The Dangers of Parent PLUS Loans
January 28, 2014
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We have written previously about the problems with parent PLUS loans. This new issue brief summarizes the ways in which parent PLUS loans can be very dangerous products for borrowers and reasons why schools have incentives to push these loans. Parent PLUS loans can be very dangerous
Continue Reading →CFPB to Oversee Nonbank Student Loan Servicers
December 05, 2013
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The Consumer Financial Protection Bureau (CFPB) issued a rule this week that will allow the Bureau to supervise certain nonbank student loan servicers for the first time. This important move should invigorate oversight of student loan servicing. The CFPB’s supervisory authorit
Continue Reading →Federal Agency Student Loan News
December 01, 2013
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Federal Agency Student Loan News November 2013 Department of Education The Department announced a number of important new changes and programs in November, including: 1. Another round of negotiated rulemaking. The Department announced its intention to establish a negotiated rulemaki
Continue Reading →Student Loan Servicing Woes
October 30, 2013
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The Consumer Financial Protection Bureau’s (CFPB) annual ombudsman report focuses on the problems many borrowers face trying to repay private student loans. We applaud the CFPB report, especially since it is so difficult for borrowers to get relief from burdensome private stude
Continue Reading →Looking at the Polls
October 14, 2013
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Thanks to so many of you for responding to the new polling feature on our home page. Your responses reveal some interesting and often surprising results. In the first poll from this summer, we asked if you were having trouble with just federal student loans, just private loans, or bo
Continue Reading →Giving Financially Distressed Borrowers a Chance (Part 2)
October 28, 2012
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We wrote a few weeks ago about the September 8 New York Times article, “Debt Collectors Cashing in on Student Loans.” The article explains how student loan servicers and collectors lack incentives to prevent student loan defaults. Among other reasons, companies are not p
Continue Reading →Giving Financially Distressed Borrowers a Chance (Part 1)
September 23, 2012
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A recent New York Times article about student loan debt collectors raises a number of important issues that we will be writing about in a series of blogs. The article explains how student loan servicers and collectors lack incentives to prevent student loan defaults. Among other reas
Continue Reading →Operational Problems at the Department of Education: What Is Going On?
January 26, 2012
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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
Continue Reading →Obama Administration’s Student Loan Proposals
October 28, 2011
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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
Continue Reading →Update on “A lot of Talk, Not Much Action”
July 04, 2010
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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
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