Landmark Borrower Defense Settlement to Cancel Over $6 Billion in Student Loans for 200,000 Borrowers | Release
Student borrowers filed a joint motion for approval of a settlement with the US Department of Education in the class action lawsuit Sweet v. Cardona.
Former Corinthian Students Claim Victory at the Department of Education’s Debt Cancellation Announcement | Press Release
Today, the Department of Education announced that it will cancel all federal student loans from Corinthian Colleges, the chain of for-profit colleges known for scamming and defrauding borrowers.
Statement On Navient Settlement Cancelling $1.85 Billion in Predatory Student Debt | Press Release
Today, Massachusetts Attorney General Maura Healey, joined by a coalition of 38 attorneys general, announced a settlement with private student loan lender Navient. Under the settlement, Navient will provide relief totaling $1.85 billion to resolve allegations of widespread unfair and deceptive student loan servicing practices and abuses in originating predatory student loans.
Congress Urged To Stop Propping Up Fraudulent For-Profit Colleges With Federal Pell Grants | Press Release
As part of President Biden’s Build Back Better framework, Democrats in Congress have proposed restricting for-profit colleges from receiving federal funds in the form of Pell Grant awards, a student aid program for those with significant financial need. “Congress should no longer prop this fraudulent industry up with taxpayer funds…that are supposed to help the lowest income students.”
Florida For-Profit Colleges Sued for Selling Predatory Product and Targeting Black Students | Press Release
A class action was filed against Florida-based for-profit college chain, Florida Career College (FCC), for selling a predatory product using false representations and high-pressure sales tactics that leave students in mountains of debt they cannot repay and systematically targeting Black students.
Student Advocates Announce Closed School Discharges for Over 30,000 Student Borrowers | Press Release
Student Defense and the Project on Predatory Student Lending issued statements today responding to the U.S. Department of Education’s confirmation that it had discharged loans for over 30,000 student borrowers under the automatic closed school discharge provision of the 2016 borrower defense rule. The discharges include roughly $95.1 million in relief for approximately 7,700 former students of the predatory for-profit college, ITT Tech.
Project on Predatory Student Lending Statement on Education Department’s Processing of Automatic Closed School Discharges For Former ITT Students | Press Release
The Project on Predatory Student Lending today issued the following statement after the U.S. Department of Education confirmed it has finally begun to process automatic closed school loan discharges for a select group of former students of the predatory for-profit college, ITT Tech.