Account Recovery

JANUARY 22, 2024

The federal government on Friday announced it had approved the forgiveness of $4.9 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 million individuals.

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Student loans Student Loans Loans Government 130

Account Recovery

OCTOBER 3, 2022

The legal challenges to the federal government’s plan to cancel student loan debt for individuals making less than $125,000 a year have started, with a pair of suits claiming the administration failed to take the proper steps before announcing the plan.

Student loans 241

Student loans Student Loans Loans Government 241

Account Recovery

JUNE 22, 2022

A bill has been introduced in the House of Representatives that, if enacted, would prohibit the federal government from cancelling or forgiving federal student loans because the government does not have the authority to do so and because it’s “unfair for taxpayers who paid student loans or did not attend college to pay for those … (..)

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Student loans Student Loans Loans Government 246

Account Recovery

AUGUST 25, 2022

Surprising nobody yesterday, President Biden announced that the federal government will forgive up to $10,000 in student loan debt for anyone making less than $125,000 per year and up to $20,000 for anyone with a Pell grant, while also extending the moratorium on making student loan payments through the end of the year.

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Student loans Student Loans Loans Government 246

Account Recovery

SEPTEMBER 28, 2022

The Biden Administration’s student loan debt cancellation plan will cost the government $400 billion, according to a report released yesterday by the nonpartisan Congressional Budget Office.

Student loans 241

Student loans Student Loans Loans Government 241

Account Recovery

OCTOBER 17, 2022

While the federal government still works out all the kinks related to its plan to forgive student loan debt for individuals, the rest of the country is already moving on to the next type of debt they want to see forgiven — medical debt.

Student loans 245

Student loans Student Loans Loans Government 245

Account Recovery

APRIL 7, 2022

As expected, the federal government yesterday announced that it was extending the moratorium on making student loan payments for an additional four months — to August 31 — but added in an extra wrinkle that will impact those in the accounts receivable management industry: The 7 million borrowers who are in default on their student … (..)

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Student loans Student Loans Loans Accounts Receivables Management 245

Account Recovery

DECEMBER 23, 2021

Back in August, the government announced a … The post Student Loan Repayment Moratorium Extended Until May appeared first on AccountsRecovery.net. As a parent, one of the most important lessons I have learned is that don’t say something unless you mean it and intend to follow through on it.

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Student loans Student Loans Loans Education 245

Account Recovery

MAY 31, 2022

There are more than 7 million individuals who have defaulted on their federal student loans, and the current moratorium on making student loan payments is those individuals’ best shots at getting back in good standing, especially with published reports indicating that another extension of the moratorium is likely and that the federal government (..)

Student loans 243

Student loans Student Loans Loans Government 243

Account Recovery

AUGUST 7, 2023

A lawsuit was filed on Friday by the New Civil Liberties Alliance against the federal government, seeking to block a plan that would forgive $39 billion of student loan debt, claiming the violates the Appropriations Clause of the Constitution because only Congress has the authority to cancel debts owed to the Treasury Department.

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Student loans Student Loans Loans Government 130

Account Recovery

AUGUST 26, 2022

The federal government, noting it has “a responsibility to set the standard for how medical debt is treated,” announced yesterday that it is instructing its agencies with direct loan and guarantee programs to “wherever possible” reduce the impact of medical debt when making underwriting decisions.

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Loans Government Collections 246

Account Recovery

APRIL 6, 2022

The White House is expected to announce as soon as today that it will once again extend the moratorium on student loan payments, this time pushing the deadline out another four months to August 31.

Student loans 242

Student loans Student Loans Loans Government 242

Account Recovery

NOVEMBER 23, 2022

GOVERNMENT EXTENDS PAUSE ON STUDENT LOAN PAYMENTS UNTIL LEGAL CHALLENGES ARE RESOLVED The Biden Administration yesterday announced it was extending the moratorium on student loan payments until 60 days after litigation surrounding the plan to forgive up to $20,000 in unpaid student loans is resolved.

