Since publishing Student Loan Solution, I’ve received many questions about student loans. Most of these questions focus on technical aspects of student loans or what repayment strategy makes the most sense.
But one question I received was a bit different. Someone asked:
How can student loan borrowers advocate for themselves?
I’m a big believer in advocacy. Social media has taught us that the best way to get a politician, a media organization, a company, or any other person or organization to give their attention to an issue is by getting the issue in front of them. But the only way to do that is through deliberate action. This is time consuming, or expensive (a big reason there is so much money poured into lobbying efforts).
I already knew what a big issue student loan debt was prior to researching and writing my book. But through the research process I gained an even greater respect for just how big the issue is, how many borrowers were struggling, and how complex student loan and higher education policy is.
Public Service Loan Forgiveness stood out to me. People pursuing it are worried. Worried that the program may go away. Worried they are doing something wrong.
And some of this anxiety is warranted. There are many complaints that student loan servicers gave misleading, or straight-up incorrect, information about Public Service Loan Forgiveness. Many who thought they were on the path to Public Service Loan Forgiveness had the wrongs type of loans or repayment plan. In some cases loan servicers reportedly led them to believe they were on their way.
This leads me to my first and most basic way that student loan borrowers can advocate for themselves: understand student loans.
Understand Student Loans, Repayment Options, and Loan Forgiveness Opportunities
It’s not sexy, but putting in the time and energy to understand student loans inside and out is extremely beneficial for student loan borrowers. Not only does this benefit student loan borrowers because they can feel confident about their repayment strategy, it’s also difficult to advocate for an issue without understanding it.
That means understanding the different types of student loans (and why that matters), the different repayment options, and opportunities for loan forgiveness. It also means understanding things like what to do if you are behind on your loans, what your rights are as a student loan borrower, and what things like consolidation and refinance mean (and the implications of each).
I wrote Student Loan Solution with this in mind. I wanted student loan borrowers to feel empowered with knowledge on student loans, and confident that they are pursuing the best student loan repayment strategy. I also want them to understand how this ties into their greater financial life.
My book is certainly not the only resource on student loan debt. There is a ton of information available on the Federal Student Aid website (an office of The Department of Education). I also have many blog posts published on student loans.
Regardless of how you learn about student loans, it’s a key first step in being able to advocate for yourself as a student loan borrower. The next step you can take is to learn about what sort of policy could impact student loans. For example, how likely is it that Trump’s proposal to get rid of Public Service Loan Forgiveness actually becomes law? If you are engaged in the policy discussions you would know that it’s unlikely to pass, and if it did pass it would almost certainly be grandfathered in (meaning those who already have loans would still have access to Public Service Loan Forgiveness). But most don’t know this because it takes time and energy to understand policy and stay engaged.
Which leads me to my next suggestion…
Get Plugged in with an Advocacy Organization
The reason why Public Service Loan Forgiveness is unlikely to be eliminated is directly tied to advocacy. Student loan borrowers and advocacy organizations have been vocal about the importance of protecting Public Service Loan Forgiveness. If only a handful of people expressed their opinions on this it may fall on deaf ears; that’s not the case when thousands are speaking up.
One organization I have been following closely is Student Debt Crisis. Here’s a quick description from their website:
Student Debt Crisis is a non-profit (501c4) organization dedicated to fundamentally reforming student debt and higher education loan policies. Student Debt Crisis (SDC) takes a personal approach to member needs—working directly with borrowers to understand their challenges and fears, repayment obstacles and frustrations. SDC tackles the challenges of loan refinancing and consumer protection policies with media and legislators, as well as educating borrowers and higher education experts with lectures, webinars and special events.
You can read more about them here. I’ve seen organizations like Student Debt Crisis react quickly to threats to Public Service Loan Forgiveness and show support for expanding loan forgiveness.
You don’t have to agree with everything an organization does to support them. For example, Student Debt Crisis is very liberal. I’m fiscally conservative so I naturally won’t align with everything they advocate. With that being said, I think they do important work and it’s extremely important this issue is on the minds of lawmakers.
Post about it on Social Media
I can already picture people groaning at the suggestion they post about student loan debt on social media. After all isn’t there enough noise on social media?
As an author and blogger I can assure you that every social media mention matters. For example LinkedIn’s algorithm is greatly influenced by likes and comments. The difference in view count for a post that has one like versus thirty likes is massive.
Whether it’s liking or re-posting content from an advocacy organization, or even sharing articles that focus on student loan debt, each social media action does make an impact.
Contact your Congressional Members
A few weeks ago I watched a Senate hearing where Department of Education Secretary Betsy Devos was being questioned. (I know what you are thinking – thrilling content!). What stood out to me was when Senators brought up the people within their states who were relying on things like Public Service Loan Forgiveness, closed school discharge, and other programs that were put in place to protect student loan borrowers.
Nearly one million borrowers have made at least one qualifying payment towards Public Service Loan Forgiveness. Millions more qualify. If each of those borrowers who were pursuing Public Service Loan Forgiveness sent a quick email or letter to their Senators and Representatives, it would make a big difference.
Just like voting, it’s easy to think “nothing I do will make a difference.” But this mindset is a self-fulfilling prophecy; if everyone thinks that way then no one would do anything. But if you take the ten minutes to actually do something – even if it’s just an email or a tweet – you can be part of the difference.
I’ll close by saying doing something, anything, is better than nothing.
Student loans can be overwhelming and even painful to confront. That’s why 8 million borrowers are in default. That’s also why the first step is confronting your debt. The second step is understanding your loans, repayment options, and opportunities for loan forgiveness. From there you can take simple actions like getting plugged into an advocacy organization and reaching out to your representatives.
Take action today!
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