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Bill Introduced in House to Allow Use of CFPB’s Fines to Fund Consumer Education Programs

Account Recovery

A bipartisan bill has been introduced in the House of Representatives that would allow the Consumer Financial Protection Bureau to use money it receives from fines assessed in enforcement orders to fund financial education programs in schools, libraries, and non-profit organizations nationwide.

Education 245
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Dept. of Education Announces Proposal to Change Repayment Plans on Student Loans

Account Recovery

The Department of Education yesterday announced a proposed rule that aims to lower the student loan payments being made by those with student loan debt, while completely pausing payments for individuals who make less than $30,600 per year.

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Fed Data Analyzes Debt Patterns by Race, Gender, Education

Account Recovery

Education 246
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Education Dept. Rolls Out New Loan Forgiveness Website

Account Recovery

The Department of Education has unveiled a new website aimed at helping individuals who are seeking debt relief after being defrauded by a college, but critics of the administration’s efforts say the changes are mostly cosmetic, according to a published report.

Education 246
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Average American Net Worth by Age Group, Education, and More

Credit Corp

Here, we’ll go over the average American net worth by age, education, household type, and more. As we’ll cover in upcoming sections, education, family structure, race, and more all statistically influence net worth.

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Holiday Survival Strategies From 5 Financial Educators

Nerd Wallet

The article Holiday Survival Strategies From 5 Financial Educators originally appeared on NerdWallet. For Ryan Decker, surviving the holiday shopping season is all about planning ahead.

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What Is a Coverdell Education Savings Account?

Nerd Wallet

A Coverdell education savings account is a tax-advantaged trust or custodial account used to save for educational expenses. The article What Is a Coverdell Education Savings Account? What is a Coverdell ESA?

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CFPB Prioritizing Enforcement Over Education

Troutman Sanders

Chopra said that while there is value in educating consumers to spot risks and find trustworthy advice, financial products are inherently challenging to understand. Kraninger listed education as the “first tool” in the CFPB’s toolbox in preventing consumer harm.

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Director Chopra’s Prepared Remarks to the Financial Literacy and Education Commission

Consumer Finance

Director Chopra delivered opening remarks to the Financial Literacy and Education Commission on July 14, 2022. Speech Financial education Partnerships Financial well-being

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Continuous Financial Education for Women Small Business Owners

Fico Collections

Continuous Financial Education for Women Small Business Owners. FICO-hosted panel at NAWBO’s 2022 Advocacy Days discusses how financial education impacts access to capital and business growth for small businesses.

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CESI: Consumer Education Services Inc. Review 2020

Nerd Wallet

Consumer Education Services Inc. The article CESI: Consumer Education Services Inc. offers many common credit counseling services by phone or online, including debt management plans, student loan counseling and housing counseling.

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Verto Education Review: Gap Year Program

Nerd Wallet

The bottom line: Verto Education is a gap year program provider that partners with colleges to enable students to take a gap year and still graduate on their original four-year timeline. The article Verto Education Review: Gap Year Program originally appeared on NerdWallet.

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FICO's National "Score A Better Future" Credit Education Program Reaches Milestone

Fico Collections

When we launched FICO’s “Score A Better Future” program in October 2018, our main goal was to continue to expand consumer credit access through financial education.

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Director Chopra’s Prepared Remarks to the Financial Literacy and Education Commission

Consumer Finance

CFPB Director Chopra’s remarks, as prepared for delivery, at a meeting of the Financial Literacy and Education Commission. Speech Consumer complaints Virtual currency Financial education Fraud and scams

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Can Higher Education Institutions Make COVID-19 Vaccinations Mandatory for Students?

Fraser

It’s not the first university to make such a pronouncement, and almost certainly will not be the last, which raises an interesting question: Can higher education institutions legally mandate vaccinations? As of May 6, 2021, according to the Chronicle of Higher Education , 225 schools have made vaccinations mandatory. It is also important to note that, even if a higher education institution mandates vaccinations, exemptions may apply.

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CFPB Signals Increased Scrutiny Over Education Lenders

Troutman Sanders

On April 18, the Consumer Financial Protection Bureau (CFPB or Bureau) published a blog post , scrutinizing the practice of withholding transcripts from students with delinquent accounts and who are attending an institute of higher education.

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New Congressional Bill Would “Encourage” Higher Education Institutions to Remove Criminal History Questions from Admissions Processes

Fraser

In August, Senator Brian Schatz introduced the Beyond the Box for Higher Education Act (Senate Bill 2634) in the U.S. Department of Education would be responsible for issuing ??guidance This legislation comes on the heels of other federal efforts, affecting higher education and businesses more broadly, to open up access to resources to incarcerated individuals and destigmatize criminal history.

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Education Department Not Ready For Student Loan Forgiveness

Collection Industry News

Department of Education is not ready for student loan forgiveness — a top lawmaker says — and the results could be a disaster for student loan borrowers. . Department of Education ready to enact wide-scale student loan forgiveness? “We We are prepared, we’re ready to roll up our sleeves… we’ve been working nonstop,” Education Secretary Miguel Cardona told Politico last week. Education Department announces major overhaul of student loan servicing. Source: site.

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Department Of Education To Overhaul Federal Student Loan Servicing Systems

Collection Industry News

The Department of Education is preparing a major overhaul for the current student loan servicing systems. ( iStock ). The Department of Education recently announced that it will overhaul its current federal student loan servicing systems, giving more power to borrowers to easily manage their student loans. If you are struggling to repay your education debt, you could consider refinancing your private student loans to reduce your monthly payments. Source: site.

