The Rules They Are A-Changin’: CMS Proposes a Significant Change to the 60-Day Repayment Rule
On August 2, 2024, the Illinois governor signed SB 86 into law to amend the Illinois Know Before You Owe Private Education Loan Act and the Illinois Student Loan Servicing Rights Act. Establishing new requirements that will...more
The idea of student loan forgiveness has caught the attention of many borrowers and sparked lots of discussions. If you're wondering how this might affect your taxes, you're not alone. It's important to know the rules and...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
On July 20, 2023, the CFPB published a report concerning the risks posed to consumers by employer-driven debt. Employer-driven debt is any form of financing arrangement where an employer extends credit or a lease to an...more
Supreme Court Blocks Use of Race in Harvard, UNC Admissions in Blow to Diversity Efforts - "In one of its most closely watched cases this year, the court ruled along ideological lines that the way the schools approached race...more
Congress created a temporary employee benefit under the CARES Act that allows employers to contribute up to $5,250 per year against employee student loan repayments. These payments can be excluded from taxable income and are...more
The Mississippi Supreme Court recently rejected federal preemption arguments relating to federally owned student loans. This follows other preemption rulings, as we’ve discussed here and here. Mississippi’s attorney...more
Public agency employers trying to recruit or retain highly skilled or highly paid younger workers (e.g., doctors, nurses, IT specialists, engineers) may want to take advantage of a limited employer-paid benefit under the...more
The Coronavirus Aid Relief and Economic Security Act (the “CARES Act”), signed into law on March 27, 2020, provides employers with a new mechanism to assist their employees with repayment of student loans. Section 2206 of the...more
Sen. Elizabeth Warren (D-Mass.) and Sen. Sherrod Brown (D-Ohio) have released a proposal calling on Congress to provide additional protections for consumers during the COVID-19 pandemic. Their proposal notes that an...more
A new rule under the CARES Act could be beneficial for employees with outstanding student loan debt, and even provide some cost savings for employers as well. The CARES Act expanded the scope of Educational Assistance...more