Cosponsor the Student Loan Transfers Disclosure Act (v. 3)

Earlier this year, the Consumer Financial Protection Bureau released a factsheet highlighting an issue among student loan borrowers regarding servicing company transfers. A borrower’s loan might be transferred from one student loan servicing company to another, possibly without notice to the borrower. Problems arise when the borrower, unaware of the transfer, submits their loan payments to the wrong servicer, which can then lead to added late fees.

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Cosponsor the Student Loan Payment Optimization Act

Over 40 million Americans currently hold $1.2 trillion in student loan debt. Almost 70% of graduates leave school with student loan debt, and the average amount borrowed has increased 56% between 2004 and 2014. Close to 7 million borrowers are in default, and 17% of federal student loan borrowers are in some form of delinquency.

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CALL FOR ORIGINALS: Right to Rent Act

While we have made great strides since the foreclosure crisis, steps must be taken to ensure families are protected in future or ongoing hard times. TheRight to Rent Act (HR. 2580 – 113th) is an alternative to having underwater homes vacated when homeowners are faced with foreclosure; instead it provides relief by allowing middle-income homeowners to stay in their homes at a fair market rent.

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Cosponsor the Student Loan Transfers Disclosure Act (v. 2)

Earlier this year, the Consumer Financial Protection Bureau released a factsheet highlighting an issue among student loan borrowers regarding servicing company transfers. A borrower’s loan might be transferred from one student loan servicing company to another, possibly without notice to the borrower. Problems arise when the borrower, unaware of the transfer, submits their loan payments to the wrong servicer, which can then lead to added late fees.

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H.R. 4172: Build Credit Scores without Debt (v. 2)

People who lack credit scores face significant economic harm. Lenders typically extend credit to those who already have it. Those with insufficient or no credit history are considered high risk, and their loan applications are often rejected. They also pay higher rates for car and renters’ insurance, cell phone and utility deposits and may have barriers to employment.

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