Former for-profit college students will have $168 million in student debt cancelled | MarketWatch
More than 18,000 students who attended a now-defunct for-profit college will have $168 million in private loan debt discharged. The loan cancellation is part of a proposed deal between the Consumer Financial Protection Bureau, attorneys general of 43 states and the District of Columbia and Student CU Connect (or the CUSO), a company that held and managed private loans taken out by students at ITT Tech.
Cancel Student Debt, Boost the Economy | Medium
In April, Senator Elizabeth Warren released a bold plan for free public college and debt cancellation. This transformational proposal takes direct aim at some of the deepest inequities in education in America, and it’s funded by her Ultra-Millionaire tax on wealth above 50 million. The plan includes a $50 billion minimum fund for historically Black colleges and universities (HBCUs) and minority-serving institutions, and will make public college tuition-free at both two- and four-year institutions.
Judges Keep Slapping Down Poor Betsy DeVos! | Wonkette
Education Secretary Betsy DeVos is terrible at her job. Her objectives and overall mission are evil, but if it’s any consolation she can’t effectively implement them. After buying her Cabinet position at Sotheby’s, DeVos has spent the past two years trying to roll back Obama-era policies designed to protect and actually educate students. Unfortunately for her evil schemes, federal courts keep smacking down her slimy efforts. It’s getting embarrassing.
Education Department to Enforce Obama-era Ban on Mandatory Arbitration | Politico Pro
The Education Department said on Friday that it will begin enforcing an Obama-era ban on colleges using mandatory arbitration agreements, after a federal judge last fall thwarted the Trump administration’s efforts to stop the policy.
Dept. of Education to Cancel $150 Million in Student Loan Debt | NBC News
The U.S. Department of Education announced Thursday it would automatically cancel $150 million in student loans connected to for-profit colleges that closed in recent years. The move was made under an Obama-era policy that a federal judge in October essentially forced U.S. Secretary of Education Betsy DeVos to implement. The story was first reported by Politico.
Former ITT Tech Students Get $600M in Debt Relief from Bankruptcy Judge | Indianapolis Business Journal
While the bankruptcy fight over failed for-profit educator ITT Educational Services continues, the biggest group involved in the legal battle has scored a big victory. In late November, a federal bankruptcy judge in Indianapolis gave final approval to a $600 million settlement that will affect about 750,000 former students of ITT Technical Institute.
ITT Tech Students Score Victory in Bankruptcy Settlement | Washington Post
As creditors of ITT Educational Services fight over the remaining assets of the defunct for-profit college operator, one group has secured a significant victory in the bankruptcy proceedings: former students. On Wednesday, a federal judge gave final approval to a settlement that will erase nearly $600 million that 750,000 students owed ITT Technical Institute. The agreement, which was first announced in January, will also refund $3 million that students paid the for-profit chain.
Despite the Economic Recovery, Student Debtors’ ‘Monster in the Closet’ has Only Worsened | CNBC
In many ways, Daniel Strong is happy with his life. He owns a three-bedroom ranch-style house in Charlottesville, Virginia, where he lives with his wife and 3-year-old son, Benjamin. He recently made the last payment on his silver, Toyota Tacoma. He likes his job.
Devos Under Fire for Obstacles to Student Debt Relief | Courthouse News Service
A federal judge blocked the Education Department on Monday from dismantling an Obama-era regulation intended to protect student-loan borrowers from predatory lending practices. “The court concludes that, as with most unlawful agency actions, the proper remedy here is vacatur,” U.S. District Judge Randolph Moss wrote.
Judge rules that DeVos delay of Obama-era student loan rules is ‘unlawful’ | Politico Pro
A federal judge today ruled that Education Secretary Betsy DeVos’ various delays of Obama-era regulations governing loan forgiveness for defrauded borrowers were illegal.