The American Prospect published an article yesterday about our Lawson-Ross Public Service Loan Forgiveness (“PSLF”) success in the 11th Circuit – which was very persuasively argued by Dan Zibel of National National Student Loan Defense Network.
Two quotes that should give student loan borrowers comfort and should give pause to servicers spewing false promises:
Yet, too often the loan servicers have every incentive to put their financial needs ahead of borrowers’ best interests. Servicers are paid a flat fee per loan in their portfolio, leading to chronic underinvestment in customer service. This dynamic leads the loan servicers to shunt students into less affordable plans or botch simple paperwork rather than take the time to get consumers into the right plans that best match their individual situations.
For student borrowers out there feeling hopeless, the Lawson-Ross ruling is a reminder that they have rights and protections available to them. For the companies misleading students, the court’s ruling should be a wake-up call: Where the federal government refuses to enforce consumer protection laws, states and consumer advocates are not only ready, but empowered to take action.
For anyone interested, here are links to the briefs and Amicus briefs filed in support by the American Federation of Teachers and the Veterans Education Success, the Retired Enlisted Assoc. & Ivy League Veterans Counsel. This was truly a team effort by Tampa class counsel, Katherine Yanes, Gus Centrone and Bryan Schrader on behalf of our class representatives, Dr. Amanda Lawson-Ross and Tristian Byrne.