Moving in the Right Direction to Protect Student Borrowers – Department of Education Says States Can Hold Student Loan Servicers Accountable
September 28, 2021
by Kyra Taylor
Federal Loans, Federal Servicing, Federal student loans, preemption, Servicers, student loan servicing, Unfair and Deceptive Acts and Practices
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Last month, the Department reversed a DeVos era notice which said that federal student loan servicers were not subject to state consumer protection laws. The Devos interpretation said that states’ laws that protect borrowers from servicers’ false and misleading practices were “preempted” by the Higher Education Act (HEA). Preemption is a legal doctrine in which […]
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