We wrote in December about operational breakdowns at the Department of Education, focusing on the Department’s failure to properly place borrowers in “forced consolidation” into IBR. Shockingly, the Department has yet to fix this problem. Department staff now tell us it will be reso
It seems that we were just looking back at 2010….and yet another year has passed. As we get ready for a holiday vacation at Student Loan Borrower Assistance Project, we offer a few thoughts on 2011: It was a year of ups and down in the fight against abuses in the for-profit hig
A December 2011 article in the Chronicle of Higher Education reveals numerous problems with the Department of Education’s online system for managing student loans. Unfortunately, this is not news to our clients and other borrowers. We have been pointing out operational breakdowns for
NCLC released a report today, “State Inaction: Gaps in State Oversight of For-Profit Higher Education.” The report examines state oversight of for-profit schools, focusing on state regulatory structures and the levels of resources devoted to enforcement and oversight. The Bad News 1
The Consumer Financial Protection Bureau (CFPB) announced today that it is seeking comments about the private student loan market. The Bureau wants to hear from everyone: borrowers, their families, current students, advocates, lenders, servicers, and school officials. You have 60 d
President Obama announced a plan this week to help alleviate student loan burdens. The President’s plan shows that the Administration is hearing the voices of struggling student loan borrowers. It is a good step in providing some relief, but much more needs to be done. There are a
State tuition recovery funds (STRFs) can be a valuable source of relief for defrauded students when a school is insolvent and when the student cannot obtain a federal discharge. STRFs contain deposits of money collected from schools approved to operate in the state. The funds are dis
We wrote previously about the dangers of promoting financial literacy efforts INSTEAD of regulating abusive credit products and INSTEAD of providing relief for financially distressed student loan borrowers. We noted the shocking lack of evidence that financial literacy is effective.
Joe Nocera wrote in the New York Times last week that profits and education shouldn’t have to be such an ugly combination. Nocera notes that defenders of the for-profit higher education industry are often ignored when they point out that their higher student loan default rates are in
Please understand that we do not provide legal advice about individual cases. This web site includes links to other resources for those who seek individualized legal advice or other help not offered here. This site is for people who already have student loans and want to know more about their options and rights.