear-report.pdf 3 https://www.mass.gov/news/ag-healey-sues-to-protect-public-service-loan-forgiveness; https://ag.ny.gov/press-release/2019/ag-james-sues-student-loan-servicer-mismanaging-loan-forgiveness -program; https://oag.ca.gov/news/press-releases/attorney-general-becerra-sues-secretary-devos-and-us-departme nt-education 4 https://www.cardin.senate.gov/imo/media/doc/Bicameral%20Oversight%20Letter%20to%20Ed%20Dept% 20on%20PSLF%20Implementation.pdf; https://quigley.house.gov/sites/quigley.house.gov/files/PSLF%20IL%20Letter%202019.05.03.pdf 5 https://educationvotes.nea.org/wp-content/uploads/2021/04/FINAL-labor-letter-on-emergency-PSLF-actio n.pdf.pdf 6 https://vetsedsuccess.org/our-letter-to-dod-ed-asking-them-to-improve-pslf/ 7 https://protectborrowers.org/advocates-pslf-letter/ 8 https://sarbanes.house.gov/sites/sarbanes.house.gov/files/05.05.2021_LETTER_Sec-Cardona-PSLF-Imp rovements.pdf 9 https://protectborrowers.org/public-service-loan-forgiveness-2/ 10 https://www.ed.gov/news/press-releases/us-department-education-grants-interest-rate-benefit-more-4700 0-service-members 11 For example, military borrowers: https://bit.ly/3u25YnC; FFEL borrowers: https://bit.ly/3zCfCyl; teachers: https://bit.ly/3zDG6zS; frontline workers: https://bit.ly/39syFk7; legal service workers and public defenders: https://bit.ly/3zx4q6i; fire fighters: https://bit.ly/3kwr6iR; nurses: https://bit.ly/3lLLHPG; social workers: https://bit.ly/3kwza31; and Connecticut borrowers: https://bit.ly/3nYiiEA.

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April 13, 2021 Today, over 415 organizations signed a letter to President Biden and Vice President Harris, calling on them to use executive authority to cancel federal student debt. The letter, first sent in November and then again in January, has been updated with more than 85 additional signers. The letter was led by Americans for Financial Reform, the Center for Responsible Lending, the National Consumer Law Center, Student Borrower Protection Center, Student Debt Crisis, and Young Invincibles. You can find the press release here. The full text of the letter can be found below. A PDF of the letter (as sent on April 13) can be found here. You can find the press release here.### April 13, 2021 The Honorable Joseph R. Biden, Jr. President of the United States The White House 1600 Pennsylvania Avenue, NW Washington, DC 20500 The Honorable Kamala D. Harris Vice President of the United States The White House 1600 Pennsylvania Avenue, NW Washington, DC 20500 Dear President Biden and Vice President Harris, We, the 416 undersigned community, civil rights, climate, health, consumer, labor, food and farm, and student advocacy organizations write to urge you to boost the economy, tackle racial disparities, and provide much-needed stimulus to help all Americans weather the pandemic and the associated recession by using executive authority to cancel federal student debt immediately. Before the COVID-19 public health crisis began, student debt was already a drag on the national economy, weighing heaviest on Black and Latinx communities, as well as women. That weight is likely to be exponentially magnified given the disproportionate toll that COVID-19 is taking on both the health and economic security of people of color and women. To minimize the harm to the next generation and help narrow the racial and gender wealth gaps, bold and immediate action is needed to protect student loan borrowers, including Parent PLUS borrowers, by cancelling existing debt. There is growing energy and strong bipartisan public support for immediate broad-based debt cancellation. Such executive action is one of the few available tools that could immediately provide a boost to upwards of 44 million borrowers and the economy. Lawmakers and advocacy groups have introduced several proposals to provide various levels of student debt cancellation. In February, Senate Minority Leader Chuck Schumer, Senator Elizabeth Warren, House Financial Services Chairwoman Maxine Waters, and Representatives Ayanna Pressley, Alma Adams, Ilhan Omar, Jamaal Bowman, Mondaire Jones, and Ritchie Torres introduced a bicameral resolution calling on the President to use executive action to cancel $50,000 in federal student loans for individual borrowers.<1> They were joined by 14 other Senators and 51 other Representatives, and received the support of a multi-state group of attorneys general.<2> The resolution highlights that the Higher Education Act empowers the Secretary of Education to cancel federal student debt administratively. During the campaign, you endorsed $10,000 of relief while Congress negotiated the CARES Act, and subsequently promised to provide broad student debt cancellation “immediately” as a coronavirus response. Administrative debt cancellation will deliver real progress on your racial equity, economic recovery, and COVID-19 relief campaign priorities. Student debt exacerbates existing racial inequities; cancellation will help reduce the racial wealth gap. The disproportionate impact of student debt on borrowers of color exacerbates existing systemic inequities and widens the racial wealth gap. Black Americans—and particularly Black women—are more likely to take on student loan debt and struggle with repayment. This burden is particularly acute for those Black students who are targeted by for-profit institutions, which also target veterans and often deliver poor instructional quality and outcomes at a high cost, causing a high