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Student loans Student Loans Judgment Loans 246

Account Recovery

AUGUST 23, 2021

The Chief Executive of one of the nation’s largest student loan servicing companies is being accused of lying in testimony before Congress, as the companies winds down its operations servicing student loans on behalf of the federal government.

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Student loans Student Loans Loans Education 246

Account Recovery

JUNE 22, 2022

Bill Introduced to Prohibit Student Loan Cancellations; Court Certifies Class in ADA Suit Over Site’s Inaccessibility appeared first on AccountsRecovery.net.

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Student loans Student Loans Loans Government 246

Account Recovery

FEBRUARY 16, 2022

The Department of Education has announced it will suspend the seizure of tax refunds, Social Security payments, and other government payments to collect on defaulted student loans through November. Will Not Use Tax Refunds, Social Security to Collect on Defaulted Student Loans Until November appeared first on AccountsRecovery.net.

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Student loans Student Loans Loans Education 246

Account Recovery

JULY 3, 2023

The Supreme Court — in a 6-to-3 vote — on Friday struck down a plan from the Biden Administration to cancel as much as $20,000 in student loans for borrowers making under $125,000 a year, saying that the federal government exceeded its authority with the plan, saying that under the government’s interpretation of the Higher […] (..)

Student loans 130

Student loans Student Loans Loans Government 130

Account Recovery

MARCH 31, 2023

Not content with hoping that the Supreme Court will strike down a program started by the federal government to wipe out as much as $20,000 in student loan debt for individuals, a number of Republicans have started the process of using the Congressional Review Act to keep the program from ever being implemented.

Student loans 130

Student loans Student Loans Loans Government 130

Account Recovery

JUNE 1, 2021

Previously, state attorneys … The post Cordray Signs Off on Policy Making it Easier for Student Loan Companies, Collectors to be Investigated appeared first on AccountsRecovery.net.

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Student loans Student Loans Loans Education 246

Account Recovery

AUGUST 17, 2021

A pair of national consumer advocacy groups are calling on the federal government to cancel student loan debts “across-the-board” as a means of helping individuals improve their financial futures, after analyzing more than 400,000 loans being serviced by Navient.

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Student loans Student Loans Loans Government 246

Consumer Finance

APRIL 9, 2024

CFPB Director Rohit Chopra provided remarks at Rutgers Law Center School Center for Corporate Law and Governance on student-loan securitization.

Government 52

Government Student loans Student Loans Loans 52

Troutman Sanders

FEBRUARY 12, 2024

Kirtz , holding that the Fair Credit Reporting Act’s (FCRA) clear statutory text indicates a government agency can be sued for a FCRA violation. Third, and Seventh Circuits have allowed FCRA litigation against government agencies, but the Fourth and Ninth Circuits have found governmental immunity prevents such suits.

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Government Loans Judgment 52

Nexa Collect

JUNE 30, 2023

On 30 June 2023, the Supreme Court of USA ( SCOTUS), strikes down the Student Loan Forgiveness program proposed by the Biden administration. The striking down of a student loan relief plan will have various impacts on individuals and the economy at large. This can have long-term demographic and economic impacts.

Student loans 130

Student loans Student Loans Loans Education 130

Nexa Collect

JUNE 27, 2023

Recovering unpaid student loans is a systematic process. Just like mortgage recoveries, the steps can vary depending on the jurisdiction and the terms of the loan. Offset Tax Refunds and Government Benefits : For federal student loans in the U.S., This can affect the borrower’s credit score.

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Account Recovery

OCTOBER 24, 2022

Nearly 22 million individuals applied for the federal government’s student loan forgiveness program in its first week of operation, President Biden said on Friday, the same day that the Court of Appeals for the Eighth Circuit temporarily stopped the program from going into effect, following a lawsuit that was filed by six states.

