Student Loans

The Consumer Financial Protection Bureau yesterday released a bulletin warning companies to go back and look at money it collected from individuals with student loans to make sure they were not collecting money for loans that had been properly discharged during bankruptcy proceedings, and if it had collected on those …

Candidly, a platform that aims to help individuals pay off their student loans while saving and building wealth at the same time, yesterday announced it had raised $20.5 million in a Series B round of financing. The company says it partners with employers, retirement recordkeepers, and financial services companies to …

The Department of Education yesterday announced a proposed rule that aims to lower the student loan payments being made by those with student loan debt, while completely pausing payments for individuals who make less than $30,600 per year. A copy of the proposed rulemaking can be accessed by clicking here. …

The Department of Education continued to garnish wages of individuals with defaulted student loans long after a moratorium on collections was put in place in March 2020 at the onset of the COVID-19 pandemic, according to a report released by a student loan advocacy group. The Student Borrower Protection Center, …

Individuals with student loans will be able to avoid facing collection attempts for one year once the moratorium on making student loan payments ends, according to guidance released by the Department of Education’s Federal Student Aid office last week. Back in April, the Education Department announced the creation of a …

The Supreme Court yesterday agreed to hear arguments this term in a lawsuit over the Biden administrations plan to cancel up to $20,000 of student loan debt, while another appeals court issued a ruling upheld a lower court’s decision to temporarily halt the program, after 26 million individuals had applied …

The Biden Administration yesterday announced it was extending the moratorium on student loan payments until 60 days after litigation surrounding the plan to forgive up to $20,000 in unpaid student loans is resolved. If the litigation has not been resolved by June 30 of next year, payments will resume 60 …

A District Court judge in Texas yesterday granted summary judgment in favor of plaintiffs who sued the federal government seeking to block a program that would cancel up to $20,000 of student loan debt for individuals making less than $125,000 annually, ruling that the Biden Administration overstepped its authority when …

Individuals with student loans that had their payments paused during the pandemic are now falling behind on other credit products, according to data released this week by the Consumer Financial Protection Bureau. More than 7% of student loan borrowers who were not in default at the start of the pandemic …

Nearly 22 million individuals applied for the federal government’s student loan forgiveness program in its first week of operation, President Biden said on Friday, the same day that the Court of Appeals for the Eighth Circuit temporarily stopped the program from going into effect, following a lawsuit that was filed …