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Monday, June 1, 2020

130,000 Rhode Islanders owe $4.5+ billion in student loans

Treasurer Magaziner, Attorney General Neronha Launch New Website to Protect Student Loan Borrowers

Rhode Island General Treasurer Seth Magaziner and Attorney General Peter Neronha have launched studentloanrightsri.com, a new website designed to help student loan borrowers understand their rights and provide access to resources to protect those rights.

"Too many Rhode Islanders who have invested in their education are affected by negligent or deceptive practices by student loan servicers," said General Treasurer Seth Magaziner. 

"It is important for borrowers to know and exercise their rights under the new Student Loan Bill of Rights which gives the State tools to investigate borrower complaints and to hold servicers accountable for their actions."


"Our Office's consumer protection team has been helping borrowers with their student loan problems since the Student Loan Bill of Rights passed last year, with dedicated attorneys and staff who are responsible for investigating end and enforcing borrower rights," said Attorney General Peter Neronha.

"We have also increased our capacity in the consumer protection unit to help borrowers get the protections they deserve under the new Federal law. This new web site provides borrowers with information about their rights and, more importantly, allows them to file a complaint directly with our Office."

In 2019, Attorney General Peter Neronha and General Treasurer Seth Magaziner worked with Senator Dawn Euer and Representative Joseph McNamara to pass the Student Loan Bill of Rights, which provides student loan borrowers with important legal protections. The law gives the Attorney General the authority to enforce violations of the law and gives borrowers a place to go for assistance if they suspect they have been mistreated by their student loan servicer.

Student loan borrowers who have questions about their rights or the obligations of their servicers, or who believe they have been mistreated by their servicer, are encouraged to contact the Attorney General's Consumer Protection Unit at 401-274-4400 or by emailing studentloans@riag.ri.gov.

More than 130,000 Rhode Islanders owe more than $4.5 billion in student loan debt. The COVID-19 pandemic has compounded these challenges for those who were already struggling to keep up with their loan payments.

For more information, visit studentloanrightsri.com.