A Deep Dive into the Debate Over Federal Student Loan Forgiveness
The “One Big Beautiful Bill Act” (the “Act”), which recently became law, makes significant changes to federal financial aid programs administered under Title IV of the Higher Education Act of 1965 (“HEA”). These changes...more
INCLUDING ACADEMIC PROGRAMS, STUDENT LOANS AND FINANCIAL AID, REPORTING REQUIREMENTS, ENDOWMENTS, AND ON-LINE LEARNING - Join us for an essential deep dive into the sweeping changes introduced by the “One Big Beautiful...more
On Friday, July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (H.R. 1), Public Law No: 119-21 (The OBBB Act). ...more
On April 21, the U.S. Department of Education announced that its Office of Federal Student Aid (FSA) will resume collections on defaulted federal student loans starting Monday, May 5th. This decision ends a collections pause...more
In a move aimed at delivering on one of his most ambitious campaign promises, President Donald Trump signed an executive order on Thursday to eliminate the U.S. Department of Education (DOE) and shift authority over education...more
Welcome to the “Student Lending” chapter of our annual report, Consumer Financial Services: 2024 Year in Review. Regulators will likely continue to focus on junk fees and purported deceptive or nontransparent practices...more
On February 18, 2025, the Eighth Circuit Court of Appeals ruled that the Biden administration’s income-driven repayment Plan was an overreach of authority. In doing so, it upheld a preliminary injunction on the Plan and sent...more
On December 16, the CFPB released a special edition of its Supervisory Highlights, which detailed findings from the Bureau’s recent examinations of student loan markets. The report identifies a range of violations related to...more
On December 9, 2024, the CFPB entered into a consent order with the Company, alleging violations of the Consumer Financial Protection Act ("CFPA") and Fair Debt Collection Practices Act ("FDCPA") with respect to its...more
After more than seven years of litigation, on September 12, 2024, the CFPB filed the Stipulated Order reflecting its settlement with the Company over alleged violations of the CFPA, FCRA, and FDCPA....more
In this article, we share a timeline of our monthly "bites" for 2023 applicable to student lending along with some information related to financial products and services offered to students....more
The Consumer Financial Protection Bureau highlighted its observations of the resumption of federal student loan payments by consumers after more than three years of a payment moratorium due to COVID-19 in a report released on...more
The White House signaled last week that, with the resumption of federal student loan payments, federal student loan servicers can expect to face increased scrutiny. The Department of Education issued a “Framework for Student...more
As part of its pledge to improve student loan programs and advance diversity and opportunity in higher education, the Biden administration has forgiven a total of $127 billion in student debt for 3.6 million borrowers,...more
Higher education clients who accept federal student loans may have recently received emails from the Department of Education (“Department”) notifying them of borrower defense claims seeking to avoid loan repayment obligations...more
On June 30, 2023, the U.S. Supreme Court invoked the “major questions doctrine” for the second time, concluding that the Biden Administration’s plan to forgive $430 billion of federal student loans under the Health and...more
On March 27, Republican lawmakers Representative Bob Good (R-VA) and Senator Bill Cassidy (R-LA) introduced a joint resolution of disapproval under the Congressional Review Act to overturn the Department of Education’s (DOE)...more
Building on its previous efforts to reduce the cost of federal student loans, the Department of Education (DOE), as directed by the Biden-Harris administration, proposed a new rule on Tuesday, January 10, that would reform...more
On July 13, 2022, the U.S. Department of Education (the Department) published in the Federal Register a Notice of Proposed Rulemaking (the Proposed Rule) to revise its regulations governing student loan discharge standards...more
Our Education Team examines how the Borrower Defense Rule is again expanding under the Biden Administration, beginning with a huge decision involving, for the first time, for-profit schools that are still operating. Nearly...more
Here are 5 Changes Student Loan Borrowers Could See in 2022 - "Experts say that if student loan forgiveness is going to happen, it will likely be before the midterm elections." Why this is important: During the last...more
After reviewing the existing types of federal student loans and forgiveness programs, we discuss the current political debate over forgiveness, including the Education Dept.’s upcoming analysis of the President’s forgiveness...more
On August 8, 2020, President Trump signed four executive orders that are designed to provide additional COVID-19 relief as talks on Capitol Hill collapsed on August 7 between White House negotiators and Democratic leaders...more
The U.S. Court of Appeals for the Third Circuit ruled last week in Commonwealth of Pennsylvania v. Navient Corp. that the PA Attorney General could bring a parallel enforcement action against Navient, a servicer of federal...more
Section 3513, one of the many provisions of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), addresses the handling of most federal student loans....more