proportion of students to drop out. Even for those students who do graduate, gainful employment in the field that they trained for is frequently elusive, leaving students with a lot of debt but not much to show for it. Student debt cancellation has the potential to increase the net wealth of Black households and could even help reduce the racial wealth gap. Cancellation will provide a much-needed economic stimulus. Today’s graduates face a dual crisis: in addition to the ongoing stagnation of wages, the pandemic has impacted their ability to earn income. Students who graduate into a recession face a “scarring” effect on their entire careers, leading to permanently lower employment and earnings. Data from before the pandemic showed that when subtracting all of their debts from all of their assets, today’s young adults with college degrees and student debt were left with a median net wealth of -$1,900 – a decline of approximately $9,000 from 2013. Student debt also impacts seniors, the nation’s fastest-growing group of student debtors. 37% of seniors with student loans are in default, and in 2015 alone, 40,000 borrowers over 65 had their Social Security garnished due to student loans. The mere presence of student debt on households’ balance sheets can make it harder or more expensive for families to get other types of credit and fully participate in the economy. Meanwhile, research shows that student debt cancellation catalyzes drastic, positive changes for borrowers, particularly for those not current on their loans. When borrowers’ student debt is cancelled, their ability to pay down other debts increases; their geographic mobility and ability to stay in rural communities improves, as do their opportunities to pursue better jobs. Cancelling student debt would jumpstart small business formation at a time when tens of thousands of small businesses have closed. These small business closures have most affected Black and Latinx business owners. Student debt cancellation would boost GDP, create jobs, and reduce unemployment. Federal student debt cancellation could have a positive impact on health outcomes. A growing body of research suggests that debt is linked to negative health outcomes and contributes to existing public health disparities. Debt is associated with negative mental and physical health outcomes such as stress, depression, worse self-reported general health, higher diastolic blood pressure, obesity, and even mortality. High blood pressure and obesity, in particular, are both mentioned by the Centers for Disease Control and Prevention (CDC) as conditions that can increase the risk of severe illness from the virus that causes COVID-19. Another study found a connection between debt and foregone medical care. Thus, broad-based student debt cancellation could have profound positive effects on health outcomes. Cancelling student debt would disproportionately help borrowers of color, respond to the coronavirus crisis, and provide much needed economic relief and stimulus. We call on you to deliver on the promise of the Biden-Harris Racial Economic Equity plan by cancelling federal student debt by executive action immediately. Thank you for your leadership, and we look forward to working with you to address the critical issues facing our nation. Sincerely, National groups: 350.org ACLU Action Center on Race and the Economy (ACRE) Advocates for Youth Affordable Homeownership Foundation, Inc. African American Ministers In Action AFT Local 1904–Montclair State University AFT- Local 5222 Agroecology Research-Action Collective Alliance for Youth Action American Academy of Social Work & Social Welfare (AASWSW) American Association of Colleges for Teacher Education American Association of University Professors (AAUP) American Association of University Women (AAUW) American Economic Liberties Project American Federation of State, County and Municipal Employees (AFSCME) American Federation of Teachers American Medical Student Association American Psychological Association Americans for Democratic Action (ADA) Americans for Financial Reform Asian Pacific American Labor Alliance, AFL-CIO Asset Funders Network Association of Flight Attendants-CWA Association of Latino Administrators and Superintendents Augustus F. Hawkins Foundation Autistic Women & Nonbinary Network Bayard Rustin Liberation Initiative Bend the Arc: Jewish Action Campaign for America’s Future Center for American Progress Center for Justice & Democracy Center for Law and Social Policy (CLASP) Center for LGBTQ Economic Advancement & Research Center for Responsible Lending CFPB Union NTEU 335 Change to Win Children’s Defense Fund Clearinghouse on Women’s Issues Coalition on Human Needs Color Of Change Communications Workers of America Community Organizing and Family Issues Community Oriented Correctional Health Services (COCHS) Consumer Federation of America Consumer Reports Council on Social Work Education Demand Progress Demos Disability Rights Education & Defense Fund (DREDF) Emgage Foundation Inc EMPath: Economic Mobility Pathways Faith in Action National Network Family Equality Food Insight Group Forum for Youth Investment Franciscan Action Network Friends of the Earth U.S. Fund for Community Reparations for Autistic People of Color’s Interdependence, Survival, & Empowerment Generation Progress Girls Inc. Greenpeace Groundwork Action HEAL (Health, Environment, Agriculture, Labor) Food Alliance Hip Hop Caucus Hispanic Federation Human Impact Partners