Support Student Borrowers’ Rights

Federal Student Loan Consumers Are Entitled to Comprehensive Debt Management

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For Legislators

• Education Debt Management Works
• Legislation to Evolve the Guarantor
• Financial Counseling and Degree Attainment
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For Legislators

At a time of fiscal constraint, Congress must do whatever it can to spend federal money wisely, and save money where possible. The NASLA guarantors are seeking an evolved role for the guarantor in the federal student loan program. Under the proposal, $3 in federal funding per borrower per month would save almost $53 billion in prevented student loan defaults. It would also transform our federal student loan program into a true “teachable moment” that provides students and their families with assistance and advice on key financial literacy and financial aid information throughout their higher education experience—debt management skills that can be applied to the lifetime of consumer decisions awaiting every college graduate.

We ask Congress to affirm its commitment to making borrower support central to the mission of the federal student loan program. After all, if we as a nation encourage students to take on debt to complete their higher education, we have an obligation to support their efforts to manage and repay that debt.

We can all agree that the federal student loan program needs reform. But don’t let dissatisfaction with the current system cloud your view of the best model going forward. Eliminating the Federal Family Education Loan Program should not mean eliminating our commitment to higher education borrowers and their families. It’s not about the status quo, it’s about the students.

Loans Get Students Through College. Support Reform that Gets Them Through Their Loans.