Investigations

Spurred by litigation, in late 2021 ED released roughly 2,000 pages of reports, communications, and other records concerning its management of the AWG program during COVID.

In an effort to continue investigating ongoing breakdowns denying borrowers access to PSLF, the American Federation of Teachers, the National Education Association, and the SBPC uncovered thousands of pages of documents from the company the Department of Education contracts with to manage PSLF: PHEAA.

 Today, the California Department of Financial Protection and Innovation (DFPI) announced a landmark consent order with New York-based Meratas, Inc., a company that partners with educational institutions to offer students Income Share Agreements or ISAs to finance post-secondary education and training.

The findings of this investigation include tens of thousands of never-before-seen instances in which federal student loan servicers inaccurately told credit reporting agencies that borrowers whose payments had been paused at the outset of COVID had stopped paying on their student loans.

This report is the result of an investigation that reveals potentially harmful business practices and possible fair lending risks by Stride Funding, an education finance firm that originates and markets Income Share Agreements (ISAs).

In a memo, the SPBC highlights how ISA companies are unlawfully depriving students of the ability to protect themselves from fraud by leaving out of their ISA contracts language required under the Federal Trade Commission’s (FTC) “Holder Rule.”

The SBPC, Allied Progress, Americans for Financial Reform, and Student Debt Crisis sent letters to the CEO of PayPal, Inc. and its regulators warning that the tech firm may be driving significant harm to borrowers attending for-profit schools.

Internal Government Communications and Records About the Process for Certifying Public Service Employment In response to requests filed under the Freedom of Information Act, FSA produced more than 9,200 pages of documents and records. Due to the large size of this production, we have divided these documents and records into segments,...