If you’ve been contacted by the Student Borrower Protection Center, or been told to get in touch with them for assistance with your student debt, but you’re not sure whether or not this is a scam, then the good news is that this is a legitimate Nonprofit agency who you can actually trust.
The Student Borrower Protection Center was formed in November, 2018, by the former Student Loan Ombudsman at the Consumer Financial Protection Bureau, Seth Frotman, in coalition with others from the CFPB who he convinced to leave and start their own new agency.
Why Did Seth Frotman Create the Student Borrower Protection Center?
Mr. Frotman apparently left the CFPB because Federal officials (including Trump’s Education Secretary Betsy DeVos) had been stonewalling all of the DOE’s and CFPB’s efforts to actually help borrowers, siding instead on the behalf of schools and student loan servicing companies, and basically leaving ordinary Americans hung out to dry.
As a great example of the massive problems occurring at the Federal level, CNBC just reported that of the 34,000 applications submitted for the Public Service Loan Forgiveness Program, just 26 of them had been approved, again, as of November, 2018.
That’s an appallingly low number, and an obvious case of Federal officials working against the public’s best interest by ruining the single most effective, and most important Federal Student Loan Forgiveness Program available.
What Does the Student Borrower Protection Center Do?
The SBPC is a non-government agency, meaning it isn’t beholden to elected officials, and can basically operate however it wants, but it sounds like their agenda will be to advocate both privately and publicly for changing student loan laws to make Federal Student Loan Relief, and especially forgiveness benefits, more widely available to the public.
I think they’ll be operating almost like a Lobbying Firm, working with members of Congress, but also State and Local officials, to find ways to undo the student loan crisis, which even Betsy DeVos has finally admitted is “stealing from future generations”.
But the new SBPC may be in for a long and hard fight, because the Federal CFPB is still staffed with Trump appointees who seem to be willing to die on the sword of battling against student’s rights, as Mick Mulvaney, acting head of the CFPB, recentlys crapped planned to overhaul student loan collection laws, while Betsy DeVos’s Education Department is trying to prevent state oversight of federal loan servicers.
Basically, the foxes are in charge of the henhouse, and there are very few voices in positions of power now attempting to turn things around.
The situation is so stark that Mr. Frotman put it bluntly:
The Federal Government hasn’t just walked away from the fight on behalf of borrowers… It is actually arming the other side.
Can the Student Borrower Protection Center Help Me?
It sounds like the SBPC won’t necessarily be helping individual borrowers with any sort of planning, preparation or legal counseling services, but that it’s more focused on the big picture, working with Government agencies, but not Federal ones, to try and reform the broken Federal student loan repayment system.
In a quote, Mr. Frotman mentioned that the group’s goal will be to help policymakers and attorneys work on improving student loan borrower protections, specifically by working with government officials at the state level, as well as State attorneys general, to increase oversight of lenders and servicers.
And this is a task badly needed, as we’ve seen scandal after scandal in recent months, including the massive issues currently gripping some of the country’s biggest Student Loan Servicing Companies, like Navient, FedLoan and Great Lakes.
Once again, however, this could lead to major showdowns, as our Department of Education is clearly opposed to adding any sort of State-based oversight, which can be seen in their willingness to duke it out in court against Massachusetts and other states who have attempted to impose new rules on Federal Student Loan Collections Agencies.
I absolutely salute everything that Mr. Frotman and his colleagues are doing, and wish them the best of luck in their efforts, because student loan reform is long overdue, and it doesn’t appear that there’s any help on the horizon, at least as long as the Trump Administration remains in power.
Where Can I Get Help With My Loans?
I’m glad you asked! Forget Student Loan Debt was created to help people deal with their outstanding student loans, and my site offers all sorts of resources and guides on different parts of the student loan repayment process, with a primary focus on explaining forgiveness and relief benefits.
