Groups call for private student loan reform – National Consumers League

April 21, 2010

Contact: (202) 835-3323,

Private student loans are one of the riskiest, most expensive ways to pay for college. Like credit cards, they typically have variable interest rates that are higher for those who can least afford them. However, private student loans are treated much more harshly in bankruptcy than credit cards and other comparable types of debt.

NCL, along with nearly two dozen organizations, have sent a letter to Steve Cohen, Chairman of the U.S. HouseSubcommittee on Commercial and Administrative Law, Committee on the Judiciary, offering strong support for the Private Student Loan Bankruptcy Fairness Act of 2010.

Click here to read the letter.