Student loans 189

Student loans Student Loans Loans Government 189

Account Recovery

APRIL 10, 2024

A second group of Republican state Attorneys General yesterday announced they had filed a lawsuit against President Biden and the federal government seeking to block the enactment of its income-driven repayment program called Saving on a Valuable Education (SAVE).

Student loans 130

Student loans Student Loans Education Loans 130

Account Recovery

JUNE 15, 2021

Richard Cordray, the former Director of the Consumer Financial Protection Bureau who is now running the federal government’s student loan program, sat down for an interview with the Washington Post that was published a few days ago.

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Student loans Student Loans Loans Government 147

Account Recovery

AUGUST 24, 2023

The Department of Education, along with the federal government, yesterday announced it had launched its updated income-driven repayment application tool for individuals with unpaid student loans, a tool that could help reduce the student loan payments for up to 30 million borrowers.

Student loans 244

Student loans Student Loans Education Loans 244

Collection Industry News

DECEMBER 7, 2021

.: Earlier this month, the federal Education Department announced it is canceling another round of student loan payments, adding that those eligible are now being notified via email. The new round will cancel loans worth $2 billion, reported Yahoo Money. Government Writes Off $2 Billion In Student LoansU.S. totaling some $1.8

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Student loans Student Loans Government Loans 40

Nerd Wallet

DECEMBER 16, 2021

The article How the Government's Response to Inflation Could Help Savers originally appeared on NerdWallet. Wednesday, the Federal Reserve announced steps to take action. High inflation imposes. Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com. Twitter: @SAFmedia.

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Government Education Personal loans Loans 108

Credit Corp

DECEMBER 10, 2020

If you’re on the hunt for a mortgage, you might want to consider a conventional loan. But there are a ton of different types of conventional loans, so which is the right one for you? We’re here to break down conventional loans so you can decide if it’s the right choice for you. What Is a Conventional Loan?

Loans 111

Loans Lender Government Banks 111

Nerd Wallet

JULY 8, 2022

Small Business Administration, or SBA, loans are a great option for many business owners. Backed by the federal government, these loans offer a combination of flexible terms and reasonable costs for business owners who meet the SBA’s qualification criteria. However, there are some drawbacks to SBA loans.

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Loans Government 83

Nerd Wallet

AUGUST 29, 2022

Government-backed SBA loans offer low interest rates and long repayment terms, which can make them a great way to fund your business. NerdWallet’s SBA loan calculator can help you estimate monthly bills and total payments on an SBA 7(a), Express or 504 loan to decide if one is a good fit. The best small-business loan.

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Loans Government 64

Credit Corp

MARCH 21, 2023

million Americans have student loan debt, which totals over $1.7 If you owe tens of thousands of dollars in student loan debt, you’re not alone. million Americans have some form of federal or private student loan debt. Not only can you not declare bankruptcy on many forms of student loan debt, but it can also harm your credit.

Student loans 98

Student loans Student Loans Loans Education 98

Account Recovery

AUGUST 26, 2022

FEDERAL GOV’T INSTRUCTS AGENCIES TO REMOVE MEDICAL DEBT FROM LOAN UNDERWRITING FACTORS Government agencies that make decisions about lending or guaranteeing loans must remove medical debt from their underwriting criteria, according to a memo issued yesterday by the White House Office of Management & Budget.The government said this is the (..)

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Nerd Wallet

DECEMBER 21, 2020

Chuong, 26, from Seattle, refinanced roughly $55,000 in federal student loans with a private lender in February. A month later, the government suspended most federal loan payments interest-free until September. Chuong’s new loan doesn’t qualify. The article Should You Refinance Part of Your Student Loans?

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Student loans Student Loans Loans Lender 110

Sawin & Shea

OCTOBER 5, 2022

Student loan debt is a serious problem in the United States, and it’s an issue that impacts millions of Americans. As of January 2022, around 45 million people have student loan debt, which is 13.5% trillion, and according to Forbes , 7% of borrowers will never pay off their loans based on the current rate of repayment.

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Student loans Student Loans Loans Garnishment 93