IfNotNow In Our Own Voice: National Black Women’s Reproductive Justice Agenda Indivisible Insight Center for Community Economic Development Invest in Women Entrepreneurs Japanese American Citizens League JFI – Jain Family Institute Jobs With Justice Labor Council For Latin American Advancement Lawyers for Good Government (L4GG) League of United Latin American Citizens (LULAC) Legal Aid at Work Liberation in a Generation Main Street Alliance Media Voices for Children Minority Veterans of America MomsRising MoveOn MyPath NAACP NACBHDD – National Association of County Behavioral Health and Developmental Disability Directors NARMH – National Association for Rural Mental Health National Action Network National Advocacy Center of the Sisters of the Good Shepherd National Alliance for Partnerships in Equity (NAPE) National Association for College Admission Counseling National Association for Latino Community Asset Builders National Association of Consumer Advocates National Association of Consumer Bankruptcy Attorneys (NACBA) National Association of Social Workers (NASW) National Black Justice Coalition National Center for Law and Economic Justice National Center for Lesbian Rights National Children’s Campaign National Coalition for the Homeless National Community Reinvestment Coalition (NCRC) National Consumer Law Center (on behalf of its low-income clients) National Council of Asian Pacific Americans (NCAPA) National Disability Rights Network (NDRN) National Domestic Violence Hotline National Education Association National Employment Law Project National Equality Action Team (NEAT) National Fair Housing Alliance National Immigration Law Center National Indigenous Women’s Resource Center National Latino Farmers & Ranchers Trade Association National League for Nursing National Partnership for Women & Families National Resource Center on Domestic Violence National Sustainable Agriculture Coalition National Urban League National WIC Association National Women’s Law Center National Young Farmers Coalition NETWORK Lobby for Catholic Social Justice New Entry Sustainable Farming Project NextGen America Nonprofit Professional Employees Union, IFPTE Local 70 OCA – Asian Pacific American Advocates Oil Change U.S. Organic Consumers Association Our Revolution Parents Organized to Win, Educate and Renew – Policy Action Council ParentsTogether PDK International People For the American Way People’s Action People’s Parity Project Poverty & Race Research Action Council Progressive Change Campaign Committee (BoldProgressives.org) Progressive Leadership Initiative Project on Predatory Student Lending Protect All Children’s Environment PsychArmor Public Advocacy for Kids (PAK) Public Citizen Public Counsel Public Good Law Center Rachel Carson Council Restaurant Opportunities Centers United Revolving Door Project Rise SaverLife School Social Work Association of America Service Employees International Union (SEIU) Sikh American Legal Defense and Education Fund (SALDEF) SisterSong National Women of Color Reproductive Justice Collective Social Security Works Social Work Helper PBC Southeast Asia Resource Action Center (SEARAC) Southern Rural Black Women’s Initiative for Economic and Social Justice SparkAction Student Action Student Borrower Protection Center Student Debt Crisis Student Defense Student Voice SumOfUs Sunrise Movement Swipe Out Hunger Take on Wall Street Tax March The Climate Mobilization The Coalition of Labor Union Women The Congress of Essential Workers The Debt Collective The Education Trust The Feminist Front (FF) The Forum for Youth Investment They Keep Bees Towards Justice U.S. Federation of Worker Cooperatives UE, United Electrical, Radio and Machine Workers of America UnidosUS United Church of Christ, Justice and Local Church Ministries United for a Fair Economy United for Respect United Parents And Students United State of Women United States Student Association UnKoch My Campus URGE: Unite for Reproductive & Gender Equity Voices for Progress Women Advancing Nutrition Dietetics and Agriculture Working Families Party Young Invincibles YWCA USA State and Local groups: AAFF South Region ACTION Tulsa AFGE Local 3354 (AFL-CIO) AFGE Local 704 AFSCME 3299 AFT-Oregon AKPIRG Alaska PIRG Alliance of Rhode Island Southeast Asians for Education (ARISE) Amara Legal Center American Federation of Teachers, Local 2274 Ramapo College of New Jersey American Federation of Teachers, Washington Anti-Poverty Network of New Jersey Arkansas Community Institute Arkansas Community Organizations Asian American Resource Workshop Association of Legal Aid Attorneys – UAW Local 2325 Black Leaders Organizing for Communities (BLOC) Bucks County Womens Advocacy Coalition California LULAC Cambodian Association of Greater Philadelphia Cambodian Mutual Assistance Association of Greater Lowell, Inc. Campus Action for Democracy Carolina Jews for Justice CASA Cascadia Community College Federation of Teachers, AFT-Local 6191 Cash Campaign of Maryland Center for Economic Integrity Center for Popular Democracy Action Central Florida Jobs with Justice Charlotte Center for Legal Advocacy Chicago Foundation for Women Chicago Jobs with Justice Chicago United for Equity Chicago Urban League Children’s Defense Fund Southern Regional Office Children’s Defense Fund-CA Chinese-American Planning Council (CPC) Church Women United in New York State Citizen Action of Wisconsin CitySeed Civil Service Bar Association Cleveland Jobs with Justice coasap Colorado Jobs with