ED Turns 325,000 Student Loan Borrowers Over to Debt Collectors It Fired for Breaking the Law
December 14, 2017
Comments are off
With nearly a quarter of federal student loan borrowers in default, borrowers need a system that will help them to successfully repay their loans. Unfortunately, the Department of Education continues to reward contractors that lie to borrowers and to incentivize programs that set borr
Continue Reading →Education Should Not Rush Into Another Failing Debt Collection Contract
August 16, 2017
Comments are off
According to Politico, late Monday night, the Department of Education told a federal appeals court that a court order blocking its ability to send any newly defaulted student loan borrowers to its hired debt collectors has cost taxpayers more than $5 million in lost collections since
Continue Reading →What Happens Now: A Post Election Message
November 17, 2016
Comments are off
Since the election of Donald Trump for President, we have heard from many people asking us, “what does this mean for student loan borrowers.” The honest answer is that we do not yet know. We have very little actual information about what the next administration plans, and it is still
Continue Reading →CFPB Report Shows Borrowers Still Struggle After Student Loan Rehabilitation
October 17, 2016
Comments are off
The Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman released a report today estimating that over a third of borrowers who rehabilitate their loans will re-default within the first two years. It further highlighted industry estimates that re-default rates could be as
Continue Reading →Student Loan Debt Collectors Must Facilitate Borrowers’ Rights
July 27, 2016
Comments are off
On a quiet Friday afternoon, just prior to the Fourth of July weekend, the U.S. Treasury Department released the first report on its student loan debt collection pilot program. Treasury launched this pilot program last year with the U.S. Department of Education (ED) to learn more abou
Continue Reading →Student Loans on Credit Reports
June 21, 2016
Comments are off
Credit reporting is a confusing topic for all types of debt, but it is especially confusing for student loans. This is largely because there are so many different types of student loans and they are governed by so many different rules. For example, there are multiple types of federa
Continue Reading →Department of Education Cancels Contracts with Five Private Collection Agencies
February 28, 2015
Comments are off
The Department of Education announced late in the day on Friday that following a review of 22 private collection agencies, the Department will “wind down” contacts with five agencies that were “…providing inaccurate information to borrowers.” The five co
Continue Reading →The Best of Senator Harkin’s HEA Discussion Draft, Part 2: Restoring Rehabilitation Rights
August 21, 2014
Comments are off
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 →New Rules for Loan Rehabilitation
June 28, 2014
Comments are off
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 →The Administration Must Act Now to Fix Mismanagement in the Federal Student Aid Programs
March 16, 2014
Comments are off
The U.S. House Committee on Education and the Workforce held a hearing this past week examining mismanagement in the federal student loan rehabilitation process. The hearing coincided with a damning report from the General Accountability Office (GAO), Better Oversight Could Improve D
Continue Reading →12
Search
Quick Help
Please Note
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.
Translation
About Us |
Disclaimer | Copyright © National Consumer Law Center, Inc., All rights reserved.