If your’e looking for Help with Federal Student Loans, be sure to look at my Guides on Federal Student Loan Forgiveness Benefits, The Borrower’s Defense To Repayment Program, the Closed School Loan Discharge Program, Federal Student Loan Bankruptcy Discharges, Federal Student Loan Consolidation Options, Federal Student Loan Delinquency & Default Help, the Federal Student Loan Rehabilitation Program, and Federal Student Loan Repayment Plans.
And if you need Help with Private Student Loans, you’ll want to view my Guides on Private Student Loan Forgiveness Benefits, Private Student Loan Consolidation Options, Private Student Loan Bankruptcy Discharges and Private Student Loan Default Assistance.
I used to recommend visiting the official Department of Education website, but honestly, you’re not going to get any valuable assistance from them as long as President Trump’s people remain in charge over there.
And finally, if you have any questions about student loans, or if you have thoughts on the opening of the new Student Borrower Protection Center, then please feel free to leave them in the Comments section below.
Thanks for stopping by!
Disclaimer:Information obtained from Forget Student Loan Debt is for educational purposes only. You should consult a licensed financial professional before making any financial decisions. This site receives some compensation through affiliate relationships. This site is not endorsed or affiliated with the U.S. Department of Education.
By: Tim Marshall
Tim's experience struggling with crushing student loan debt led him to create the website Forget Student Loan Debt in 2011, where he offers advice, tips and tricks for paying off student loans as quickly and affordably as possible.
When I considered a career in counseling, I thought of the people I could help. People with a past similar to mine- abused, abandoned children. I originally went to +++++++ because the only relative I had lived minutes away from the school. I got a Bachelor’s Degree in Psychology from ++++++++ and it came time to make a big decision about my future- do I stay or do I go. Since I wanted to be a licensed counselor, I considered the graduate program at +++++++++ to be a great option. They had a counseling program with a quality reputation and the staff regularly expressed the stellar rate of success students had when it came to licensure exams. I applied to the program and, to my surprise, I was accepted despite my less than impressive 2.3 GPA. When I started the program, I fully committed myself to graduating and taking the steps to get my license. After three and a half years, I had completed 54 of 60 course hours with a solid 3.58 GPA. All I needed to do was complete a couple more intern courses and I was done! Unfortunately, I never got that chance. Due to my criminal history, I was ineligible for assignment to those internships. I had a domestic violence charge and a couple other misdemeanors on my record prior to enrolling in the program. I didn’t realize that a few years later it would still haunt me. I was devastated and confused at the same time. How could I have not seen this coming and how could no one have told me that it would keep me from achieving my lifelong goal of helping people through counseling. I think back to that decision- do I stay or do I go. I can say with all sincerity that I would not have wasted those years in my life and took out loans for tens of thousands of dollars had I known that a Clinical Mental Health Counseling degree was an unattainable for me. Based on everything I have researched, I should have never been accepted into that program. For decades, universities have had the authority to screen an applicant’s background, and for decades they have done so to prevent circumstances like mine from happening. I was never screened.
I’m a 61 year private hospital schoo teacherI that tried to help my son by getting a Parent Plus Loan. There doesn’t seem to be any options( no forgiveness available, etc. ) for paying back this loan. I was talked in to consolidating the from 7.5% to 8%. Sometimes, I pay over the amount of the monthly premium. However, it doesn’t made a dent because of the interest. Any ideas that you have to help me would be greatly appreciated.
Hi Ronnie,
Check out my Guide to Forgiveness for Parent PLUS Loans!
I think someon needs to get this article to representative Alexandria Ocasio Cortez. I don’t have Twitter or her email to forward to her.
Hi Carol,
Google her name and you can find her contact information! I’d LOVE to get on AOC’s radar and get her working on student loan advocacy. I’m not sure why she and so many of the other Reps and Senators ignore the student loan crisis as much as they do, but it’s a BIG DEAL that everyone should be talking about!
I posted this on the CFPB, but didn’t realize it was falling on deaf ears.