Justice Communities for Our Colleges, WA Community Health Councils Community Legal Advocates of NY Community Legal Services, Inc. of Philadelphia Community Service Society of New York Community Voices Heard Comprehensive Youth Services Inc. Consumer Federation of California Convencion Bautista Hispana de Texas Cooperative Baptist Fellowship of Texas Cultiva La Salud Debt-Free MD, INC. Delaware Association of Colleges for Teacher Education Delaware Campaign for Achievement Now Delaware Community Reinvestment Action Council, Inc. Denver Area Labor Federation, AFL-CIO East Bay Community Law Center Education Minnesota Empire Justice Center Equality North Carolina Every Texan Evolve California Fayetteville Police Accountability Community Taskforce Florida Asian Services Florida Asian Women Alliance Florida Student Power Network Forward Montana Fossil Fuel Divest Harvard Fresno Building Healthy Communities Friendship of Women, Inc. Generation Hope Georgia Association of Colleges for Teacher Education (GACTE) Georgia Watch Grassroots Action NY Greenlining Institute Henry Ford College Fed of Teachers, AFT 1650 Hildreth Institute Homeless and Housing Coalition of Kentucky Hometown Action Hoosier Action Housing and Economic Rights Advocates Hudson County Central Labor Council IFPTE Local 194 Improve Your Tomorrow Indivisible San Diego Inversant Iowa Citizens for Community Improvement Iowa Student Action Jacksonville Area Legal Aid, Inc. Just-A-Start Corporation Kanawha Valley National Organization for Women Kentucky Center for Economic Policy LatinxEd Leaders Igniting Transformation Leadership Counsel for Justice and Accountability Legal Aid Society of Milwaukee Legal Aid Society of the District of Columbia Legal Services Staff Association, NOLSW/UAW 2320 Long Beach Alliance for Clean Energy Los Amigos of Orange County Louisiana Budget Project LSCNY, Inc. LULAC of Simi Valley MAHA Maine Center for Economic Policy Mainers for Accountable Leadership Maryland Association of Colleges for Teacher Education Maryland Consumer Rights Coalition Massachusetts Affordable Housing Alliance Massachusetts Budget and Policy Center Massachusetts Communities Action Network Massachusetts Jobs with Justice MD Chapter, NASW Miami Valley Fair Housing Center, Inc. Michigan Poverty Law Program Millennial Rhode Island Mission Possible Community Services, Inc. Mississippi Center for Justice Mobilization for Justice Montana Fair Housing Morgantown Pastoral Counseling Center, Inc. Mountain State Justice MS Black Women’s Roundtable and MS Women’s Economic Security Initiative National Association of Social Workers New Hampshire Chapter National Association of Social Workers New Mexico Chapter National Association of Social Workers Vermont Chapter National Association of Social Workers, California Chapter National Council on Alcoholism and Drug Dependence-Maryland Chapter NC Climate Justice Collective Network for Victim Recovery of DC New Economics for Women New Economy Project New Energy Economy New Era Colorado New Georgia Project Action Fund New Hampshire Youth Movement New Jersey Advocates of Education (NJAE) New Jersey Association of Mental Health and Addiction Agencies, Inc. New Jersey Citizen Action New Jersey Institute for Social Justice New York Legal Assistance Group (NYLAG) New York Public Interest Research Group (NYPIRG) NextGen California NJ Communities United North Carolina Council of Churches Northeast Organic Farming Association-Interstate Council (NOFA-IC) Northeast Sustainable Agriculture Working Group OCA – Asian Pacific American Advocates: San Francisco Chapter OCA Asian Pacific Advocates – Greater Seattle OCA Greater Chicago OCA Greater Cleveland – Asian Pacific American Advocates OCA South Florida Chapter Ohio Student Association Oklahoma Association of Colleges for Teacher Education (OACTE) Olive Hill Community Economic Development Corporation, Inc Our Revolution Michigan PA Stands Up Pennsylvania Council of Churches Piedmont Alliance for the Prevention of Substance Abuse (PAPSA) Premier Women’s Council Progress Virginia Progressive Leadership Alliance of Nevada Public Higher Education Network of Massachusetts (PHENOM) Public Justice Center Public Law Center Quiet Creek Herb Farm & School of Country Living Reinvestment Partners Rhode Island College AFT Local 1819 S.C. Appleseed Legal Justice Center Save Us Now Inc SEIU Local 500 SEIU Local 509 SOULS Southern Echo Inc. Southern Maryland Community Network SPACEs In Action Strong Economy For All Coalition SW Action The Collaborative The Freedom BLOC The Health, Education and Legal assistance Project: A Medical-Legal Partnership at Widener University Delaware Law School (HELP: MLP) The Midas Collaborative The New York Women’s Foundation THE ONE LESS FOUNDATION The Recovery Council Triangle Community Foundation Tzedek DC United Action for Idaho United College Employees of FIT United Vision for Idaho United Way of Greater Greensboro United Way of Southern Cameron County Unity Fellowship of Christ Church NYC University of California Student Association Virginia Association of Colleges for Teacher Education (VACTE) Virginia Organizing VOCAL-NY VOICE – OKC Washington Bar Association Washington Bar Association, Young Lawyers Division Wayne State University, AAUP-AFT Local 6075 We All Rise West Virginia Center on Budget and Policy Western Center on Law and Poverty Wisconsin Faith Voices for Justice Wisconsin Network for Peace and Justice Women Employed Women’s March Ann Arbor Women’s Rights and Empowerment Network Women’s Foundation of Arkansas Women’s Foundation of Minnesota Women’s Fund of Rhode Island WV Citizen Action Education Fund YWCA Great Falls Zero Debt Massachusetts Zonta Club of Concord, NH ________________ <1> https://www.warren.senate.gov/newsroom/press-releases/warren-schumer-pressley-colleagues-president-biden-can-and-should-use-executive-action-to-cancel-up-to-50000-in-federal-student-loan-debt-immediately <2> https://ag.ny.gov/sites/default/files/multistate_letter_in_support_of_administrative_student_debt_cancellation_final.pdf

