Consumer Finance Monitor Podcast Episode: Recent Developments Affecting Student Loan Origination and Servicing
PODCAST: Williams Mullen's Gavels & Gowns - Responding to Borrower Defense to Repayment Applications
Consumer Finance Monitor Podcast Episode: The U.S. Supreme Court’s Decision Invalidating the Biden Administration’s Student Loan Forgiveness Plan and its Potential Legal Repercussions
A Deep Dive into the Debate Over Federal Student Loan Forgiveness
Compliance Perspectives: Changes to Title IX
New Title IX Regulations: A Seismic Shift During a Pandemic (Webinar Recording)
Investigating Sexual Misconduct in High Education: Potential Pitfalls During Title IX Investigations and How to Avoid Them
Congressman: My Plan Would Reduce Student Loan Defaults: Video
On April 17, 2024, the Biden administration published a proposed rule that would amend current regulations to allow for certain student loan debts to be waived, potentially providing relief to millions of student loan...more
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
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
The U.S. Department of Education (Department) issued final rules on Oct. 24, 2023, imposing new conditions that higher education institutions must satisfy to participate in federal student aid programs under Title IV of the...more
The Biden-Harris Administration on Oct. 24, 2023, issued final rules detailing important obligations for higher education institutions that receive federal funding. (Codified at 34 C.F.R. § 668 et seq.) The final regulations...more
On October 24, the Biden-Harris administration announced amendments to the regulations implementing title IV of the Higher Education Act of 1965 (HEA). According to the fact sheet, the amendments are intended to allow the...more
With a potential government shutdown bringing into question the ability to meet the master calendar requirement, the Department of Education (ED) released the final and official Gainful Employment (GE) rule on October 10,...more
A group of 23 Democratic AGs, led by Massachusetts AG Andrea Joy Campbell, filed an amicus brief in the U.S. Court of Appeals for the Fifth Circuit case Career Colleges and Schools of Texas v. U.S. Department of Education, et...more
The CFPB recently released a report regarding higher education tuition payment plans that discusses prevailing practices and highlights certain CFPB concerns regarding consumer impact. The CFPB’s report was based upon (a) a...more
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
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
Congressional Republicans are increasingly focused on ensuring that U.S. colleges and universities are properly disclosing gifts and contracts from foreign sources under Section 117 of the Higher Education Act of 1965, 20...more
On July 24, the Department of Education (DOE) issued a final interpretation to clarify that the Higher Education Act (HEA) preempts state laws and other applicable federal laws “only in limited and discrete respects.”...more
The regulations would terminate access to federal financial aid for certain programs and increase transparency across all postsecondary programs. The proposed “gainful employment rule” would limit a postsecondary...more
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
Following the Supreme Court’s June 30, 2023 ruling determining that the Biden-Harris administration did not have authority to carry out its student debt forgiveness plan, the administration released a fact sheet detailing new...more
Our Education Team delves into new proposed regulations that would bring a substantial change to the way Title IV is administered. New gainful employment regulations are more complex than Obama-era versions....more
On May 19, 2023, the U.S. Department of Education (ED) published in the Federal Register a Notice of Proposed Rulemaking (the Proposed Rule) to substantially change or expand a host of regulatory requirements concerning...more
Our Education Team studies how a change to the 90/10 Rule will affect how for-profit institutions will count federal funding in the 90/10 calculation. The Moran–Carper Amendment to the American Rescue Plan significantly...more
On March 1, 2023, the U.S. Department of Education (ED) published Electronic Announcement GENERAL-23-11 (EA) notifying institutions that participate in the Title IV federal student aid programs (Title IV) that it is...more
The U.S. Department of Education (Department) recently surprised the higher education community with a Dear Colleague Letter (DCL GEN-23-03) that sets forth new guidance on third-party servicers with whom institutions of...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
On January 11, a coalition of 22 state attorneys general from Massachusetts, California, Colorado, Connecticut, Delaware, the District Of Columbia, Hawaii, Illinois, Maryland, Michigan, Minnesota, Nevada, New Jersey, New...more
This advisory summarizes Section 117 requirements and enforcement, highlights key aspects of the updated guidance, and identifies considerations for higher education institutions given the U.S Department of Education’s...more