What is on the Department of Education’s Negotiated Rulemaking Agenda?
February 23, 2015
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The Department of Education’s latest round of negotiated rulemaking begins tomorrow. The Department has set out a limited, but important agenda, focusing on income-driven repayment and benefits for military service members. Specifically, the Department has said that the agenda
Continue Reading →What are the new rules for PLUS loan credit checks?
January 27, 2015
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Unlike other federal student loans, there is a “credit check” requirement for both parent and graduate/professional PLUS loans. The “credit check” basically requires that PLUS loan borrowers show that they do not have adverse credit histories. There has been considerable
Continue Reading →Student Loans in 2014: What a Year!
December 18, 2014
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We thought last year was a busy year in the student loan world (and it was) but this year was even busier. As The Institute for College Access and Success (TICAS) and others have reported, student debt burdens continue to increase. The Obama Administration announced a commitment t
Continue Reading →The Beginning of the End of Abusive Student Loan Debt Relief??
December 11, 2014
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We support today’s action taken by the CFPB and the Florida Attorney General to shut down College Education Services and in a separate CFPB action to file a lawsuit against Student Loan Processing.US, student loan “debt relief” businesses. NCLC highlighted concerns about the student “
Continue Reading →Putting Some Teeth in Student Loan Servicing Reform
November 09, 2014
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The National Consumer Law Center’s annual conference wrapped up this weekend. We were honored to have a number of top federal student aid regulators at our conference this year. We wrote about Treasury Deputy Secretary Sarah Bloom Raskin’s speech in a separate post. We were also ho
Continue Reading →Changing the Structure of Student Loan Servicing
October 07, 2014
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Last month, the Department of Education announced new contract terms for its largest student loan servicers. The Department made some important changes, but much more needs to be done. As Ben Miller of New America summarized, the changes address only the finances, not the structure o
Continue Reading →The Best of Senator Harkin’s HEA Discussion Draft, Part 2: Restoring Rehabilitation Rights
August 21, 2014
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We wrote in our March 2014 report about the critical importance of giving students more than one chance to succeed in college. The reality is that most students do not follow a straight line from high school to a four-year college to graduation. Many stumble along the way. Yet fed
Continue Reading →U.S. Senators Demand Information about Federal Student Loan Servicing
July 10, 2014
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We issued a policy brief in June on student loan servicing. We urged the Department of Education not to renew the current servicing contracts. We said that borrowers and taxpayers deserve better than five more years of the same old system. We are sorry to report that the Department
Continue Reading →New Rules for Loan Rehabilitation
June 28, 2014
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We wrote earlier about a number of important changes to the federal student loan program. It took a long time, but it’s now almost July 1, the date when the new rules become effective. There are a number of important changes, including very significant improvements to the loan r
Continue Reading →What Is President Obama Proposing to Do to Make Student Loans More Affordable?
June 16, 2014
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President Obama announced new executive actions last week to address rising student loan debt burdens. The proposed changes to income-based repayment received the most attention. The current Pay As You Earn plan has the most favorable terms for borrowers, but is only available to ne
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