Advocates Call on President Biden to Fix the Broken Student Loan System Before Restarting Student Loan Payments, Commemorate the One-Year Anniversary of the CARES Act There is a broad consensus among borrowers, advocates, industry, regulators, enforcement officials, and lawmakers of both parties that a rush to resume student loan payments is a recipe for disaster MARCH 27, 2021 | WASHINGTON, D.C.— Today, the nearly three-dozen undersigned organizations released the following statement on the one-year anniversary of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). On March 27, 2020, President Trump signed legislation pausing student loan payments and suspending interest charges for tens of millions of student loan borrowers-- a set of protections extended via executive actions taken in August, December, and January. One year later, organizations representing millions of students, student loan borrowers, workers, veterans, people with disabilities, people of faith, and consumers called on President Biden to keep his promises to student loan borrowers before restarting student loan payments: President Biden must make good on his promises to student loan borrowers before they have to pay back another dime. Before the pandemic struck, tens of millions of borrowers struggled to navigate a badly broken student loan system. America's student debt crisis wreaked havoc on the financial lives of families across the country, despite payment relief and debt forgiveness programs that promised that these debts would never be a life-long burden. The Biden Administration now has a once-in-a-generation chance to repair the damage caused by decades of government mismanagement and industry abuses--an opportunity and an obligation that must be fulfilled before any action is taken to resume monthly student loan payments. There is a broad consensus among borrowers, advocates, industry, regulators, enforcement officials, and lawmakers of both parties that a rush to resume student loan payments is a recipe for disaster, absent significant structural reforms and real, immediate relief, such as debt cancellation, for borrowers trapped in this broken system. The preceding statement was released by the following organizations: Student Borrower Protection Center Alaska PIRG American Federation of Teachers - Oregon Americans for Financial Reform Anti-Poverty Network of New Jersey Association of Latino Administrators and Superintendents Association of Young Americans (AYA) Carolina Jews for Justice Center for Responsible Lending Community Service Society of New York Consumer Federation of California Debt Collective Debt-Free MD, Inc. Housing and Economic Rights Advocates JFI - Jain Family Institute Minority Veterans of America National Consumer Law Center (on behalf of our low-income clients) National Disability Institute New Era Colorado New Jersey Citizen Action New Yorkers for Responsible Lending Ohio Student Association People's Parity Project Public Citizen San Francisco Office of Financial Empowerment SEIU Local 500 Student Debt Crisis U.S. Public Interest Research Group United Church of Christ, Justice and Local Church Ministries Western Center on Law and Poverty Women Employed Young Invincibles Zero Debt Massachusetts BACKGROUND On January 21, 2021, President Biden issued an executive action pausing student loan payments, suspending interest charges, and halting debt collection for all student loans owned by the federal government through the end of September 2021. This action continued a pause in student loan payments first initiated by President Trump in March 2020, codified by Congress via the CARES Act, and extended via prior executive actions in August and December 2020. No student loan borrower with a federally-held loan has been required to make a student loan payment since March 2020. However, the existing payment pause is incomplete. More than 9 million student loan borrowers have been excluded from all federal student loan debt relief programs enacted since the start of the COVID-19 pandemic. Lawmakers from both parties have introduced legislation to address the borrowers left out from the suspension, and advocates have called on the Biden Administration to take immediate executive action to extend protections for these borrowers. Throughout the history of the federal student loan system, borrowers, including servicemembers, public service workers, defrauded borrowers, people with disabilities, and people with low incomes, have failed to benefit from programs intended to protect them from severe financial hardship. Across the country, millions of these borrowers are forced to shoulder debts that should have been canceled under the law. Advocates, including many of the organizations signing this statement, have called for the Biden Administration to immediately deliver relief for these borrowers as part of a comprehensive effort to reform the student loan system.

