Student Loans and Mortality: H.R. 5458 - Christopher Bryski Student Loan Protection Act

From Mary Pilon, When Student Loans Live On After Death , Wall Street Journal, August 7, 2010 : As the college season nears, throngs of parents and students still are applying for private student loans, long used by students as an alternative to federal loans. But they may be unaware that in cases...

Student Loans: New CFPB Initiatives Launched; Changes to Federal Rules Announced

by the Consumer Financial Services Group Student loans were recently in the spotlight with the launch by the Consumer Financial Protection Bureau (CFPB) of a new "Know Before You Owe" project and online tool, and the Obama administration's announcement of proposed federal rule changes...

The CFPB Announces Public Comment Period for Student Loans

by Troutman Sanders CFPB Team On November 16, 2011, the Consumer Financial Protection Bureau (CFPB) announced the next step in its student loan initiative with its Notice and Request for Information Regarding Private Education Loans and Private Educational Lenders . Pursuant to the Dodd-Frank Wall...

Sallie Mae Reaches $24M Settlement in Telephone Debt Collection Class Action

SEATTLE - (Mealey's) Student loan borrowers and a subsidiary of SLM Corp. on Sep. 17 agreed to settle claims that the subsidiary violated the Telephone Consumer Protection Act (TCPA) by making a number of non-emergency autodialed calls and/or automated text messages to the borrowers' cellular...

State Net Capitol Journal – October 22, 2012

Budget & Taxes TAX DODGERS DOGGING CA: California's budget is so in the red that Gov. Jerry Brown (D) has placed a multi-billion tax measure on the state's November ballot to try to avoid having to make deep cuts to education and public safety funding. But one reason the state is in...

State Net Capitol Journal – October 22, 2012

Budget & Taxes TAX DODGERS DOGGING CA: California's budget is so in the red that Gov. Jerry Brown (D) has placed a multi-billion tax measure on the state's November ballot to try to avoid having to make deep cuts to education and public safety funding. But one reason the state is in such...

Your Social Security Is Not Safe from Unpaid Student Loan Debts

Thousands of retirees are learning today that defaulting on student-debt can threaten something that used to be untouchable: their Social Security benefits . The federal government is withholding money from a rapidly growing number of Social Security recipients who have fallen behind on federal student...

Ballard Spahr Alert: CFPB Issues Proposal To Supervise Student Loan Servicers

The Consumer Financial Protection Bureau has issued a proposal to supervise nonbank servicers of private and federal student loans who qualify as "larger participants" in the student loan servicing market. Comments on the proposal will be due 60 days after its publication in the Federal...

Nonbank Student Loan Servicers Now Subject to Consumer Financial Protection Bureau Oversight

The Consumer Financial Protection Bureau (CFPB) has issued a rule that allows it to supervise certain nonbank student loan servicers for the first time. The rule brings new oversight to the nation’s second largest consumer debt market – student loans – which have seen a rise in borrower...

New York Launches Investigation into Student ‘Debt Relief’ Industry

New York’s newly established Student Protection Unit has taken its first official action – it has issued subpoenas to 13 student debt relief companies as part of an investigation into concerns about potentially misleading advertising, improper fees, and other consumer protection problems...

CFPB Continues Focus on Student Loans, Opening Complaint and Feedback Tool for Servicemembers and Veterans

by Chais L. Sweat In its continuing effort to ramp up oversight of student loans, on January 30, 2014, the CFPB announced the opening of a new online student complaint system specifically for servicemembers, veterans, and their families to report negative experiences at education institutions and...

CFPB Sues ITT Educational Services for Predatory Lending Practices

by Zafreen J. Husain On February 26, 2014, the Consumer Financial Protection Bureau (CFPB) filed a four-count complaint in the U.S. District Court for the Southern District of Indiana against for-profit college chain, ITT Educational Services, Inc. (ITT), alleging that ITT engaged in predatory student...

CFPB Issues Consumer Advisory and Sample Letters in Response to Mid-Year Report on Student Loan Complaints

by M. Catherine Wilcox The Consumer Financial Protection Bureau (CFPB) recently released a report on student loan complaints. Specifically, the report highlights complaints concerning co-signer issues on student loans. Many private student lenders advertised that their loans contained an option to...

Dischargeability of Student Loans in Bankruptcy

This is a paper that I wrote for the Commercial Law League Spring Meeting on April 25, 2014. The Commercial Law League, which is a national creditors’ rights organization, is debating whether to support greater dischargeability of student loans. Dischargeability of Student Loans in Bankruptcy...

CFPB Releases Report and Resources on Student Loan Repayment

by Karen L. Courtheoux This week, the Consumer Financial Protection Bureau (CFPB) reaffirmed its focus on the problem of intractable student loan debt. On October 16, 2014, the CFPB Student Loan Ombudsman released his Annual Report , which described the number and nature of student loan complaints...

FDCPA Class Certified in a Seemingly Individualized Dispute over Repayment Options Calculation

by Maryia Y. Jones and David N. Anthony In Alexander v. Coast Professional, Inc. , No. 12-cv-1461, (E.D. Pa. Sept. 5, 2014), the United States District Court for the Eastern District of Pennsylvania certified a class of Pennsylvania residents with defaulted student loans serviced by Coast Professional...