Project on Predatory Student Lending
ITT Student Files New Lawsuit Against Navient for Private Student Debt Cancellation | Press Release
“Attacking the Concept of Debt” | Harvard Magazine
Update | Borrowers Raise Concern over Borrower Defense Denials
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.
SEC Gives Former Execs of Corinthian Colleges, a Massive Scam, Slaps on the Wrist | LA Times
Corinthian Colleges was a higher-education scam that defrauded tens of thousands of low-income students out of as much as $100 million in federally backed loans. Many are still struggling with the consequences because the Trump administration is refusing to grant them full relief from their student debt.
Defeated In Court, Education Dept. To Cancel $150 Million Of Student Loan Debt | NPR
The U.S. Department of Education is sending emails to about 15,000 people across the country telling them: You’ve got money. These are former students — and some parents of students — who took out loans for colleges that shut down between Nov. 1, 2013, and Dec. 4, 2018. About half attended campuses run by Corinthian Colleges. They will get their money back or have their debt forgiven — an amount estimated at $150 million, all told — under a provision called Automatic Closed School Discharge.
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.
Education Dept. Will Cancel $150 Million in Student Debt After Judge’s Order | New York Times
The Education Department is wiping $150 million in federal student loans off the books, and has begun the process of informing thousands of borrowers that they no longer owe the government money because the schools they attended shut their doors. The loan forgiveness, announced this week, applies to about 15,000 borrowers as federal education officials begin to carry out new rules that they fought in court for more than a year before giving up in October.
Education Department to Cancel $150M of Debt for Borrowers at Closed Schools | Politico Pro
The Education Department plans to expunge the federal student loans owed by thousands of borrowers whose education was interrupted by the closure of their college, carrying out an Obama-era policy that Education Secretary Betsy DeVos had fought to stop. Department officials said Thursday that they will cancel the loans of about 15,000 borrowers who qualified for “closed school” loan discharges but who haven’t yet applied for that benefit. Those student loans total approximately $150 million.
Borrowers Face Hazy Path as Program to Forgive Student Loans Stalls Under Betsy DeVos | New York Times
The students attended institutions with pragmatic names like the Minnesota School of Business and others whose branding evoked ivy-draped buildings and leafy quads, like Corinthian Colleges. Tens of thousands of them say they are alike in one respect: They were victims of fraud, left with useless degrees and crushing debts.
Update | Judge Declares Department of Education’s Seizure of Corinthian Colleges Borrowers’ Tax Refunds Illegal
A federal judge ruled this week that the Department of Education illegally took the tax refunds of two former Corinthian College students to pay their student loans, without addressing the assertion that these loans are fraudulent and unenforceable. Now, the Department may not take their tax refunds unless and until it makes a reasoned decision…
Judge Declares Department of Education’s Seizure of Corinthian Colleges Borrowers’ Tax Refunds Illegal | Press Release
A federal judge ruled that the Department of Education illegally took the tax refunds of two former Corinthian College students to pay their student loans, without addressing the assertion that these loans are fraudulent and unenforceable. Now, the Department may not take their tax refunds unless and until it makes a reasoned decision about the assertions of fraud.
What Defrauded Student Loan Borrowers Need to Know | U.S. News & World Report
Defrauded student loan borrowers will see some relief, thanks to an Obama-era rule a federal judge ordered immediately implemented Tuesday. The 2016 borrower defense rule outlines a way for student borrowers to apply for loan forgiveness if they were defrauded or misled by their college.