No Lost Causes: Practical Ideas to Help Low-Income Students Succeed in College
March 05, 2014
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Lack of financial resources and the growing costs of college have a clear impact on college success rates, yet there are social trends at work that also provide significant challenges. Our new report addresses the root causes of poverty and social isolation while also presenting prac
Continue Reading →Department of Education’s Final Regulations: Some Good News for Borrowers Seeking Rehabilitation
November 14, 2013
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The Department of Education issued final regulations on November 1, 2013 making significant changes to a number of key student loan programs. Many of the most important changes affect the loan rehabilitation program that borrowers may use to get out of default on federal student loan
Continue Reading →The Student Loan Default Trap
July 31, 2012
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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 of programs intended to
Continue Reading →New Web Site for Borrowers in Default: Is it an Improvement?
June 13, 2012
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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
Continue Reading →Finally Some Action on Consolidation and Rehabilitation?
May 29, 2012
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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
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 →Operational Breakdowns at the Department of Education
December 16, 2011
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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
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
Continue Reading →What is Going on with Loan Rehabilitation?
April 13, 2010
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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
Continue Reading →Rehabilitation Should Work Better for Borrowers
October 26, 2009
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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
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