Jubilee USA

For Immediate Release

Organization Profile: 
Contact: 

Sophia Har, Communications Director
sophia@jubileeusa.org / (o) (202) 783-3566 x101 (m) (651) 815-1818

President Obama Introduces 'Student Aid Bill of Rights'

New rules protect Sstudents from Ppredatory behavior

WASHINGTON - President Obama signed by executive order a "Student Aid Bill of Rights." These reforms are meant to protect the average college student who graduates with $29,400 in student debt. The initiative includes new rules requiring third-party lenders to inform students of alternative repayment options and a new website where students can file complaints against lenders.

"These actions to protect students are a welcome step," said Eric LeCompte the executive director of the religious debt relief organization Jubilee USA Network. "Student debt in the United States surpasses $1 trillion."

Jubilee USA Network, founded by mainline Christian Churches and Jewish Synagogues, won over $130 billion in debt relief for poor economies since the late 1990s. The organization over the last 3 years has led successful campaigns with over 100 churches and synagogues to keep federal loan interest rates manageable.

"These new rules push back the predatory groups who seek to take advantage of our students," noted LeCompte. "The future of generations depends on responsible lending and borrowing."

Read more about Jubilee's work for student debt relief.

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Jubilee USA Network is an alliance of more than 75 US organizations and 650 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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