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.
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.