Student Loans

There is a lot to unpack in today’s episode of “The Young and the Indebted” with the Secretary of Education, the chair of the House Financial Services Committee, and a former presidential candidate all making comments or taking action to address the issue of student loan debt forgiveness. Let’s begin …

A study that has been published in the American Journal of Preventive Medicine gives companies in the accounts receivable management industry that collect on student loan debt another arrow in their quiver to convince individuals to pay off their debts — if you don’t do it, you have a higher …

A group of eight state attorneys general have sent a letter to President Biden, urging him to cancel all outstanding federal student loan debt, while at the same time, an attorney who worked in the Department of Education under President Obama has written a memo, outlining why such a move …

A bill has been introduced in the Senate that would prohibit President Biden from canceling outstanding federal student loan obligations due to a national emergency while also ending the current moratorium on federal student loan payments. The bill, S.4094, the Stop Reckless Student Loan Actions Act, was introduced by Sen. …

The Department of Education yesterday announced it was canceling $238 million in unpaid student loans for 28,000 former beauty school students who were taken advantage of, while at the same time published reports indicate that President Biden is considering a broader cancelation of student loan debt. The office in charge …

The Department of Education yesterday announced a series of changes to “bring borrowers closer” to having their loans forgiven under a pair of programs, which also resulted in the immediate cancellation of student loan debts for 40,000 individuals. An additional 3.6 million individuals will receive at least three years of …

Student loan servicers are being called out by a number of Senate Democrats for their “mismanagement” of income-driven repayment programs while a bill has been introduced in the House of Representatives that would change the terms under which a borrower’s payments are calculated based on his or her income, not …

As expected, the federal government yesterday announced that it was extending the moratorium on making student loan payments for an additional four months — to August 31 — but added in an extra wrinkle that will impact those in the accounts receivable management industry: The 7 million borrowers who are …

The Court of Appeals for the Third Circuit has affirmed the dismissal of a Fair Debt Collection Practices Act case against a student loan servicer for continuing to attempt to collect a student loan debt after it had been discharged in bankruptcy because the plaintiff failed to follow the proper …

The Consumer Financial Protection Bureau on Thursday announced an enforcement action against a student loan servicing company, fining it $1 million for allegedly making deceptive statements to borrowers and misrepresenting the forgiveness and repayment options related to the Public Service Loan Forgiveness program. The action, taken against Edfinancial, comes a …