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Sheppard Mullin Richter & Hampton LLP

FTC’s Shuts Down Operators of Debt Relief Enterprise

On July 11, the Federal District Court for the Middle District of Florida granted the FTC’s request for a temporary restraining order against operators of a debt relief enterprise that unlawfully charged consumers illegal...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Recent Developments Affecting Student Loan Origination and Servicing

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With federal student loans approaching $1.7 trillion, private student loans approaching $129 billion, strident consumer group advocacy, and national elections on the horizon, student loan origination and servicing continues...more

Troutman Pepper

Department of Education Cancels $5B More in Unpaid Student Loans

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The U.S. Department of Education (ED) recently announced the approval of an additional $4.9 billion in student loan forgiveness for 73,000 individuals. The relief was provided through several modifications to the...more

Ballard Spahr LLP

CFPB Report Identifies Challenges Faced by Borrowers in Resumption of Student Loan Payments

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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

Spilman Thomas & Battle, PLLC

Biden's Reforms and 813,000 Student-Loan Borrowers

The White House recently announced that approximately 813,000 borrowers whose accounts were adjusted in August 2023 will receive an email from President Biden that their loans are being forgiven. This is based on the U.S....more

Ballard Spahr LLP

Dept. of Education issues framework for student loan servicer accountability

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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

Williams Mullen

PODCAST: Williams Mullen's Gavels & Gowns - Responding to Borrower Defense to Repayment Applications

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In this episode of Gavels & Gowns, an Education Law podcast, co-hosts Hal Johnson and Micah Schwartz discuss the U.S. Department of Education’s Borrower Defense to Repayment program, which involves federal student loan...more

Bricker Graydon LLP

BDR Activity on the Rise Amid Unclear Rules and an Executive Effort to Delete Student Loan Debt; Who will Pay the Tab?

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Borrower Defense to Repayment (BDR) refers to the administrative process by which borrowers apply to the U.S. Department of Education (ED) to have their federal Direct Loans discharged based on allegations of school...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 #2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

CFPB Continues to Expand Its Scrutiny of Higher Education with New Report on College and Postsecondary School Tuition Plans

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The CFPB recently released a report regarding higher education tuition payment plans that discusses prevailing practices and highlights certain CFPB concerns regarding consumer impact. The CFPB’s report was based upon (a) a...more

Ballard Spahr LLP

Biden loan forgiveness alternatives face new challenge

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Less than six weeks after the U.S. Supreme Court held that President Biden lacked authority to advance his signature effort to forgive upwards of $430 billion in federal student loans, a new challenge has been filed to other...more

Akin Gump Strauss Hauer & Feld LLP

White House and House Republicans React and Respond to SCOTUS Student Debt Forgiveness Decision with Competing Approaches

Following the Supreme Court’s June 30, 2023 ruling determining that the Biden-Harris administration did not have authority to carry out its student debt forgiveness plan, the administration released a fact sheet detailing new...more

Dorsey & Whitney LLP

The Supreme Court Update - June 30, 2023

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Today, in the last day of the 2022-2023 term, the Supreme Court of the United States issued three decisions: Department of Education v. Brown, No. 22-535; Biden v. Nebraska, No. 22-506: These cases addressed suits...more

Venable LLP

Biden's Student Loan Forgiveness Plan in Peril

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The Supreme Court heard arguments on February 28, 2023 in two cases that will decide the future of President Biden's student loan forgiveness plan. The cases, Biden v. Nebraska and U.S. Department of Education v. Brown,...more

Orrick, Herrington & Sutcliffe LLP

States support DOE’s overhaul of IDR plans

On February 13, a coalition of state attorneys general led by California and Massachusetts submitted a letter in support of the Department of Education’s (DOE) proposed changes to income-driven repayment plans (IDR) for...more

Orrick, Herrington & Sutcliffe LLP

States file brief in support of Biden’s student loan debt-relief program

On January 11, a coalition of 22 state attorneys general from Massachusetts, California, Colorado, Connecticut, Delaware, the District Of Columbia, Hawaii, Illinois, Maryland, Michigan, Minnesota, Nevada, New Jersey, New...more

Orrick, Herrington & Sutcliffe LLP

Education Dept. releases IDR proposal

On January 10, the Department of Education (DOE) announced a notice of proposed rulemaking (NPRM) to reduce the cost of federal student loan payments. ...more

Orrick, Herrington & Sutcliffe LLP

Education Dept. extends student loan moratorium

On December 22, the Department of Education announced a 90-day extended pause on student loan repayment, interest, and collections through May 1, 2022, which will allow the Biden Administration “to assess the impacts of the...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 3, Issue 12

Student Loans - Supreme Court Likely to Rule that Biden Student Loan Plan is Illegal, Experts Say. Here’s What that Means for Borrowers - “Long before the president acted, Republicans had criticized student loan...more

Akin Gump Strauss Hauer & Feld LLP

Biden-Harris Administration Extends Student Debt Repayment Moratorium in Light of Loan Forgiveness Litigation

As litigation surrounding the Biden-Harris administration’s student debt forgiveness plan persists, the administration announced an extension of the student loan repayment pause through June 30, 2023. In an announcement...more

Akin Gump Strauss Hauer & Feld LLP

Biden-Harris Administration Announces New Guidelines for the Discharge of Federal Student Loans

Last week, the Department of Justice (DOJ) and the Department of Education (DOE) distributed guidance to the legal community clarifying the process for the discharge of federal student loans in bankruptcy proceedings. The...more

Akin Gump Strauss Hauer & Feld LLP

Federal Appeals Court Temporarily Blocks the Biden-Harris Administration’s Student Debt Relief Plan: Secretary Cardona Responds...

Late on Friday, October 21, the 8th Circuit Court of Appeals issued a stay of the Biden-Harris administration’s Student Debt Relief Plan while it considers a lawsuit brought by six Republican state attorneys general to block...more

Akin Gump Strauss Hauer & Feld LLP

Biden-Harris Administration Opens Application for Student Debt Relief Program and Reports Eight Million Americans Have Already...

On the afternoon of Monday, October 17, President Biden announced via Twitter and press release that the Department of Education (DOE) has officially launched the application for its Student Debt Relief Plan. Borrowers can...more

Spilman Thomas & Battle, PLLC

The Academic Advisor - Education Law Insights, Issue 5, 2022

Legal Challenges Mount for Biden’s Student Loan Debt Forgiveness Plan - “Six Republican-led states and a libertarian policy organization sued the Biden administration over its plan to cancel up to $20,000 in student loan...more

Akin Gump Strauss Hauer & Feld LLP

Biden-Harris Administration Releases Preview of the Student Debt Relief Application Form

On Tuesday, October 11, the Biden-Harris administration and the Department of Education (DOE) provided a preview of the student debt relief application they had announced earlier in the year. Published on the White House’s...more

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