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Student loans

Jan 7, 2019

ACS’s $9 million settlement in New York places a spotlight on problems in student loan servicing

ACS Education Services, a company that once managed one of the largest portfolios of student loans, will pay New York $9 million to resolve charges of steering struggling borrowers away from affordable repayment plans, state officials said Friday. “ACS has systematically failed borrowers by refusing to educate them on more effective federal repayment options, and […]

Dec 22, 2016

ABA sues Department of Education over loan forgiveness

BALTIMORE — The American Bar Association filed suit this week against the U.S. Department of Education, alleging the department failed to provide a reasonable explanation for why it has decided to refuse to honor loan forgiveness commitments made to attorneys engaged in public interest law and other public service jobs. The suit names four individual […]

Oct 28, 2016

It’s about to get harder to seek student debt relief

A new rule finalized Friday by the Obama administration will cost student debtors who say their colleges defrauded them of some longstanding rights to get their federal loans canceled, while colleges on shaky financial footing dodged a government crackdown. Those regulations, proposed in June, mark the administration’s response to the spate of closures of for-profit […]

Nov 18, 2015

More borrowers taken to court over student loans

HARTFORD, Conn. — Fall behind on your student loans these days and you could end up getting more than hectoring phone calls and threatening letters. Some lenders are taking more people to court, attorneys say. The number of lawsuits filed over delinquent student loans that were made by private lenders has increased significantly in the […]

Jul 8, 2013

Immigration, student loans top Congress’ plans

WASHINGTON — Congress returned Monday to potentially incendiary fights over nominations, unresolved disputes over student loans and the farm bill, and the uncertainty of whether lawmakers have the political will to rewrite the nation’s immigration laws. The cooperation evident in the Senate last month with passage of a bipartisan immigration bill could be wiped out […]

Apr 11, 2012

Schumer backs bill to block interest rate hikes for student loans

U.S. Sen. Charles E. Schumer visited Rochester Institute of Technology on Wednesday to announce his support for legislation to stave off an interest rate increase for student loans. On July 1, the interest rates on federally-subsidized Stafford loans will double from 3.4 percent to 6.8 percent unless Congress takes action to block the rate increase […]

Nov 9, 2011

NYSBA offers grants to help repay student loans

Government and public interest lawyers burdened by student loan debt can apply for grants through the New York State Bar Association. Attorneys must have practiced for at least five years to be eligible for the Steven C. Krane Special Committee on Student Loan Assistance for the Public Interest grants. Priority will be given to civil […]

Sep 2, 2010

NY colleges alerted to students’ crushing debt

New York State Attorney General Andrew M. Cuomo on Thursday announced a statewide investigation into what he calls deceptive credit card marketing practices that target college students through their schools.

Jul 14, 2010

Second Circuit: Borrower not bound by arbitration clause

(Dolan Media Newswires) — A borrower seeking class-wide relief was not required to arbitrate a lawsuit alleging that his lender charged excessive interest rates for student loans, the Second Circuit has ruled.

Mar 30, 2010

Health, student loan changes finalized

WASHINGTON, D.C. — Finalizing two major pieces of his agenda, President Barack Obama on Tuesday sealed his health care overhaul and made the government the primary lender to students by cutting banks out of the process.

Mar 24, 2010

Student loan discharge upheld

Even though the bankruptcy discharge of student loans require a finding of undue hardship in an adversarial proceeding, a lender cannot challenge the discharge of a loan absent such a finding if it was not appealed in a timely manner, the U.S. Supreme Court ruled this week.

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