Lawsuit: CFPB Ignores Mismanagement of Public Student Loan Forgiveness Program

Chris Arnold of National Public Radio provided the latest details Nov. 25 on a lawsuit filed by the nonprofit student loan group, Student Debt Crisis, against the Consumer Financial Protection Agency Bureau (CFPB): “The lawsuit…alleges that the Consumer Financial Protection Bureau has abandoned its obligation to oversee companies that manage student loans, in particular a troubled loan forgiveness program.” Natalia Abrams, the founder of the Student Debt Crisis said: “We are suing the Department of Education and the CFPB because they are not doing their jobs.” Abrams continued, “Over the past year, I have spoken with hundreds of borrowers, sometimes multiple borrowers, every single day and had to break their hearts” because “they’ve fallen victim to problems with the Public Service Loan Forgiveness program.” Alex Sands, Assistant Director of the American Veterinary Medical Association (AVMA) Government Relations Division, asks for veterinarians who have been affected by the Public Service Loan Forgiveness program to share their story here. Sands also encourages veterinary students and veterinarians to visit the AVMA site to sign up for updates and get involved in advocacy efforts on this issue. The AVMA leads the Veterinary Debt Initiative with the Association of American Veterinary Medical Colleges and the Veterinary Medical Association Executives.