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?

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 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.

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


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.

Fed Data Analyzes Debt Patterns by Race, Gender, Education

Account Recovery

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.

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.

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.

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.

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


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.

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


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.

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.

Dept of Education approves $238 million group discharge for 28,000 Marinello Schools of Beauty borrowers

Public Citizen

The Department of Education announced it will discharge the loans of tens of thousands of borrowers harmed by pervasive and widespread misconduct at Marinello Schools of Beauty. Borrowers who enrolled in the schools from 2009 through its closure in February 2016 will receive loan discharges totaling approximately $238 million. This group discharge includes former students who have not yet applied for a borrower defense discharge. The Department's press release is here

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.

Education: Governor Murphy’s Expansion of Eligibility for COVID-19 Vaccination Includes Individuals with Intellectual and Developmental Disabilities Over the Age of 16

Price Meese

Education: Governor Murphy’s Expansion of Eligibility for COVID-19 Vaccination Includes Individuals with Intellectual and Developmental Disabilities Over the Age of 16. THE EDUCATION LAW GROUP. Virtual consultations and assistance available for any and all educational needs.

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.

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.

CSA appoints education and apprenticeships specialist


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.?

University gets help from top Debt Collection firm to educate students

UK debt collections

The UK’s largest University has called upon a leading UK Debt Collection Agency for help with course content for its students. It is seen a major boost in credibility for the industry and the acceptance of the role Debt Collection Agencies have to play in modern UK Business.

FCA Proud to Offer Live, In-Person Networking and Educational Opportunities at Annual Conference

Account Recovery

The event will be a joint live/virtual conference, offering everyone in the industry with the chance to participate in person or via their … The post FCA Proud to Offer Live, In-Person Networking and Educational Opportunities at Annual Conference appeared first on AccountsRecovery.net.

Department Of Education Moves To Make Owners, Investors, And Controlling Parties Responsible For College And University Liabilities

Collection Industry News

Department of Education (“Department”) announced a significant new policy that, in some cases, will require owners, investors, and controlling parties of private colleges and universities to guarantee the regulatory liabilities of the school. This policy extends to all private institutions, including both proprietary and non-profit institutions of higher education, and will be of significant concern for any entity that presently owns or controls a private, postsecondary institution.

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.

State Attorneys General File Suit Against U.S. Department of Education

Troutman Sanders

Department of Education (the “Department”) and Secretary of Education Betsy DeVos (the “Secretary”). Earlier this month, California Attorney General Xavier Becerra and Massachusetts Attorney General Maura Healey led a group of twenty-three attorneys general in a lawsuit against the U.S.

CFPB Private Education Loan Ombudsman Issues 2020 Annual Report

Consumer Finance

On October 28, 2020, the Consumer Financial Protection Bureau Private Education Loan Ombudsman issued the 2020 Annual Report, which shows that that from September 1, 2019, through August 31, 2020, the Bureau handled approximately 7,000 complaints related to private or federal student loans.

Department of Education Announces Automatic Student Loan Cancellation for Disabled Borrowers

Troutman Sanders

The Department of Education (Department) has announced that individuals who have a total and permanent disability (TPD) will have their unpaid student loans automatically discharged without having to file any paperwork. Secretary of Education Miguel Cardona in a statement.

Second Circuit Disallows Private Educational Loans from Discharge Under 11 U.S.C. § 523(a)(8)(ii)


Sallie Mae , the United States Court of Appeals for the Second Circuit held that private educational loans may be discharged under § 523(a)(8)(ii) of title 11 of the United States Code (the “Bankruptcy Code”). [1] 1] Homaidan funded his college education, in part, with two private tuition loans from Navient that totaled $12,567. [2] 5] The bankruptcy court rejected that argument and held not “all education related debt” need to satisfy the undue hardship requirement. [6]

10 Easy High-Income Skills You Can Learn [without a College Education]

Credit Corp

Because these specialized skills need formal education, it’s understandable why they demand a high income. However, did you know there are skills you can learn to generate six figures without a formal education?

Dep't of Education ordered to cancel student loans of all former Corinthian Colleges students in MA

Public Citizen

"A federal judge has ordered the Department of Education to cancel the student loans of all 7,200 former Corinthian Colleges students in Massachusetts. DeVos comes nearly two years after the Department of Education was ordered to stop collecting on the borrowers’ loans because they were covered by a borrower defense application that was filed by the Massachusetts Attorney General.

Consumer Financial Protection Bureau Announces Podcast Series on Paying for Higher Education

Consumer Finance

The Consumer Financial Protection Bureau today released the first episodes of a two-part podcast series for students, parents, and practitioners on managing finances before, during, and after college. Press release Student loans Students

Education Department Extends Navient Student Loan Servicing Contract, But Not FedLoan

Collection Industry News

Department of Education’s loan servicing system. FedLoan Servicing — the Department of Education servicing wing of the Pennsylvania Higher Education Assistance Agency (PHEAA) — was not granted a two-year contract extension. The Department has agreed to a two-year extension of servicing contracts for other major federal student loan servicers including Great Lakes Higher Education, HESC/Edfinancial, MOHELA, Nelnet. Source: site. Student Loan Servicing Changes.

CSA seeks Independent Non-Executive Director (Specialism in Further Education and Apprenticeships)


Job Description Post: Independent Non-Executive Director (Specialism in Further Education and Apprenticeships). About the Role The Association is looking for an Independent Non-Executive Director with a specialism in Further Education, particularly in Apprenticeships, to offer strategic direction and bring industry experience to the Board of the Association. Term: 2 Years, due to commence in Spring 2021. Remuneration: ?7,000 7,000 per annum.

Former Student Falsely Accused of Sexual Misconduct Wins $5.3 Million Jury Award for Defamation and Civil Conspiracy


Kauffman is a Shareholder at Fraser Trebilcock with more than a decade of experience handling complex litigation matters and representing higher education institutions. A jury in South Carolina awarded a former Clemson University student $5.3

Third Circuit Court of Appeals Rules that University can be Held Liable Under Title IX for On-Campus Murder by Nonstudent Guest


Monroe County Board of Education. Kauffman is a Shareholder at Fraser Trebilcock with more than a decade of experience handling complex litigation matters and representing higher education institutions. Higher Education college colleges higher education higher education institutions Third Circuit Court of Appeals title ix

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

Account Recovery

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

Ed. Secretary Commits to Further Student Loan Collection Reforms

Account Recovery

The Department of Education will continue to reform how student loan debts are collected while strengthening oversight and enforcement, according to a published report citing a letter that was written by Education Secretary Miguel Cardona to a pair of leading Senate Democrats.