FREQUENTLY ASKED QUESTIONS
Why Does California Need a Borrower Bill of Rights?
More than 3 million California borrowers owe $141 billion (and growing) in student debt. These borrowers deserve the same protections offered to people with other types of debt, same as those who buy a house or use a credit card. Currently, that’s not the case.
Student loan servicers exploit the lack of government oversight and clear, enforceable borrower protections to line their own pockets at the expense of millions of Californians trying to achieve the American dream.
Is Anything Being Done to Protect California Student Loan Borrowers Now?
In 2019, the California Assembly announced a new “Select Committee on Student Debt,” making California the first state in the nation to stand up a legislative committee focused on the problems facing millions of borrowers struggling under the weight of historic student debt.
California continues to lead the nation in the fight to protect borrowers, as officials take action to stamp out illegal practices by the largest student loan companies, and demand accountability from the student loan industry.
Who Supports a California Borrower Bill of Rights?
More than a dozen local and national organizations representing students, workers, consumers, older Americans, communities of color and veterans are fighting for California to adopt a Borrower Bill of Rights.