Challenge says Congress did not authorize blanket student debt cancellation while Department of Education responds that claims are “baseless.” The plaintiff seeks to prevent the student debt cancellation from going into effect and a decision by Oct. 1. 09/28/2022 2:30 P.M. 3 minute read A nonprofit legal group, the Pacific Legal Foundation, has taken the […]
The student debt relief plan for next year is expected to help over 40 million borrowers through loan forgiveness and give them time to prepare for payments that will resume in January. 09/22/2022 12:45 P.M. 3.5 minute read The Biden administration and U.S. Department of Education (DOE) have released new details on the targeted student […]
The complaint argues that the department’s student loan forgiveness and associated costs impacting inflation and the economy will affect other borrowers with loans of any kind and that it is not within the department’s authority under the HEROES Act. 09/19/2022 4:00 P.M. 5.5 minute read A lawsuit in an Oregon District Court is challenging the […]
U.S. Rep. Virginia Foxx, ranking member of the House Committee on Education and Labor, is calling on the committee’s chair to hold an oversight hearing with department leaders. 09/15/2022 11:25 A,M. 2.5 minute read Congressional approval for the U.S. Department of Education’s student debt relief actions is needed before the House Education and Labor […]
A student loan servicing comment period is underway on a notice of proposed rulemaking to clarify that education financing products are student loans and that servicers of those products must be licensed. 09/13/2022 2:45 P.M. 1 minute read On Sept. 9, the California Department of Financial Protection and Innovation (DFPI) proposed the adoption of new […]
Courtney Reynaud and staff from Creditors Bureau USA met with California Assemblyman Jim Patterson about issues faced by small businesses in the ARM industry. ACA International has resources available to assist members in getting involved with advocacy efforts. 09/12/2022 9:45 A.M. 2.5 minute read ACA International members in California, led by ACA Board President Courtney […]
A Minnesota district court held the defendant student loan servicers in this case were not debt collectors under the FDCPA because the debt at issue was not in default when the defendants acquired it. 09/06/2022 3:00 P.M. 3.5 minute read Goodman v. Coronado Student Loan Trust, Penn. Higher Education Assistance Agency, and American Education Servs., […]
The Biden administration has extended the student debt repayment pause through the end of the year and approved up to $10,000 in debt forgiveness for borrowers based on their income, as well as relief for Pell Grant recipients. Brownstein Hyatt Farber Schreck provides insights here. 09/02/2022 10:00 A.M. 6 minute read By Radha Mohan, Laura […]
The FDCPA covers a broad range of debts, including past-due assessments or violation fines from a Homeowner Association if it works with a third-party collection agency. 08/30/2022 9:45 A.M. 3 minute read By Corrinne R. Viola The Fair Debt Collection Practices Act is a federal law that establishes protection for consumers from abusive debt collection […]
The Biden administration has extended the student loan repayment pause through the end of the year, approved up to $10,000 in debt forgiveness for borrowers based on their income, as well as relief for Pell Grant recipients. Concerns about the decision’s impact on inflation and taxpayers are rising while supporters say it will help with […]
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