Press Release
EDCAP is Ready to Help New Yorkers Take Advantage of President’s Student Debt Relief Plan
The Community Service Society applauds President Biden’s three-part plan to help relieve the crushing burden of student loan debt. Through our Education Debt Consumer Assistance Program (EDCAP), we can help consumers navigate these new provisions, which can save borrowers thousands of dollars.
As documented in a recent CSS report, student loan debt impacts households across age, incomes and ethnic/racial groups. The hardships these borrowers face because of their debt make it difficult to build wealth, save for retirement, purchase a home, and improve their financial security. Since its launch in 2019, EDCAP has saved consumers in New York millions by helping borrowers apply for Public Service Loan Forgiveness (PSLF), get out of default, avoid wage garnishments and social security offsets, resolve disputes with loan servicers, access cancellation and relief programs, and much more.
These services will be needed even more as a result of the President’s plan, as borrowers navigate the complex loan debt system to make sure they are taking advantage of all of the options available to them, including loan forgiveness and discharge.