Thompson Coburn LLC Christopher Murray, Scott Goldschmidt, Aaron Lacey February 22, 2023 Last week, the U.S. Department of Education made important announcements regarding oversight of “third-party servicers” and enforcement of its incentive compensation rule. In this post, we consider each of these announcements and their likely impact on the regulated community. Updated […]
Insider Ayelet Sheffey February 16, 2023 The New York Fed found that $34 billion in delinquent student loans were marked current in the last quarter of 2022. That’s thanks to Biden’s “Fresh Start” plan, which aimed to restore defaulted borrowers to good standing. The plan will remain in place for […]
Higher Ed Dive Natalie Schwartz February 22, 2023 Some prominent higher ed groups rejected the proposal altogether, while others suggested metrics they say could make it work. In January, the U.S. Department of Education asked for feedback on a plan to publish a list of college programs with low financial […]
McGuire Woods February 21, 2023 On Feb. 15, 2023, the U.S. Department of Education issued guidance that significantly expands the definition of “third-party servicer” to include services completed by many online program managers (OPMs) and entities providing other services that historically have not been considered third-party servicers. Institutions and entities […]
WCET Frontiers Megan Raymond February 22, 2023 Did you hear that loud noise last Wednesday? For those in the middle of the country, it was the Kansas City Chiefs victory parade. For those in higher education, the U.S. Department of Education created its own rumblings by releasing new guidance with rules about any […]
Veterans Education Success February 15, 2023 MEDIA ADVISORY – LEGAL/VETERAN EXPERT AVAILABLE FOR COMMENT/CONTEXT LETTER FROM VETERAN & HIGHER ED ADVOCATES ASKS UNIVERSITY OF ARKANSAS TO RECONSIDER UNIVERSITY OF PHOENIX PURCHASE IN LIGHT OF THE BUSINESS’ CONSUMER PROTECTION LEGAL LIABILITIES Concerns that Public University Take on Legal Risks that Can Impact System […]
Higher Ed Dive Natalie Schwartz February 17, 2023 Dive Brief: The CEO of Grand Canyon Education, an educational services firm whose biggest client is Grand Canyon University, offered a defense of tuition-sharing during a call with analysts Thursday, saying the practice shields universities from financial risk. “Critics point to the […]
CNN Politics Joan Biskupic February 17, 2023 The Supreme Court may decide as soon as Friday whether to tackle a new case that could further constrain the power of US regulators to delve into American businesses and individual lives. In recent rulings, this conservative-dominated high court has been diminishing regulatory control for […]
Gallup Frank Newport February 17, 2023 The U.S. Supreme Court’s ruling on how Harvard and the University of North Carolina use race in college admissions is expected by early June. Informed expectations are that the high court will find against the two universities and rule that race cannot be considered […]
Duane Morris February 17, 2023 The Department of Education has issued an electronic notice relating to the updated cybersecurity regulations published by the Federal Trade Commission (FTC). On December 9, 2021, the FTC amended the Safeguards Rule under the Gramm-Leach-Bliley Act (GLBA). This comprehensive amendment updated data security requirements for financial institutions, […]