Blogs Archives - Page 23 of 25

Fewer Rights, Fewer Protections: Reflections on the Lack of Safeguards in Student Lending

While policymakers strengthened consumer protections for most credit products in the wake of the financial crisis, the rights of student loan borrowers continue to lag far behind. At every step of the lending and repayment process, 44.7 million American student loan borrowers still lack the same basic rights enjoyed by consumers of credit cards, mortgages, and other common financial products.

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The System is Broken: What More Than a Decade of Litigation Reveals About the State of the Student Loan Industry

The student loan industry has repeatedly demonstrated that it is unable to do business in a fair and honest manner, these cases also reveal how the absence of enforceable, industry-specific standards for common practices has left borrowers’ vulnerable to a staggering range of abuses.

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Setting the Record Straight: ED’s Failures in Student Borrower Protection

Setting the Record Straight: ED’s Failures in Student Borrower Protection By Ben Kaufman | November 26, 2019 In October, the Department of Education (ED) and its Secretary, Betsy DeVos were held in contempt and fined $100,000 for violating a court order preventing them from illegally collecting on defrauded students’ debts. Noting that ED had breached that order 16,000 times, the judge in the case described herself as “extremely disturbed” and “astounded” by ED’s…

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New Navient Investigations Shed Light on How Courts Continue to Reject DeVos’s Efforts to Shield Student Loan Companies

DeVos and Navient are losing this fight in court. Navient is being sued by the Consumer Financial Protection Bureau and the States of Illinois, Washington, Pennsylvania, California, and Mississippi for illegal servicing practices.

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Roundup: Congress Continues to Raise Pressure on CFPB Director to Stand Up for Student Borrowers

Recently, lawmakers have been raising the pressure on the CFPB to fight for student loan borrowers, calling on Director Kraninger to get to work. Below is a recap of lawmakers’ recent exchanges with Director Kraninger around the Bureau’s failure to stand up for student loan borrowers and the need for the agency to do its job on behalf of borrowers.

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What Betsy DeVos’s Brush with the Law Reveals About Our Broken Student Loan System

What Betsy DeVos’s Brush with the Law Reveals About Our Broken Student Loan System By Mike Pierce | October 24, 2019 Earlier this month, a federal judge in California held a hearing to consider whether Education Secretary Betsy DeVos should be held in contempt of court. At issue: student loan servicers’ and debt collectors’ continued attempts to collect money from 16,000 student loan borrowers cheated by a for-profit school, all in violation of…

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Stamping out Fraud in Higher Education through the False Claims Act: “Material” Should Mean Something

Students also look at the total cost of the program and determine whether they qualify for financial aid and student loans. In doing their homework, students generally trust the information they get from these schools or programs because they assume some government agency is making sure schools tell the truth. But maybe they shouldn’t.

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SLLI Convenes Student Loan Policy and Litigation Colloquium

On October 4th SLLI convened leading legal scholars, student loan experts, and practitioners from across the country to share their work and shape the future of student loan research and litigation.

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Supporting States in the Fight to Protect Borrowers

States are on the front lines of the student debt crisis. State legislators and policymakers are among the first to hear stories of struggling borrowers, learn about industry abuses, and spot problems and trends in communities. Many states are also playing a critical role in overseeing student loan companies and cracking down on predatory practices by enforcing consumer protection law.

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Five Things We Learned About Navient’s Plot to Cheat Student Borrowers

Yesterday, over the objections of Navient’s attorneys, a federal judge unsealed a trove of new documents revealing a years-long, coordinated effort by company executives to cheat student loan borrowers out of their rights.

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Media Type: Blogs

Fewer Rights, Fewer Protections: Reflections on the Lack of Safeguards in Student Lending

The System is Broken: What More Than a Decade of Litigation Reveals About the State of the Student Loan Industry

Setting the Record Straight: ED’s Failures in Student Borrower Protection

New Navient Investigations Shed Light on How Courts Continue to Reject DeVos’s Efforts to Shield Student Loan Companies

Roundup: Congress Continues to Raise Pressure on CFPB Director to Stand Up for Student Borrowers

What Betsy DeVos’s Brush with the Law Reveals About Our Broken Student Loan System

Stamping out Fraud in Higher Education through the False Claims Act: “Material” Should Mean Something

SLLI Convenes Student Loan Policy and Litigation Colloquium

Supporting States in the Fight to Protect Borrowers

Five Things We Learned About Navient’s Plot to Cheat Student Borrowers