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Tag Archives: Rehabilitation
The Student Loan Default Trap
The Student Loan Default Trap: Why Borrowers Default and What Can Be Done, a new report released on Monday from the National Consumer Law Center’s Student Loan Borrower Assistance Project, addresses questions about the causes of default and the effectiveness … Continue reading
New Web Site for Borrowers in Default: Is it an Improvement?
The Department of Education posted a new web site for borrowers in default. It is intended to be a central point of entry for borrowers in default with information about consequences of default and on-line access to account information. The … Continue reading
Tagged Collection, Consolidation, Rehabilitation
Finally Some Action on Consolidation and Rehabilitation?
We have written a number of posts about ongoing operational problems at the Department of Education. We received some encouraging news this week that some of these problems may be fixed, including: 1. We wrote earlier about problems with borrowers seeking … Continue reading
Operational Problems at the Department of Education: What Is Going On?
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 … Continue reading
Tagged Federal student loans, IBR, Rehabilitation
Operational Breakdowns at the Department of Education
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 … Continue reading
Update on “A lot of Talk, Not Much Action”
We previously wrote about our efforts to persuade the Department of Education to resolve a number of problems with policies and programs for financially distressed student loan borrowers. Unfortunately, not much has changed since we last wrote. A quick summary: … Continue reading
Tagged Collection, Consolidation, Disability, IBR, Rehabilitation
What is Going on with Loan Rehabilitation?
We wrote a while ago about a new law that was supposed to unclog the loan rehabilitation logjam. Since then, the market has rebounded and according to guaranty agencies, there are now buyers for most rehabilitated loans. However, we are … Continue reading
Tagged Rehabilitation
Rehabilitation Should Work Better for Borrowers
Tim Ranzetta at Student Lending Analytics wrote recently about curing student loan defaults and rehabilitation. We have a few responses to this useful article based on our experiences representing and working with borrowers. 1. Reasonable and Affordable Repayment Borrowers … Continue reading
Tagged Consolidation, Rehabilitation
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