Student Loans

Ed. Dept. Cancels $500M in Loans for Scammed Students

The Department of Education announced yesterday that is canceling the student loan debts for 18,000 individuals who were scammed by a defunct for-profit college. The total amount of the loans being forgiven is about $500 million. The students in question attended ITT Technical Institute, which collapsed in 2016 after it …

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Cordray Signs Off on Policy Making it Easier for Student Loan Companies, Collectors to be Investigated

Richard Cordray, the new head of the federal government’s student loan program, on Friday announced that the Education Department was reversing a policy that was put in place during the Trump Administration which blocked state and federal regulators from accessing records needed to investigate student loan lenders, servicers, and private …

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Cordray Tapped to Run Federal Student Loan Program

A familiar name is coming back to help regulate the accounts receivable management industry. Yesterday, it was announced that Richard Cordray — the former director of the Consumer Financial Protection Bureau — has been hired as the Chief Operating Office of the Department of Education’s Federal Student Aid, which oversees …

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