Student Loans

More than 44% of individuals with student loan debt have not made any payments since last March, according to the results of a poll released on Friday. About 22% of the individuals who participated in the poll said they had some form of student loan debt, with most of the …

A group of 17 state Attorneys General have written a letter to Congress endorsing a plan that would cancel $50,000 of student loan debt for all federal student loan borrowers. The letter, written by the AGs of Massachusetts, New York, Connecticut, Delaware, the District of Columbia, Hawaii, Illinois, Maryland, Minnesota, …

Legislators in Colorado are moving forward with a bill aimed at overhauling student loan collection in the state, which, if enacted would create several conflicts with the Colorado Fair Debt Collection Practices Act for debt collectors. A copy of the bill, the Colorado Student Loan Equity Act, SB21-057, can be …

The Attorney General of Massachusetts has announced a “first-of-its-kind” settlement with a student loan servicer that had been sued for allegedly engaging in unfair and deceptive practices that will require it to audit all 200,000 of its accounts in the state to determine if an error or misrepresentation was made …

A bill is moving through the legislature in Ohio that would halt the collection of all debts owed to any state college or university and any hospital operated by a college or university while also pausing the accrual of interest and collection fees on those debts. The bill was introduced …

A bill is circulating around the Colorado legislature that would dramatically overhaul how student loans are collected in the state, removing an exemption for licensed collection agencies while also imposing new disclosure requirements and imposing extensive civil liability exposure for those found to violate the provisions of the bill, should …

The California Department of Financial Protection and Innovation has announced an investigation into student loan debt relief companies while also announcing its first enforcement action, against a company accused of taking money from individuals while misrepresenting that it could have their student loans dismissed. The enforcement action against Optima Associates …

A quintet of Senate Democrats have introduced a bill that aims to make it easier for consumers to have student loans and medical debts discharged when filing for bankruptcy protection. The Medical Bankruptcy Fairness Act of 2021, S.146, was introduced by Sen. Sheldon Whitehouse [D-R.I.], Sen. Sherrod Brown [D-Ohio], Sen. …

There is growing sentiment within Congress, the Biden administration, and the general public for some or all of existing student loan debt to be wiped out, according to a published report and the results of a recently released poll. Nearly two-thirds of respondents to a poll indicated they were in …

President Joe Biden wasted no time getting to work after his inauguration yesterday, signing a number of executive orders, including at least one that will impact the accounts receivable management industry. The newly sworn in president signed 15 executive actions yesterday, making changes to policies enacted by former President Donald …