News & Analysis as of

Student Loans New Guidance

Seyfarth Shaw LLP

Major SECURE 2.0 Guidance Issued: Extra Credit for Repaying Qualified Student Loans

Seyfarth Shaw LLP on

Seyfarth Synopsis: On August 19, 2024, the IRS issued Notice 2024-63 (the “Notice”) providing guidance for plan sponsors that wish to provide matching contributions based on eligible student loan repayments made by...more

Sheppard Mullin Richter & Hampton LLP

States Sue the Biden Administration to Stop Loan Relief Plan

On April 9, 2024, seven states filed suit against the Biden administration in an attempt to block its new “SAVE” plan, an income-driven repayment plan that leads to eventual loan forgiveness. The case is pending in the U.S....more

Proskauer - Employee Benefits & Executive...

Notice 2024-02: IRS Offers Guidance on (Some) SECURE 2.0 Questions

Approximately one year after Congress enacted the SECURE 2.0 Act of 2022 (“SECURE 2.0”), the IRS issued Notice 2024-02, which addresses SECURE 2.0 implementation issues and extends the plan amendment deadline. Although...more

Ballard Spahr LLP

Dept. of Education issues framework for student loan servicer accountability

Ballard Spahr LLP on

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

Spilman Thomas & Battle, PLLC

The Academic Advisor - Education Law Insights, Issue 3, March 2023

Department of Education’s New Guidance on Personal Liability Requirements Leaves Uncertainty for Institutions - On March 1, 2023, the U.S. Department of Education (“DOE”) released guidance related to the instances in which...more

Holland & Knight LLP

U.S. Department of Education Issues New Guidance on Third-Party Servicers

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The U.S. Department of Education (Department) published its newest "Dear Colleague Letter" (DCL ID: GEN-23-03) on Feb. 15, 2023, making sweeping changes to the regulation of agreements between institutions of higher education...more

Keating Muething & Klekamp PLL

What Employers Need to Know About SECURE 2.0

The Senate ushered in the New Year with a bang by passing SECURE 2.0 on December 22, 2022. SECURE 2.0 includes many updates to the sweeping changes brought about under 2019’s original SECURE Act legislation...more

Orrick, Herrington & Sutcliffe LLP

DFPI modifies Student Loan Servicing Act proposal

On January 6, the California Department of Financial Protection and Innovation issued modified proposed regulations under the Student Loan Servicing Act (Act)...more

Nutter McClennen & Fish LLP

Nutter Bank Report: March 2021

Federal Reserve Issues New Guidance on Managing the LIBOR Transition - The Federal Reserve has issued guidance on how examiners will assess a banking organization’s progress in preparing to transition to a replacement rate...more

Goodwin

CFPB Grants No-Action Letter for Proposed Small-Dollar Credit Product

Goodwin on

In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more

Snell & Wilmer

President Trump’s Four Executive Actions Extend Certain Coronavirus Relief Programs, but Create Legal Uncertainty

Snell & Wilmer on

On August 8, 2020, President Trump issued four executive actions–one executive order and three Presidential Memoranda1–aimed at extending various coronavirus relief programs that have already expired, or are set to expire, in...more

Troutman Pepper

COVID-19 Impact for Health & Welfare Plans (Troutman Sanders and Pepper Hamilton COVID-19 Issues for Employers Podcast Series)

Troutman Pepper on

Troutman Sanders and Pepper Hamilton are producing a series of podcasts to discuss employee benefits, executive compensation, and labor and employment issues that employers are confronting in light of the COVID-19 pandemic,...more

Goodwin

COVID-19 and Consumer Financial Services: Navigating New U.S. and State Orders, Rules, Laws, Guidance, and Pleas

Goodwin on

Over the past several weeks, the coronavirus (COVID-19) pandemic has sparked a litany of new orders, rules, laws, guidance, and plain asks from federal and state leaders, agencies, and courts. The President and federal and...more

Hogan Lovells

U.S. Department of Education provides additional, albeit limited, guidance on implementation of 2016 "borrower defense to...

Hogan Lovells on

On 3 June 2019 the U.S. Department of Education (ED) published a two-page Questions and Answers (Q&A) document to provide additional guidance to colleges and universities about aspects of the final regulations often referred...more

Holland & Knight LLP

Education Dept. Confirms Requirements to Report Litigation, Settlements, Specified Liabilities

Holland & Knight LLP on

• Recently released guidance from the U.S. Department of Education's Office of Federal Student Aid (FSA) confirms that both private and public institutions of higher education must report litigation, settlements and other...more

Hogan Lovells

U.S. Department of Education provides guidance on implementation of 2016 "borrower defense to repayment" regulations

Hogan Lovells on

On 15 March 2019 the U.S. Department of Education (ED) issued an Electronic Announcement to provide guidance to colleges and universities about selected provisions contained in final regulations often referred to as the...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Hard to imagine that any financial news could come close to making headlines on Thursday, and yet, the SEC and Elon Musk came close. Specifically, the SEC filed suit against Musk, accusing him of “making false public...more

Katten Muchin Rosenman LLP

Regulators Release Guidance on Private Student Loans With Graduated Repayment Terms at Origination

On January 29, the federal financial regulatory agencies, in partnership with the State Liaison Committee of the Federal Financial Institutions Examination Council, issued guidance for financial institutions on private...more

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