In an unsigned order dated August 9, 2024, the U.S. Court of Appeals for the Eighth Circuit signaled its frustration with the U.S. Department’s ongoing efforts to proceed with implementation of its much-debated SAVE repayment...more
Two federal judges recently said that the Education Department lacked the power to reduce or cancel federal student loans under the SAVE program; an appeals court subsequently lifted the injunction in one case....more
With federal student loans approaching $1.7 trillion, private student loans approaching $129 billion, strident consumer group advocacy, and national elections on the horizon, student loan origination and servicing continues...more
The White House signaled last week that, with the resumption of federal student loan payments, federal student loan servicers can expect to face increased scrutiny. The Department of Education issued a “Framework for Student...more
11/14/2023
/ Borrowers ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Department of Education ,
Federal Student Loans ,
Financial Institutions ,
Financial Services Industry ,
Forbearance Agreements ,
Lenders ,
Loans ,
New Guidance ,
Student Loan Servicers Regulation ,
Student Loans
Less than six weeks after the U.S. Supreme Court held that President Biden lacked authority to advance his signature effort to forgive upwards of $430 billion in federal student loans, a new challenge has been filed to other...more
8/10/2023
/ Article III ,
Biden Administration ,
Colleges ,
Consumer Financial Products ,
Department of Education ,
Financial Aid ,
Financial Services Industry ,
Loan Forgiveness ,
Public Service Loan Forgiveness program (PSLF program) ,
SCOTUS ,
Standing ,
Student Loans ,
Students ,
Universities
Last Friday, the U.S. Supreme Court ruled that the Biden Administration did not have the legal authority to proceed with its plan to forgive approximately $400 billion in federal student loans. After reviewing the background...more
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
After reviewing the existing types of federal student loans and forgiveness programs, we discuss the current political debate over forgiveness, including the Education Dept.’s upcoming analysis of the President’s forgiveness...more
The U.S. Court of Appeals for the Third Circuit ruled last week in Commonwealth of Pennsylvania v. Navient Corp. that the PA Attorney General could bring a parallel enforcement action against Navient, a servicer of federal...more
8/5/2020
/ Constitutional Challenges ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Education ,
Disclosure Requirements ,
Enforcement Actions ,
Federal Student Loans ,
Higher Education Act ,
Misrepresentation ,
Preemption ,
State Attorneys General ,
Student Loans ,
Unfair or Deceptive Trade Practices
On Monday, January 8, 2018, the United States Department of Justice weighed in with a Statement of Interest under 28 U.S.C. § 517 in a pending state-court action (No. 1784CV02682) brought by the Commonwealth of Massachusetts...more
1/10/2018
/ Consumer Financial Products ,
Consumer Protection Laws ,
Department of Education ,
Department of Justice (DOJ) ,
Federal Grants ,
Federal Student Loans ,
Financial Services Industry ,
Motion to Dismiss ,
Preemption ,
State and Local Government ,
Student Loans ,
Unfair or Deceptive Trade Practices