News & Analysis as of

Student Loans Federal Student Aid

Orrick, Herrington & Sutcliffe LLP

DOE moves to empower student loan oversight for better borrower support

On November 9, the DOE announced it is outlining a framework for how it will increase borrower support and ensure student loan servicers are accountable for errors. Richard Cordray, Federal Student Aid (FSA) Chief Operating...more

Cozen O'Connor

AG Coalition Calls for Stronger Protections for Student Loan Borrowers

Cozen O'Connor on

In a letter to Secretary of Education Miguel Cardona and Department of Education (ED) Analyst Brian Schelling, a coalition of AGs from twenty states and the District of Columbia submitted comments on ED’s proposed rulemaking...more

Ballard Spahr LLP

Department of Education announces major revisions to IDR payment counting

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On April 19, one day before the release of a highly critical performance audit by the U.S. Government Accountability Office, the Department of Education (ED) announced a series of actions it is taking to “address[] historical...more

Husch Blackwell LLP

College and University Institutional Loans under the CFPB Microscope

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On January 20, 2022, the Consumer Financial Protection Bureau (CFPB) announced new efforts to examine postsecondary schools’ institutional lending programs. Many colleges and universities offer in-house student loans,...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 2, Issue 21

Bankruptcies Trending Down in West Virginia, but for How Long? "Then from June 2020 to June 2021, in the heart of the pandemic, those numbers dropped even more." Why this is important: From 2016 to 2019, there was an...more

Morgan Lewis - All Things FinReg

US Secretary of Education Implements Presidential Memorandum for Student Loan Payment Relief

As we discussed in a prior LawFlash, US President Donald Trump signed four executive actions that purportedly extend various aid measures for individuals impacted by the coronavirus (COVID-19) pandemic on August 8. One of...more

Ballard Spahr LLP

Dept. of Education implements Presidential memorandum continuing federal student loan relief during pandemic

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At the end of last week, the Department of Education announced that Education Secretary Betsy DeVos has directed Federal Student Aid (FSA) to extend until December 31, 2020 the relief that was provided to federal student loan...more

Holland & Knight LLP

Education Dept. Confirms Requirements to Report Litigation, Settlements, Specified Liabilities

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• Recently released guidance from the U.S. Department of Education's Office of Federal Student Aid (FSA) confirms that both private and public institutions of higher education must report litigation, settlements and other...more

Husch Blackwell LLP

May 14 Deadline: Borrower Defense Reporting – Short Answers To Your Questions

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Help! Do we have to report every pending lawsuit to the U.S. Department of Education by May 14? No. But, under newly effective regulations and guidance, (private and maybe public) institutions of higher education must...more

Robinson+Cole Data Privacy + Security Insider

IRS to Notify 100,000 Taxpayers That Their Information May Have Been Obtained Through Misuse of FAFSA Retrieval Tool

On Thursday, Internal Revenue Service (“IRS”) Commissioner John Koskinen testified that the personal data of up to a 100,000 taxpayers could have been compromised as a result of criminal use of the Free Application for...more

Robinson+Cole Data Privacy + Security Insider

FAFSA Data Retrieval Tool Remains Down Over Security Concerns

Last week, the Internal Revenue Service (IRS) and Federal Student Aid (FSA) announced that the Data Retrieval Tool (DRT) on fafsa.gov and StudentLoans.gov will be unavailable until extra security protections could be added....more

Ballard Spahr LLP

Student loan complaint update highlights IDR plan application issues

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The CFPB’s Student Loan Ombudsman has released a new “Mid-year update on student loan complaints” that highlights issues related to income-driven repayment plan (IDR) application issues. The update covers complaints...more

Foley & Lardner LLP

Student Aid Enforcement Unit Formed To Protect Students, Borrowers, And Taxpayers

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On February 8, 2016, the Obama Administration’s Department of Education announced the creation of a Student Aid Enforcement Unit to respond more quickly and efficiently to allegations of illegal actions by institutes of...more

BakerHostetler

U.S. Department of Education Turns Eye to Regulating Financial Services Industry

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On October 27, 2015, the United States Department of Education issued 433 pages of new regulations governing student loan programs under the Student Assistance General Provisions regulations promulgated under the Higher...more

Ballard Spahr LLP

CFPB, DOE, Treasury Issue Joint Statement on Student Loan Servicing

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A new Joint Statement issued by the Consumer Financial Protection Bureau, Department of Education, and Department of the Treasury presents a framework to standardize student loan servicing practices across the various federal...more

Ballard Spahr LLP

White House Issues Student Aid Bill of Rights

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A Presidential Memorandum titled the "Student Aid Bill of Rights," issued last week by President Obama, calls for the creation of a new complaint system for federal student loans. This proposal is likely to result in...more

Ballard Spahr LLP

DOE rulemaking on student aid disbursement reported to be stalled

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As we reported last month, the Department of Education (DOE), with active CFPB participation, is currently engaged in a negotiated rulemaking process that is considering, among other things, revisions to the DOE’s Title IV’s...more

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