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Student Loans › Consumer Financial Products › Educational Institutions

Ballard Spahr LLP

Department of Education Faces Major Setback in SAVE Litigation

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In an unsigned order dated August 9, 2024, the U.S. Court of Appeals for the Eighth Circuit signaled its frustration with the U.S. Department’s ongoing efforts to proceed with implementation of its much-debated SAVE repayment...more

Saul Ewing LLP

CFPB Finds For-Profit Coding School Misrepresented Nature of Its Lending Products and Job Placement Rates

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The Consumer Financial Protection Bureau continues to expand its presence into different businesses, including for-profit colleges. On April 17, 2024, the CFPB issued a consent order against a for-profit college for computer...more

Spilman Thomas & Battle, PLLC

The Academic Advisor - Education Law Insights, Issue 10, December 2023

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In this final edition of the year, we cover the following issues of import for educational institutions: - CFPB scrutiny of college-sponsored financial products; - Changes ahead for Title IV program participants and...more

Ballard Spahr LLP

Nevada enacts licensing requirement for private education loan lenders and servicers

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The Nevada Legislature recently passed Assembly Bill 332 (“AB 332”), which amends Nev. Rev. Stat. Title 55 relating to Banks and Related Organizations to add a new chapter regulating Private Education Lenders and Student Loan...more

Spilman Thomas & Battle, PLLC

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

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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

Ballard Spahr LLP

Illinois enacts law to fund income share agreements; distinguishes them from loans

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Illinois’ Democratic legislature recently passed, and its progressive Democratic Governor, J.B. Pritzker, recently signed into law, the Student Investment Account Act, which establishes a Student Investment Account to be...more

Hogan Lovells

Third time's the charm? – U.S. Department of Education issues additional Q&A on implementation of 2016 "borrower defense to...

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The U.S. Department of Education (ED) has issued additional guidance in the form of several supplemental "questions and answers" related to implementation of ED's 2016 "borrower defense to repayment" regulations (BDTR...more

Bradley Arant Boult Cummings LLP

Administration Seeks to Up the Bar for Student Loan Forgiveness Based on Fraud

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The Trump administration is looking to stiffen the criteria for borrowers to obtain forgiveness of their student loans based on fraud. If enacted, this higher criteria would mark a significant shift for students who seek...more

Ballard Spahr LLP

Minnesota Supreme Court rules schools needed lending license to make student loans

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The Minnesota Supreme Court recently ruled that two for-profit postsecondary education schools had charged usurious interest rates on student loans and could not charge rates greater than 8% without obtaining a lending...more

Ballard Spahr LLP

CFPB enters into consent order with for-profit college owner

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The CFPB announced that it has entered into a consent order with Bridgepoint Education, Inc., the owner of two for-profit colleges, to settle charges that the company’s representatives engaged in deceptive acts or practices...more

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