Last Chance: Tell Senators Financial Reform Must Cover Private Loans

Last week, we asked you to tell your senators to support amendments to the financial reform bill giving the new Consumer Financial Protection Bureau (CFPB) full authority over all private student loans. Otherwise, the largest lender - Sallie Mae -- and some of the riskiest loans might not even be subject to its oversight, leaving most consumers just as unprotected as they are now.

It's Time to Push for Bankruptcy Protection

It's Time to Push for Bankruptcy Protection

Last week, Senator Dick Durbin and Congressman Steve Cohen introduced legislation to make private student loans dischargeable in bankruptcy. Private student loans are more like credit cards than financial aid, but since 2005 they have been much harder to discharge in bankruptcy than other forms of consumer debt.

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