The scheme made fraudulent promises of loan forgiveness, for which the agency imposed an industry ban and asset forfeiture. The Federal Trade Commission (FTC) has reached a settlement…
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Education Department Drafts Next Wave of Student Debt Relief
The agency proposes canceling debt accrued by high interest rates and long payment plans. The Department of Education released a draft this week of the next wave of…
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President Announces $7.4 Billion in Student Debt Cancellation
The student loan forgiveness applies to those enrolled in SAVE and other Income-Driven Repayment plans, and Public Service Loan Forgiveness. President Joe Biden’s administration announced another wave of…
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Court Allows CFPB Suits Against Student Loan Investment
Appellate court rules that investment trusts must follow consumer protection laws. The Third Circuit U.S. Court of Appeals ruled that investment trusts that purchase and hold private student…
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Administration Notifies Public Service Workers of Student Debt Relief
77,700 borrowers approved for a total of $5.8 billion in forgiven loans The Department of Education announced this month that an additional $5.8 billion in federal student loans…
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Education Department Announces Progress on FAFSA Improvements
Secretary says technical updates will not impact implementation timelines. The U.S. Department of Education provided updates on the progress of the 2024–25 Better FAFSA implementation, emphasizing a commitment…
Read MoreEducation Secretary Details Save Plan Student Loan Forgiveness
State-by-state breakdown published by the department. President Biden’s administration released state-specific details on the forgiveness of $1.2 billion in student loans for nearly 153,000 borrowers through the SAVE…
Read MorePresident’s Administration Forgives Additional $1.2 Billion in Student Loans
Cancels federal student loans for another 153,000 borrowers. The White House canceled an additional $1.2 billion in student loan debt this week, the cumulative debt of nearly 153,000…
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Education Department Reaches Settlement over Student Aid Violations
College consistently breached testing regulations to enhance enrollment and gain student loan funds. The U.S. Department of Education has reached a settlement with the for-profit school International Education…
Read MoreStudent Loan Debt Relief Offered to Borrowers in SAVE Program
Education Department provides debt forgiveness to those who borrowed $12k or less at least 10 years ago. The Department of Education announced that it will be providing loan…
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