The COVID-19 pandemic is still harming Americans with student debt. The vaccine has many hopeful that an end to the health crisis is in sight. But, the economic crisis will impact Americans for months and years to come. The good news is federal student loan repayment programs that can help today. RSVP HERE: Student Loan Help Session and COVID-19 Policy Update online Thursday. Experts will be available to answer questions. Share this link with a friend or family member struggling with student debt. The workshop on Thursday is free and open to all. You may have heard - President Biden extended the COVID-19-related pause on federal student loan payments through September. Join advocates and experts for a discussion about student loan relief enacted during the COVID-19 pandemic and options for the future. Plus, there will be time for Q&A We believe helping borrowers is a critical part of solving the student debt crisis. We have already helped over 15,000 borrowers understand recent changes and we plan to help thousands more. We hope you’ll join us! Save your seat for the Student Loan Help Session here. Then, check out our Twitter and Facebook for more of the latest updates. We are working tirelessly to end the student debt crisis - that includes broad-based student debt cancellation. Will you join our fight? Send a letter to your representatives in Congress and tell them to support an executive action to cancel student debt.

Statement: Advocates Representing 2 Million Americans Urge Biden to Cancel Student Debt We urge President Biden to cancel at least $50,000 in federal student debt by executive action. We know the President is committed to student loan reform. However, the unprecedented health and economic crisis caused by the COVID-19 pandemic requires immediate action. Millions of Americans continue to face the impacts of the pandemic; job losses, evictions, and small business closures are sweeping across the country. The urgency to provide student debt relief couldn’t be greater and the surest way to get immediate cancellation is through executive action. “Only a few weeks ago, the Biden Administration said it would review using executive action to cancel student loan debt. We are confident that the President does have the legal authority to cancel student debt, that permanent debt relief is an economic stimulus for everyone, and that it addresses systemic racism that leaves Black borrowers crushed by debt," said executive director Natalia Abrams. “President Biden can ease the suffering of millions of student loan borrowers and he can do so with the stroke of a pen. The President repeatedly promised to cancel student debt immediately and we join our two million supporters in holding him accountable to this promise.” Senate Majority Leader Chuck Schumer, Senator Elizabeth Warren; Representatives Pressley, Chairwoman Waters and over 50 other lawmakers cosponsored a resolution urging President Biden to cancel at least $50,000 in federal student loan debt. Over 325 civil rights, consumer rights, veteran, and student groups sent a letter to President Biden lending their support and urging him to cancel student debt by executive action. We support this effort and we encourage the administration to use its power under existing law to improve the lives of millions of Americans.

