Student Loans

There is a growing drumbeat for President-elect Joe Biden to cancel some or all of the outstanding student loan debt in America, and proponents of that plan say it would be a boost for the economy should he do it. But a report released last week argues that canceling student …

A group of consumer advocacy organizations have published a guide to help individuals with student loans navigate their way through the COVID-19 pandemic and beyond, offering a “roadmap” to provide “substantial relief” to the 44 million individuals who have student loan debt. Among the ideas published in the guide are: …

A group of 238 state and federal consumer organizations have written a letter to President-elect Joe Biden and Vice President-elect Kamala Harris asking them to cancel all federal student debt on their first day in office. The groups, which include the National Consumer Law Center, the American Federation of Teachers, …

The Attorney General of Maryland has announced a settlement between his office and a third-party debt buyer that will result in $2.7 million of debt relief for individuals who attended a for-profit college that lost its accreditation, closed its doors, and had its assets sold by a court-appointed receiver. The …

The Department of Education has unveiled a new website aimed at helping individuals who are seeking debt relief after being defrauded by a college, but critics of the administration’s efforts say the changes are mostly cosmetic, according to a published report. The new website can be accessed by clicking here. …

Sen. Elizabeth Warren [D-Mass.], who it looks like will not get her wish of becoming the next Treasury Secretary, called on President-elect Joe Biden to cancel “billions” of dollars in outstanding student loans, saying it is the “single most effective executive action available for massive economic stimulus.” 1. Biden-Harris can …

The Attorney General of New Jersey yesterday filed a lawsuit against student loan servicing giant Navient, accusing the company of engaging in “unconscionable” practices, “deceptive” conduct, and making misrepresentations when collecting on loans owed by residents of The Garden State. A copy of the complaint can be accessed by clicking …

Sen. Chuck Schumer [D-N.Y.], and Sen. Elizabeth Warren [D-Mass.], have announced a resolution that aims to cancel $50,000 of student loan debt for all federal student loan borrowers. The resolution calls on President Trump “to take executive action” to forgive the debt as a means of helping individuals during the …

The Consumer Financial Protection Bureau, along with 48 attorneys general, have reached a settlement that will see the owner of $330 million in private student loans forgive all of that amount after being accused of engaging in unfair acts and practices in violation of the Consumer Financial Protection Act. A …

The Attorney General of New York has reached a settlement with Transworld Systems which will see the collector pay $600,000 in restitution to affected individuals and make changes to how it collects on student loans. A copy of the settlement agreement can be accessed by clicking here. The allegations centered …