Posts Tagged ‘Department of Education’

Student Loan Truth: For-Profit Borrowers Keep the Pressure on During NegReg | Blog

As the Department of Education Negotiated Rulemaking committee kicked off a second session, student borrowers continued to show up and demand accountability on borrower defense. This time, a common theme emerged: even for those who were finally promised relief by the Biden administration months ago, confusion and delay remain the status quo when it comes to borrower defense.

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Student Loan Truth: The Real Heroes of NegReg

On October 4-8, the Department of Education held their second Negotiation Rulemaking, or NegReg, session of the year. This year, the broken borrower defense process is one of the top areas of discussion, and the Department of Education refused to include the very students who experience this process firsthand.

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Advocates and Borrowers Raise Significant Concerns as ED Declines to Name For-Profit College Borrowers to Rulemaking Committee on Borrower Defense | Press Release

The Project on Predatory Student Lending today raised significant concerns that the U.S. Department of Education has failed to select any former for-profit college borrowers for its negotiated rulemaking committee, including rejecting a nominee with the support of more than 1,200 former for-profit college students – the very people who have been most significantly harmed by the broken borrower defense process.

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Statement on Extended Closed School Discharges for ITT Borrowers | Press Release

Today, the U.S. Department of Education announced that it will make $1.1 billion in closed school discharges available to an additional 115,000 borrowers who attended the now-defunct ITT Technical Institute (ITT). According to the Department, this segment of borrowers includes those who did not complete their degree or credential and left ITT on or after March 31, 2008. 

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Can Biden Cancel Student Debt? It Depends Who You Ask | Inside Higher Ed

Four months ago, it was announced that President Biden had directed the Department of Education and the Department of Justice to examine his legal authority to unilaterally cancel student loan debt. Though the results of the inquiry haven’t yet been released publicly, other legal experts have already tackled the question — with fundamental disagreement between them on the limits of the president’s power.

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7,200 Borrowers Cheated by Corinthian Colleges to Finally Secure Debt Relief as Education Department Drops Legal Appeal | Press Release

Former for-profit college students today secured a long-awaited victory as the U.S. Department of Education filed a motion dropping its appeal in Vara v. Cardona (formerly Vara v. DeVos) and will comply with a federal court order to grant the Massachusetts Attorney General’s borrower defense application on behalf of 7,200 borrowers who attended Massachusetts Everest schools, which were part of the Corinthian Colleges chain. The decision sets the precedent that group borrower defense applications filed by state attorneys general on behalf of defrauded borrowers are valid and must be decided by the Department.

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Biden Administration Drops Appeal of Legal Decision Granting former Corinthian Colleges Students Debt Relief | Washington Post

A group of 7,200 former students of the defunct for-profit chain Corinthian Colleges will have their federal student loans canceled after the Education Department agreed Thursday to drop its appeal of a court order to clear their debts. The decision arrives more than a year after a federal judge ruled that the students in Massachusetts were entitled to a full discharge of their loans under a statute known as borrower defense to repayment. The Trump administration fought the order and brought the case to a standstill, but borrowers were hopeful the Biden administration would concede.

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“We are calling on the Department to do what is right when it sees evidence of widespread fraud” – Statement on Approval Of Additional Student Borrower Defense Claims

Department of Education announced that it will approve borrower defense applications for a select 1,800 student borrowers who attended the predatory for-profit colleges of Westwood, Marinello, and the Court Reporting Institute. It will cancel all outstanding loan balances for these individuals, wiping out approximately $55.5 million in predatory student loan debt.

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