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Cordray Lays Out Changes Coming to Student Loan Servicing Sites

Account Recovery

The Department of Education’s Federal Student Aid is planning to release “an entirely new federal student loan servicing environment” in 2024, according to FSA’s chief operating officer, Richard Cordray, who laid out the changes that are coming in a blog post yesterday.

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Sen. Warren Convenes Hearing to Grill Student Loan Servicer

Account Recovery

One of the nation’s largest servicers of student loans is being called before the Senate Banking Committee for a hearing about its performance, following a report that was critical of the servicer’s efforts.

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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.

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Millions Still Not Making Payments on Student Loans

Account Recovery

Nearly nine million people who have student loans have not yet made a payment after the moratorium on student loan payments ended three months ago, according to a published report that cited information from the Education Department.

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Judge Dismisses Suit Challenging Student Loan Forgiveness Plan

Account Recovery

A District Court judge in Michigan has dismissed a lawsuit that challenged an initiative from the federal government seeking to forgive $39 million of student loan debt, determining the plaintiffs lacked standing to sue. Well, that didn’t take very long.

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Ed. Dept. Cancels $1.2B More in Student Loans

Account Recovery

billion of student loans for 153,000 borrowers who are eligible for shortened time to forgiveness under President Biden’s Saving on a Valuable Education (SAVE) Plan. The Department of Education announced this week that it is forgiving another $1.2

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Ed. Dept. Cancels $5B More in Unpaid Student Loans

Account Recovery

billion of unpaid student loans for 73,000 individuals as a result of adjustments to the income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF) programs. billion of student loans for 3.7 The federal government on Friday announced it had approved the forgiveness of $4.9