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D.C. releases revised Bill of Rights for student loan borrowers

by Ballard Spahr LLP on

The District of Columbia Department of Insurance, Securities, and Banking (DISB) has released for comment a revised “Student Loan Borrower’s Bill of Rights.” ...more

Two Opportunities for Student Loan Companies to Speak Up

Two recent requests from lawmakers have provided student loan servicers and originators the opportunity to comment on hot-button issues for the industry: The CFPB issued a Request for Information last week, seeking...more

Under The Dome: Inside The Maine State House

by Pierce Atwood LLP on

Governor LePage Delivers State of the State Address - Governor LePage delivered his final State of the State address to the Legislature on Tuesday, February 13. The speech, which lasted nearly an hour and a half, focused...more

New York Attorney General Expresses Support for Student Loan Servicing Legislation

by Ballard Spahr LLP on

Earlier this week New York Attorney General Eric Schneiderman sent a letter to select state legislators adding his backing to the creation of a licensing regime in New York for student loan servicing, similar to what has been...more

White House Releases Fiscal Year 2019 Budget (Plus an Infrastructure Proposal)

Fiscal Year 2019 Budget - The White House has unveiled President Trump’s budget proposal for Fiscal Year 2019, entitled Efficient, Effective, Accountable: An American Budget. The Administration has worked for...more

Iowa Statehouse Report - Week 5

by Davis Brown Law Firm on

It was a shortened legislative week with legislators staying in their districts to participate and attend their local caucuses on Monday. As a result, while bills were introduced on Monday, there were no subcommittee meetings...more

Governor Baker Files FY2019 Budget

On Wednesday, January 24, 2018, Governor Charlie Baker released a $40.9 billion budget proposal for FY2019. The plan, commonly referred to as House 2, is the fourth Baker has proposed since assuming office and increases...more

Vietnamese higher education: Opportunities and challenges for foreign institutions

by Hogan Lovells on

The emerging education market in Vietnam is attracting interest from foreign higher education institutions and investors. Increasing disposable income, rapid urbanization, and rising living standards are driving local demand...more

The Retroactivity of TCPA Regulations and Amendments

by Cohen & Grigsby, P.C on

On December 13, 2017, the United States Court of Appeals for the Ninth Circuit ruled that a 2012 amendment to the Telephone Consumer Protection Act (“TCPA”) excluding liability for phone calls related to the collection of...more

Dept. of Education proposes disclosure of pre-dispute arbitration agreements by schools receiving Title IV aid for student...

by Ballard Spahr LLP on

The Department of Education, in an issue paper submitted as part of negotiated rulemaking on its final “borrower defense” rule, is proposing to require schools that use pre-dispute arbitration agreements and class action...more

Four-Term Governor Jerry Brown: One Last Budget

This week, California Governor Jerry Brown, beginning the final year of his unprecedented four terms as governor, unveiled his 16th and last state budget proposal, which projects a $6.1 billion surplus, mostly a result of...more

Department of Education Announces Award of Student Loan Collections Contracts: the Latest Chapter in a Long-Running Saga

by Hinshaw & Culbertson LLP on

The Headlines - After much anticipation, on January 11, 2018, the Department of Education filed its Notice of Completion of Corrective Action. The filing announced its hotly contested award of unrestricted contracts for...more

Collection of ITT student debt barred in class action settlement

by Ballard Spahr LLP on

The saga of ITT Educational Services, Inc. appears to be drawing closer to an end, with ITT’s bankruptcy trustee and attorneys for former ITT students entering into a proposed class action settlement that would permanently...more

Department of Justice: Massachusetts’s Claims Against PHEAA Preempted By Federal Law

by Ballard Spahr LLP on

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

Washington, D.C. Amends Student Loan Servicing Regulations

by Ballard Spahr LLP on

The District of Columbia Department of Insurance, Securities and Banking (DISB) has announced a change to the way it calculates a controversial annual assessment fee on student loan servicer licensees. ...more

CFPB releases report on college credit card agreements

by Ballard Spahr LLP on

The CFPB released its sixth annual report to Congress on college credit card agreements.  The annual report is mandated by the CARD Act. ...more

Two Courts Clear the Way for Bankruptcy Trustees to Avoid Tuition Payments Made by Parents on Behalf of Children as Fraudulent...

Two bankruptcy courts recently cleared the way for bankruptcy trustees to avoid college tuition payments made by debtor-parents on behalf of their children as fraudulent transfers, potentially affecting the college’s ability...more

The Impact of Tax Reform on Michigan Municipalities and School Districts

by Miller Canfield on

The U.S. House and Senate have approved the reconciled tax reform bill that was reported out of the House and Senate Conference Committee last week. The bill was passed on Dec. 20, 2017, and has been sent to the President for...more

U.S. Tax Reform – Key Highlights for Private Investment Funds in Tax Cuts and Jobs Act Bill

by Proskauer Rose LLP on

On Friday, December 15, 2017, the Congressional conference committee released a revised version of the Tax Cuts and Jobs Act (the "Tax Bill"). The Senate and the House are expected to vote on the Tax Bill this week. The Tax...more

Claw Back of Parent PLUS Loan Proceeds to Pay College Tuition Hits a Roadblock

by Shipman & Goodwin LLP on

Over the last few years, Chapter 7 trustees of the bankruptcy estates of parents that paid college tuition for their children in the years before their bankruptcy filings have actively pursued the recovery of those tuition...more

The Effect of Tax Reform on Michigan Charter Schools

by Miller Canfield on

Many recent press reports have warned of the negative affect tax reform could have on charter schools around the country. These reports focus on the proposed elimination of private activity bonds (“PABs”) under the House tax...more

Federal Circuit Partially Lifts Ban on Education Department’s Default Collection Efforts; Court of Federal Claims Orders...

by Ballard Spahr LLP on

The U.S. Court of Appeals for the Federal Circuit has partially lifted a preliminary injunction that prevented the U.S. Department of Education (Department) from placing defaulted student loans with private collection...more

Federal Reserve Settles with Pennsylvania Bank Over Alleged Deceptive Student Lending Practices

by Goodwin on

On December 6, 2016, the Federal Reserve Board announced that it entered into a consent order with a Pennsylvania bank ordering it to cease and desist deceptive student lending practices, and assessing millions of dollars in...more

Cybersecurity lapses could cost Title IV eligibility for higher ed

by Thompson Coburn LLP on

Data security breaches are an unfortunate reality for almost all businesses in today’s information-driven marketplace. From Target, to Home Depot, to Equifax, data breaches are increasingly common and potentially devastating...more

[Webinar] Borrower Defense Rule: Negotiated Rulemaking Session 1 - December 13th, 12:00pm CT

by Thompson Coburn LLP on

On November 13, 2017, the U.S Department of Education began the process of overhauling a complex and controversial Obama-era regulation commonly referred to as the “borrower defense” rule. During this process, which will...more

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