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This current year, we’ve seen lawmakers in states around the world need accountability through the private-sector education loan businesses that handle loans for over 44 million People in america. These breakdowns consist of lost paperwork and shoddy record-keeping when loans are transferred between companies—a process that features affected significantly more than 10 million education loan borrowers within the past ten years.
No longer damage borrowers’ credit, increase interest charges, and jeopardize progress toward and eligibility for a range of loan forgiveness and debt cancellation options in California, we are working with lawmakers and advocates to advance legislation that includes strong new standards to protect borrowers when loans are transferred between companies, ensuring breakdowns.
The Trump management has raised the stakes for tens of an incredible number of borrowers, pulling down prepared customer defenses while advancing a sweeping new proposition that can cause significantly more than 37 million borrowers’ loans to improve businesses into the coming years.
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