Senator Lesser Applauds New Jersey State Loan Financing Authority for Leaving National Lobbying Group
SPRINGFIELD — Following the announcement today that the New Jersey Higher Education Student Assistance Authority has cut ties with the National Council of Higher Education Resources (NCHER), a lobbying group for student loan servicers, Senator Eric P. Lesser issued the following statement: “I am glad that the New Jersey Higher Education Student Assistance Authority is the latest state student loan agency, after Massachusetts’, to cut ties with NCHER, which is helping President Trump and Education Secretary Betsy DeVos as they gut protections for student loan borrowers. Membership in NCHER is not in the best interests of student borrowers, and no arm of state government should be involved in lobbying against that very state’s efforts to pass common-sense student loan protections. I hope other states join ranks with Massachusetts and New Jersey and take a stand in support of student borrowers.”
On March 28, Senator Lesser sent a letter, co-signed by 48 House and Senate colleagues, to the Massachusetts Educational Financing Authority (MEFA) requesting an explanation for their membership in NCHER.
The next day, MEFA withdrew its membership from NCHER, which has been lobbying a receptive federal Department of Education to preempt state laws regulating the student loan servicers.
At the time, Senator Lesser said, “MEFA made the right decision by leaving NCHER, and I hope it leads to other states’ loan financing agencies — from Maine to Michigan to New Jersey to Pennsylvania — leaving this lobby group as well.”