News & Analysis as of

Students Debt

Ballard Spahr LLP

FTC Orders Career Training Company to Pay $43.5 Million for Luring Students With Deceptive Ads

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Career Step LLC, an online career training company has been ordered to pay $43.5 million in cash and debt cancellation to resolve FTC charges that the company “lured consumers, specifically servicemembers and their families,...more

Orrick, Herrington & Sutcliffe LLP

Plaintiffs file suit challenging Biden’s latest student debt relief plan

On August 4, two nonprofit entities filed a lawsuit against the federal government aimed at blocking the Biden administration’s recent effort to provide debt relief to student borrowers. The administration’s efforts were...more

Woodruff Sawyer

How to Attract and Retain Employees with Student Debt Benefits

Woodruff Sawyer on

One in five US adults has student debt, with the greatest amount owed by those 35 to 49 years old. This debt reaches beyond the topic of repayment. Of the 45 million Americans with student debt, eight in ten don’t save...more

Patterson Belknap Webb & Tyler LLP

The State of Student Loan Debt in Bankruptcy

On June 30, the Supreme Court ruled that the Biden administration did not have authority to forgive student loans under the Higher Education Relief Opportunities for Students Act of 2003 (HEROES Act). Despite this defeat,...more

Spilman Thomas & Battle, PLLC

The Academic Advisor - Education Law Insights, Issue 5, May 2023

Summer is Coming: Are Youth Camps Part of Your Clery Compliance Program? “Regarding compliance and safety, many institutions have youth protection policies that camps must follow.” Why this is important: The Jeanne...more

Patterson Belknap Webb & Tyler LLP

Maryland Court Discharges Student Debt

As we reported, on June 21, 2021, the U.S. Supreme Court declined to revisit the rigid Brunner standard for determining “undue hardship” capable of discharging student debt.  The same day, United States Bankruptcy Judge...more

Hinshaw & Culbertson LLP

An Emerging Trend in Favor of Student Loan Discharges in Bankruptcy

We recently reported on a Fifth Circuit decision that ruled some private, for-profit student loans are dischargeable in bankruptcy without a showing of undue hardship—something unusual and inconsistent with the widely-held...more

Ballard Spahr LLP

NYDFS creates Student Debt Advisory Board

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The New York Department of Financial Services (NYDFS) has announced the creation of a Student Debt Advisory Board to advise on consumer protection, student financial products or services, and communities that have been...more

Farrell Fritz, P.C.

Employer-Related Scholarships & The Closely Held Business

Farrell Fritz, P.C. on

Education Equals Indebtedness? We’re more than halfway through the month of August and many college students are returning to their campuses where they will resume their studies. It should be a time of great expectation...more

Hogan Lovells

Income share agreements – what university general counsel ought to know

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Amid widespread concern about student debt and calls for higher education institutions to put more "skin in the game," some have looked to income share agreements (ISAs) as part of the solution. ...more

Foley & Lardner LLP

A New Way to Use Your 401(k) Plan to Attract and Retain Recent Graduates

Foley & Lardner LLP on

According to a recent report, the average student loan debt for a Class of 2016 graduate is $37,172. As recent graduates enter the work force, they often choose not to contribute to their employers’ 401(k) plans and lose out...more

Sullivan & Worcester

Student Loan Debt and 401(k) Plan

Sullivan & Worcester on

A new ruling was released last Friday by the Internal Revenue Service that presents a very intriguing possibility for employers looking to economically support employees with student debt burdens. The idea is that an employee...more

Holland & Hart LLP

Mixing Student Loan Assistance and 401(k) Plans

Holland & Hart LLP on

Student Loan Assistance and 401(k) Plans – Oil and water. These two benefits have not mixed well due to the complex tax rules governing 401(k) plans. In a welcome ruling (PLR 201833012), the IRS approved a taxpayer's plan to...more

Bradley Arant Boult Cummings LLP

IRS Approves the Use of a 401(k) Plan to Help Tackle Student Loan Debt - Employee Benefits Alert

The Internal Revenue Service (IRS) has issued a private letter ruling approving of an employer’s program to provide employees a retirement plan contribution conditioned on student loan repayments. Specifically, the IRS found...more

Hinshaw & Culbertson LLP

Labor & Employment Newsletter - March 2018: Employer-Assisted Student Loan Repayment Programs: A Possible Solution to a Growing...

Even casual observers of today's news know the problem of student debt in America is significant and growing. There is currently more than $1.5 trillion in student loan debt owed by American workers, and default rates have...more

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