‘Student Loan Bill of Rights’ will protect Maine students from predatory lenders

“This bill will prevent giant financial corporations from padding their bottom lines by preying on Mainers who just want to responsibly pay down their student debt,” Maine Center for Economic Policy (MECEP) associate director Jody Harris said in a statement.

Mainers owe $6 billion in student debt, according to MECEP, money they note is not going back into the local economy, being used to purchase homes, or set aside for retirement. An analysis by the organization last year found that without their debt, Maine borrowers could support an additional 6,000 jobs and as much as $750 million in consumer spending.

Click here to read the full story, first published on June 11, 2019, in Beacon.