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 new site allows borrowers to request collec
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 to consolidate out of defau
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
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
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: Ensure that Borrowers
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 finding that borrowers that are only able to m
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 seeking
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.