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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. A copy of the proposed rulemaking can be accessed by clicking here. The post Dept.

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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.

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Fed Data Analyzes Debt Patterns by Race, Gender, Education

Account Recovery

For anyone who has ever watched a movie or television show featuring someone trying to solve a crime, invariably there is a scene or even multiple scenes where the detective tries to “get inside the head” of the criminal, in order to understand his or her motivation, and to uncover what actually happened at the … The post Fed Data (..)

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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. For example, the site estimates … The post Education Dept.

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Employers Need Education on Student Loan Garnishments

Account Recovery

While still a few months off on the horizon, the date on which individuals with unpaid student loans may start seeing their paychecks and bank accounts garnished is approaching. And it’s important for everyone in the process to refresh themselves on where things stand and what is likely to happen in October when the one-year […]

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Debtor Education Course After Filing for Bankruptcy

Sawin & Shea

Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. Debtor education classes provide customized guidance based on your unique circumstances. Since then, bankruptcy filers have been required to take both a bankruptcy credit counseling course and a debtor education course.

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Department of Education Cancels $5B More in Unpaid Student Loans

Troutman Sanders

Department of Education (ED) recently announced the approval of an additional $4.9 The ED also stated that it is beginning to expedite further loan forgiveness through the early implementation of the Saving on a Valuable Education Plan (SAVE). billion in student loan forgiveness for 73,000 individuals. million borrowers.