In the last several days, the U.S. Department of Education (ED) finally published three important updates on ED expectations under its extensive October 2023 Financial Value Transparency and Gainful Employment regulations...more
4/10/2024
/ Certifications ,
Dear Colleague Letter ,
Department of Education ,
FAFSA ,
Federal Student Aid ,
Financial Responsibility Standards ,
Higher Education Act ,
Regulatory Requirements ,
Students ,
Teachers ,
Title IV
Effective July 1, 2024, institutions of higher education participating in Title IV Federal Student Aid programs must comply with the U.S. Department of Education’s (Department) Financial Value Transparency and Gainful...more
2/8/2024
/ Department of Education ,
Education Expenses ,
Educational Institutions ,
Final Rules ,
Gainful Employment ,
Higher Education Act ,
Program Participation Agreements (PPAs) ,
Reporting Requirements ,
Threshold Requirements ,
Title IV ,
Transparency
Building on the Consumer Financial Protection Bureau’s (CFPB’s) September 2022 Supervisory Highlights on student loan servicing (questioning transcript withholding practices), the CFPB issued a September 2023 report on...more
On July 20, 2023, the CFPB published a report concerning the risks posed to consumers by employer-driven debt. Employer-driven debt is any form of financing arrangement where an employer extends credit or a lease to an...more
9/26/2023
/ Consumer Financial Protection Bureau (CFPB) ,
Debt ,
Debt Collectors ,
Employee Training ,
Employment Contract ,
Healthcare ,
Repayment Options ,
Student Loans ,
Third-Party ,
Transportation Industry ,
Wage Deductions
On Monday, the U.S. Court of Appeals for the Fifth Circuit issued a nationwide injunction blocking the U.S. Department of Education (ED) from implementing its new borrower defense to repayment (BDR) rules. The BDR rules,...more
UPDATE: On April 11, the Department of Education (Department) published a blog post updating the latest Third-Party Services (TPS) Dear Colleague Letter (DCL) which was published on February 15, 2023 (updated February 28,...more
On Thursday, the Department of Education announced that, in certain circumstances, it will require leaders of institutions to assume personal liability as a condition of Title IV Federal Student Aid participation....more
UPDATE: On February 28, 2023, the Department updated the Dear Colleague Letter issued February 15, 2023 to establish a future effective date for the guidance, extend the public comment period, and extend the reporting...more
Wednesday’s U.S. Department of Education Dear Colleague Letter announces an expanded Department interpretation of the definition of Third-Party Servicer to include a new array of vendors providing student recruiting and...more
2/20/2023
/ Colleges ,
Data Privacy ,
Dear Colleague Letter ,
Department of Education ,
FOIA ,
Inspector General ,
Recruitment Policies ,
Reporting Requirements ,
Student Loans ,
Third-Party Service Provider ,
Title IV ,
Universities
On February 1, 2023, the Consumer Financial Protection Bureau (CFPB) published a proposed rule that, if implemented, would require most nonbanks subject to the CFPB’s supervisory authority, with limited exceptions, to submit...more