February 1, 2021 President Joseph R. Biden, Jr. The White House 1600 Pennsylvania Avenue NW Washington D.C. 20500 Re: Consumer protections for next COVID legislation Dear President Biden, The 85 undersigned consumer, civil rights, community, housing, faith, and other public interest organizations write to highlight critical budget-related items that would help consumers and that we urge you to include in the next coronavirus recovery package or other upcoming COVID-19 legislation. Over the past eleven months, we have seen the COVID-19 pandemic wreak havoc on the lives of Americans. Our coalition has written many times to urge Congress to protect people’s homes, cars, bank accounts, income, and benefits so that they can weather this crisis. Unemployment remains alarmingly high, and many families find themselves in precarious situations as state governments struggle to catch up with the backlogs of unemployment applications. Due to underlying health and socioeconomic disparities, low- and moderate-income families and communities of color, especially Black, Latinx, and Native American communities, have been hit particularly hard by illness, unemployment, and economic instability. Women of color face intersecting inequities from health and economic disparities based on race and sex. We hope you can achieve bipartisan consensus on broad-based, efficient, and effective relief as we have outlined before. But if the Administration chooses to use the reconciliation route, we want to emphasize these especially urgent, budget-related items, which would have an immediate impact on consumers and would drastically help alleviate the financial hardship faced by American Families: Halt garnishment and offset of tax refunds, which contain stimulus payments, EITC, and Child Tax Credit payments. While a full wage and bank account garnishment moratorium and longer-term reform of garnishments are needed, at a minimum, we must prevent reductions in this season’s tax refunds. These tax refunds will include millions of stimulus payments that were not paid or received earlier, the special look-back Earned Income Tax Credit that Congress enacted, and Child Tax Credit payments. These tax refunds should not be reduced (offset) to repay federal student loans or other federal debts. In addition, they should not be garnished by debt collectors. Debt collection lawsuits that result in garnishment heavily impact communities of color and front-line workers. Protecting tax refunds from offset or garnishment will stimulate the economy, protect families by allowing the funds to be used to cover necessities as Congress intended, and mitigate the need for additional federal benefit or stimulus spending. Fund a Housing Assistance Fund and housing counseling. This funding would provide support for homeowners who need cash assistance to avoid foreclosure beyond available programs and would help stabilize the housing market and prevent unnecessary foreclosures. Support for struggling homeowners is an important step for racial equity at a time when, according to the Household Pulse Survey of the U.S. Census Bureau, 24.7% of Black borrowers and 19.8% of Hispanic borrowers are not current on their mortgage payments, compared to 8% of white borrowers. Cancel student debt. The President has the authority to cancel federal student loans without legislation, and a large and growing coalition of advocates continue to urge him to use it. Congress should consider both pausing student debt payments and providing debt cancellation to those who have been left out of the payment pause: private student loan borrowers, and those with commercially-held loans and Perkins loans. Cancelling student debt would stimulate the economy, reduce the racial wealth gap, provide much- needed stimulus to help all Americans weather the pandemic and financial crisis. To minimize the harm to the next generation and help narrow the racial and gender wealth gaps, bold and immediate action is needed to protect student loan borrowers, including Parent PLUS borrowers, by cancelling existing debt. We urge you to include these consumer protections in the next COVID-19 relief legislation to provide families with the temporary relief they need to get through this unprecedented emergency and to provide much-needed stimulus to the economy. Although these protections will lay the foundation for more stable communities and a faster economic recovery, it is not an exhaustive list, and we continue to advocate for broad-based relief. We ask that you incorporate this assistance in the next package to protect people’s financial resources as the COVID-19 pandemic continues to wreak havoc on many communities across the United States. Thank you for your consideration. If you have any questions, please contact Linda Jun at linda@ourfinancialsecurity.org or Rachel Gittleman at rgittleman@consumerfed.org Sincerely, National Groups: Americans for Financial Reform Association of Young Americans CAARMA Center for Community Progress Center for Responsible Lending Congregation of Our Lady of Charity of the Good Shepherd, US Provinces Consumer Federation of America Consumers for Auto Reliability and Safety Demos Esperanza NAACP National Advocacy Center of the Sisters of the Good Shepherd National Association for Latino Community Asset Builders National Association of Consumer Advocates National Association of Consumer Bankruptcy Attorneys (NACBA) National Center for Law and Economic Justice National Consumer Law Center (on behalf of its low income clients) National Employment Law Project National Fair Housing Alliance National Housing Resource Center National Urban League Prosperity Now Public Citizen Public Counsel Public Good Law Center Public Justice Sciencecorps SPLC Action Fund Student Borrower Protection Center Student Debt Crisis UnidosUS Woodstock Institute State Groups (alphabetical by state): Alabama Arise Alaska PIRG Alaska Poor People's Campaign Center for Economic Integrity (AZ) Arkansas Community Institute Arkansas Community Organizations California Reinvestment Coalition East Bay Community Law Center (CA) Housing and Economic Rights Advocates (CA) Public Law Center (CA) Western Center on Law & Poverty (CA) Connecticut Fair Housing Center Legal Aid Society of the District of Columbia Save Us Now Inc (DC) Tzedek DC Delaware Community Reinvestment Action Council, Inc. Florida Silver Haired Legislature Jacksonville Area Legal Aid, Inc. (FL) Georgia Watch New Georgia Project Chicago Consumer Coalition CrescentCare (LA) Public Justice Center (MD) Greater Boston Legal Services (on behalf of its low-income clients) Massachusetts Communities Action Network Massachusetts Law Reform Institute Public Higher Education Network of Massachusetts (PHENOM) Michigan Poverty Law Program Legal Services of New Jersey New Jersey Citizen Action CAMBA, Inc. / CAMBA Legal Services, Inc. (NY) Center for NYC Neighborhoods, Inc. District Council 37 Municipal Employees Legal Services (NY) Empire Justice Center (NY) JASA/Legal Services for Elder Justice (NY) Mobilization for Justice (NY) New Economy Project (NY) NHS Brooklyn, CDC, Inc The Legal Aid Society (NY) Charlotte Center for Legal Advocacy (NC) Ohio Student Association Community Legal Services of Philadelphia Philadelphia VIP South Carolina Appleseed Legal Justice Center South Carolina State Conference NAACP Neighborhood Health (TN) Every Texan Texas Appleseed United Way of Southern Cameron County (TX) Vermont Legal Aid, Inc. Legal Aid Justice Center (VA) Virginia Citizens Consumer Council Mountain State Justice (WV)

SACRAMENTO --- Assemblymember Mark Stone (D-Monterey Bay) has introduced legislation to protect private student loan borrowers from unsubstantiated lawsuits. AB 424 requires private student loan lenders and debt collectors to comply with common sense evidentiary standards when bringing debt collection lawsuits against borrowers. When a borrower falls behind on loan payments, lenders and debt collectors pursue aggressive litigation, in an “assembly line” of lawsuits against the borrower. The plaintiffs in these cases are typically not the original lenders; rather, they are trusts, loan servicers, or debt collectors that purchase and bundle debts. Plaintiffs may claim to be the holder of the loan, yet routinely fail to provide critical paperwork documenting the loan’s chain of ownership. The National Collegiate Student Loan Trust (NCT) holds 800,000 private student loans and is one of the nation’s largest holders of these loans. An audit of NCT loans revealed that NCT could not establish the chain of ownership for any of the 400 loans in the sample. Plaintiffs like NCT win many of these lawsuits automatically because borrowers are often unfamiliar with the judicial system and unable to afford representation. These lawsuits have a devastating impact on student borrowers and often result in garnished wages or seizure of federal benefits from bank accounts. “As of June 2020, more than 650,000 Californians owed $10.3 billion in private student loan debt. Private student loans often have higher interest rates and offer fewer consumer protections than federal student loans,” said Stone. “Low-income and students of color are more likely to take out private loans and are often subjected to predatory practices that increase their debt burden and decrease their likelihood of pay-off. These lawsuits have a devastating impact on student borrowers, many of whom are already economically disenfranchised.” AB 424 will help vulnerable communities by first establishing minimum evidentiary standards for lawsuits filed by private education lenders or loan collectors against borrowers. It will require lenders and collectors to provide specified records including, but not limited to: documentation establishing the chain of ownership, records of negotiations, and a log of collection attempts, which would be made available at the request of the borrower. AB 424 will also allow a borrower to pursue avenues of enforcement if a lender or collector fails to comply with provisions of this bill. “Debt collectors have a notoriously poor track record for suing borrowers even though they don’t have the documents to prove that money is actually owed,” said Antonio Carrejo, Policy Counsel for Consumer Reports. “This bill will help stop these predatory practices by requiring lenders and debt collectors to properly substantiate their loan records before suing a borrower in court and when seeking to obtain a judgment.” "For years, unscrupulous collectors have abused California's court system to falsify debts and pursue student loan borrowers with bogus lawsuits. Now, these companies are seeking to use a global health and economic crisis as a chance to profit," said Seth Frotman, Executive Director of the Student Borrower Protection Center. With this legislation, borrowers statewide will be protected against the predatory practices of these companies. "Student borrowers with private student loans are often dragged into court by predatory student loan lenders and debt collectors making unsubstantiated legal claims because private student loans lack many important consumer protections,” said Samantha Seng, Education Policy Advisor, NextGen California. “Far too often, these targeted students are students of color and such lawsuits result in devastating economic consequences for borrowers who are already in dire financial straits.” "If we truly believe access to higher education is going to level the playing field, then we must acknowledge the disproportionately higher rate of private loans assumed by low-income, Black, Latino, and students of color more broadly," said Kristin McGuire, Western Region Director at Young Invincibles. "These students are more likely to fall victim to predatory collection practices including unsubstantiated lawsuits." "Too many Californians fall behind on their private student loans and fall victim to harassing debt collectors calling them at all hours, overwhelming them with paperwork, and invasively contacting their family, friends, and employers.," said Natalia Abrams Executive Director of the nonprofit Student Debt Crisis. "We applaud Assemblymember Mark Stone for taking much-needed action to protect private student loan borrowers, and stop unfair lawsuits by debt collectors with no evidence to support their claims." AB 424 now awaits referral to a policy committee. ###