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Education Department announces revamp of its student loan program

Collection Industry News

In hopes of providing federal student loan borrowers with a 21st-century customer experience, the Department of Education’s (DOE) Federal Student Aid (FSA) office has announced that it is building out a long-term loan servicing solution called Unified Servicing and Data Solution (USDS). More than 35 million borrowers with federally managed student loans are counting on us to help them achieve their life goals through higher education.”. education Educational News

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Back to School Finances for Parents: How to Finance Your Child’s Education

Credit Corp

The cost at private higher education institutions can run more than double that. Paying for K–12 Educational Expenses for Your Child. Funding a College Education. Financial planning for higher education should start well before your child is ready to move out.

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U.S. Senate Passes the United States Innovation and Competition Act Which Would Allocate Billions Toward Higher Education Institutions

Fraser

A significant amount of funding is aimed at institutions of higher education. The bill contains several higher-education provisions to facilitate research and development in the “key-technology focus areas,” including robotics, artificial intelligence, advanced energy sources, advanced computing, natural disaster prevention or mitigation, biotechnology and data storage and management. On June 8th, 2021, the U.S.

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Education Department to begin beta testing for student loan forgiveness application

Collection Industry News

A preview of the application earlier this week suggested a full rollout could come as soon as next week, higher education expert Mark Kantrowitz said. This testing period will allow the department to monitor site performance through real-world use, test the site ahead of the official application launch, refine processes and uncover any possible bugs prior to official launch,” an Education Department spokesperson told CNBC in an emailed statement. education Educational News

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Department of Education Announces Required Cybersecurity Updates for Postsecondary Institutions to Comply with the Safeguards Rule

Troutman Sanders

According ED’s announcement, institutions provide a financial service when they, among other things; make institutional loans, including income share agreements ; or certify or service a private education loan on behalf of a student. On February 9, the U.S.

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University Credit Union and UC San Diego Announce Partnership In Support of California Higher Education

Collection Industry News

The partnership will seek further success within the California higher education sector by directly supporting students, employees, alumni and retirees of UC San Diego through community-oriented financial services and access to the full-range of benefits provided to all members of UCU. “As UCU’s core purpose is to give members a financial advantage in life, and with their promise to advocate, educate and innovate, UCU is an industry-leading financial partner to university communities.

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Nicole Keefe Selected to Board of Nashville Education Non-Profit

Burr Forman

Burr & Forman’s Nicole Keefe has been selected to serve a 3-year term as a Board Member for PENCIL, or Public Education Needs Community Involvement & Leadership. The post Nicole Keefe Selected to Board of Nashville Education Non-Profit appeared first on Burr & Forman.

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Remarks by U.S. Secretary of Education Miguel Cardona on Nation’s Report Card

Collection Industry News

As your Secretary of Education, I want to be very clear: the results in today’s Nation’s Report Card are appalling and unacceptable—they are a reminder of the impact this pandemic had on our learners, and the important work we must do now for our students. This is a moment of truth for education. But let’s also be very clear: the data prior to the pandemic did not reflect an education system that was on the right track. We must raise the bar in education!

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Travis Credit Union to offer free youth financial education at Diablo Valley College

Collection Industry News

The post Travis Credit Union to offer free youth financial education at Diablo Valley College appeared first on Collection Industry News. education Educational NewsSource: site. Adulting can be challenging when it comes to finances. That’s why Travis Credit Union (TCU) is offering an in-person Mad City Money Youth Financial Boot Camp, designed to prepare the next generation with personal finance skills for the workforce.

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States lack standing to challenge the Dept of Education's plan to relieve student debt

Public Citizen

Yesterday evening, a federal court in Missouri dismissed a challenge by six states (Nebraska, Missouri, Arkansas, Iowa, Kansas, and South Carolina) to the Department of Education's plan to cancel $10,000 (or $20,000 for Pell grant recipients) of federal student-loan debt.

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Biden’s Education Department Proposes $85 Billion In New Student Loan Cancelations

Collection Industry News

But behind the scenes, Biden’s Department of Education has canceled tens of billions of dollars by turbocharging existing loan forgiveness programs. In each of these cases, Congress has authorized a specific avenue for loan forgiveness and left the details to the Department of Education. The Education Department’s proposed expansion of loan forgiveness represent an enormous expenditure of taxpayer dollars without Congressional approval. education Educational News

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Former CFPD-director Cordray going to the Department of Education

Public Citizen

Department of Education announced today that Richard Cordray will be its Chief Operating Officer of Federal Student Aid. Federal Student Aid is responsible for managing the student financial assistance programs authorized under Title IV of the Higher Education Act of 1965, including grants, work-study and loans for students attending college or career school. The U.S.

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Dep't of Education announces student-loan forgiveness of disabled borrowers

Public Citizen

The Department of Education announced yesterday: "Over 323,000 borrowers who have a total and permanent disability (TPD) will receive more than $5.8 Department of Education. billion in automatic student loan discharges due to a new regulation announced today by the U.S. The change will apply to borrowers who are identified through an existing data match with the Social Security Administration (SSA). It will begin with the September quarterly match with SSA.

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CSA appoints education and apprenticeships specialist

CSA

The CSA has further invested in its Learning & Development offering with the appointment of education specialist, Jane Peacock. She will specialise in Further Education and Apprenticeships, bringing a fresh perspective to help shape qualifications and ensure they are fit for the future. experience in the education sector. Her most recent role was within the Department for Education?s s familiarity with best practice in further education will be a real asset.?

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Debit Cards for Kids: 6 Tips for Using These Financial Education Tools

Credit Corp

When you’re looking for a debit card for your child, consider the following factors: Some debit cards for kids might require a small fee for online portals that let you review your child’s spending or teaching tools that help educate children about money management.

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Ed. Dept. Expands Moratorium on Collection of Defaulted Student Loans

Account Recovery

Student Loans Department of Education Federal Family Education Loan FFEL Miguel Cardona