State launches network to help Californians navigate student loan debt
On June 3, 2024, the California Department of Financial Protection and Innovation (DFPI) announced the launch of the Student Loan Empowerment Network (SLE Network), a network of community-based and legal aid organizations that will provide free assistance to Californians struggling to understand and pay off their student loan debts.
The DFPI's mission is to protect consumers, regulate financial services, and foster responsible innovation.
The SLE network connects Californians with current student loans to organizations that can assist in helping them understand student loans, obtaining legal aid, and putting them on a path toward economic economic mobility.
DFPI Commissioner Clothilde V. Hewlett comments on the launch, saying “The Student Loan Empowerment Network will help Californians understand their student loan debt
and, in some cases, break the cycle of debt that many borrowers are facing. At the DFPI it is our goal to empower all Californians to take control of their financial outlook through resources and education, and the Student Loan Empowerment Network is a shining example of working toward that goal.”
All California residents with any amount of current student loan debt are eligible to access the resources provided through the network. After filling out an intake form, borrowers will be connected to a network coordinator who will refer them to a SLE Network organization based on their assistance concerns and location.
The Student Loan Network is composed of the DFPI and 13 California non-profits, with 7 financial counseling agencies and 6 legal aid agencies. The list includes:
- BALANCE
- National Consumer Law Center
- MyPath
- East Bay Community Law Center
- International Rescue Committee (IRC) in Sacramento
- The Cambodian Family
- Koreatown Youth & Community Center
- Lutheran Social Services of Southern California
- Housing and Economic Rights Advocates (HERA)
- Bay Area Legal Aid
- Legal Aid Foundation of Los Angeles
- Legal Aid Society of San Bernardino
- Legal Aid of San Diego
- Public Counsel
In January of this year, the DFPI awarded $7.25 million in grants to 14 organizations throughout California to offer legal aid support to the more than four million California residents who in total, carried more than $148 billion in student loan debt (the largest in the nation).
To fill out the intake form for the SLE network, or for additional information, visit studentloanhelp.dfpi.ca.gov or call (888) 774-2227.