Dear Madam or Sir at CFPB,
Please help me relay this message to Mr Bezos, Mr Gates, Mr. Buffett, Mr. Arnault, and Mr Zuckerberg (and others), who are all intelligent human beings leading innovation and reform. I’m sure Mr Seth Frotman would have agreed that with their combined IQs, surely they could help to figure something out. After all, what is a country if not a company, and its citizens if not employees sharing our patriotical and patriarchal leaders and billionaires values and goals!
I am a long standing customer of SallieMae/NAVIENT Solutions (2008 – 2019), the Loan Management Service: http://www.navient.com. I’m trying to be more vocal on different platforms but moderators are constantly deleting my accounts and posts. I get there are rules and regulations, but where else can anyone be heard without being silenced or prosecuted?
In efforts to drive their stock prices high and keep their shareholders happy, their qualified employees knowingly gave me and countless others bad advice. They placed me in forbearance’s and deferments when they should have offered me and others solutions such as IBR plans and PSLF. This did not help me whatsoever and now they are spamming my phone to get me on their side, and if they are left unchecked, “help” me and others into more debt:
1.https://en.wikipedia.org/wiki/Navient_Corporation#Lawsuits,_investigations,_settlements,_and_controversies
2. https://www.consumeraffairs.com/finance/navient.html?preview_review=5145487
3. https://www.forbes.com/sites/zackfriedman/2019/01/14/navient-complaints-student-loans/#171fad385152
4. https://ca.finance.yahoo.com/news/student-loans-government-problem-193631224.html
5. https://www.google.com/search?source=hp&ei=YjWwXNq5IILV-gSFsLo4&q=navient+lawsuit&btnK=Google+Search&oq=navient+lawsuit&gs_l=psy-ab.3..0j0i67j0l8.489.2393..2630…0.0..3.427.1852.8j0j3j0j1….2..0….1..gws-wiz…..0..35i39j0i20i263j0i131.Bg2M-QHofJI
This company and its subsidiaries are operating in bad faith (if you are religious) and doing more harm than helping.
I can be naive and hope that everyone is working hard to do and be their best, but how can anyone protest against a group of individuals that only answer to money, and backed with unlimited resources? Should I not encourage others to sell everything (ETFs, mutual funds, etc..) that Navient and its subsidiaries are associated with to fix a broken system? If this was proposed to others in my situation, they would rally and help this company’s stocks to 0.000000000 to help this bully just as much as it’s “helped” them. Reform in the only language it understands, $$$!!!
Please help me convey this message to other and all social media before it gets more out of control. Make an example of NAVIENT. Their shareholders and employees should feel the pain of their AMERICAN CITIZENS (emotional distress and duress) and ensure millenials don’t die before their parents! Over dramatic? Mr Frotman resigned in protest for a reason. This is the greatest country on earth yet where is the Justice in all of this? If this country expects us to be the best, then to help everyone, this is what millions of American citizens in my situation would call the ULTIMATE PUBLIC SERVICE AND LOAN FORGIVENESS (PSLF) program. The BEST for EVERYONE, but at the end of the day we want more MONEY, not justice, fairness or equality.
“Hippocratic school: “Practice two things in your dealings with disease: either help or do not harm..” – I would rather you help, because one good deed rewards another! In fact, this can help spread a message of helping 3 other people, and pass it on, instead of saying…
Thank you!
Forgive loans to inspire change, good behavior and productivity among millions of Americans who may not care about repaying their loans if they see no hope!
Hi “The Don” – this is a well-written and useful letter so I’m going to let it through. Normally I wouldn’t approve Comments like this, but I appreciate the time and effort you put into building this. Good luck getting help with your loans!
Hello, We are 70’s year old grandparents that have been paying a Sallie May loan for several years because we unfortunately signed as cosigners for her $30,000 a year art school SCAD in Savannah Georgia. She has never payed anything and wont talk about it.. They did promise heaven until about eleven that night when my husband agreed and she supposedly had a 30,000 scholar ship that she never got.Housing was a nightmare and she moved out.We are both retired and my husband is 100% disabled now.She will never pay and can’t get her transcripts to try something else. How in the world can we get out from under this co signed loan. I am positive they don’t even send her a bill at all because we are on the hook. We have to pay $460.00 every month . Yes we both get SS and he gets Veterans benefits. We have had another family member live with for 2 years now .There is a teenager involved so it is still a struggle. Please help and point me in a positive direction.Please tell everyone JUST SAY NO! IDC how cute they are or how they treat you or who they are JUST SAY NO!!! Thank you
Hi Danna,
If your husband is 100% disabled, then you need to look into the Total and Permanent Disability Discharge Program, which you can find here: https://www.disabilitydischarge.com/
I had a student loan for $11,000 and because I was out of work for two years and couldn’t find a job in my field was convinced to take forbearances and when they ran out I had to go into default until I got work again. Now my balance is $83,000 and growing because I am only able to make payments of $375 as I am now 67 and on social security and a small pension. I don’t know what to do as I was told I don’t qualify for loan forgiveness.
Hello,
From 2006-2009 I attended WestWood College Online Denver North using my Montgomery GI Bill. They contacted me in early 2009 and basically said that unless I started paying out of pocket I wouldnt be able to continue. They had exhausted the majority of my GI Bill, I had taken out several federal loans to cover costs for outlandishly priced programs and art kits. They dropped me because I could not pay them over $1,000 a month to continue. I attended ITT Tech in 2010-2012 where I got my degree in Information Technology and couldnt find a job above minimum wage to save my life. Both schools closed and went bankrupt. I am stuck with $48,000 in federal debt. I was able to use Vocational Rehab through the VA to get back into an actual school and I am projected to graduate in 2020. Will I be able to process anything for those two schools? I have them both through myfedloan.org at almost 7% interest which is acruing interest like a snowball.
Hi Jaime,
I’d look into options for using the Borrower’s Defense to Repayment Program against those schools.
I have a specific post about ITT Tech Forgiveness, and another one about Westwood College Forgiveness, so give those a read for full details on exactly what you should do.
Im Requesting to speak to the personal involved with SPBC as I have relevant information about deceitfulness in the process that Sallie Mae convince me to Consolidate 2 small loan into 1. or I would be going in default.. What they did is Defraud me and while doing so defrauded the DOE.
Today I have communicated with Both Ombudsman Group and Navient as Im in default because of there actions in 2000 . The information I wish to provide are alarming and will shine new light of how they Deceived me .. Very Real story .. Im also needing Legal counseling so as to be able to subpoena Both Sallie Mae Navient as well as Ombudsman group. which up to now have stayed neutral an have been assisting my effort to get my case resolved..
As I have mentioned all along to all parties that my Consolidation loan became Null an Void when I was entered into a Consolidation by Sallie with pressure that if I didn’t consolidate my loan would go into “DeFault “” Big scam found out later in time that it was a trap and there was verbiage in the Consolidation I signed off with out reading or really knowing what right I was giving up at the time.. Found out 2-4 after that I was Screwed when I reached out and spoke to Financial Institutions who where offering to by my Student loans and where offering 4% interest . exc exc But once I gave them my DOB and SS they look into the database and found that few month earlier Sallie mae had consolidated my loan and there was provision in the Consolidation Excluded my Loan from being Purchased by anyone including these Companies I mention above .. They where the ones that made me realise the deceit and un ethical act perpetrated upon me . and who knows how many others this was Perpetrated in that same time frame.
Id really like to speak ,, Need to speak with any Attorney from the SPBC so that we can take my case to Court have all the interaction , emails and Audio recording of my entire Loan Cycle as I need that to prove the case that these folks new very well what they where doing to me and many others.. I really have facts and I have really good Memory and documentations.
I can be reached much easier via Phone but will only provide once I receive an reply to this Reply and hopefully it is someone that is truly from the CFPB or this new Group Established by
Mr Frotman —————-.>>>SPBC Would be better since that’s exactly what they are involved in Student Loan Problems and Deceitful and Malicious an Deliberate
Thank you
A.D
Hi A.D.,
You should try contacting the SBPC directly via their website.