cfpb Consumer Financial Protection Bureau April 25, 2022 Bureau Seeks Comment on Updated Procedures Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) announced that it is invoking a largely unused legal provision to examine nonbank financial companies that pose risks to consumers. The CFPB believes that utilizing this dormant authority […]
Axios Shawna Chen April 15, 2022 The Department of Education will soon take new actions to tackle student debt and address longstanding issues with paying off federal student loans, Axios has learned. Why it matters: The move comes as the Biden administration struggles with growing calls to cancel student debt. The […]
Yahoo Finance Aarthi Swaminathan April 15, 2022 A single mom who signed up for a $30,000 income-share agreement at a for-profit coding bootcamp has filed a lawsuit in California, alleging she entered the agreement under “false pretenses.” Redmond, Washington-based Emily Bruner is suing Bloom Institute of Technology, formerly known as […]
Sacramento Business Journal Mark Anderson April 16, 2022 University of Phoenix, which has had a physical campus in South Natomas since at least the early 1990s, is phasing out the local campus over the next two years, reflecting its students’ preference for online courses. The University of Phoenix, Sacramento Valley […]
NASFAA Hugh T. Ferguson April 11, 2022 The continued extension of the federal payment pause on student loans and interest accrual has been a relief to borrowers, but amid this freeze a simple accountability metric on institutions of higher education may be less useful in the coming years, allowing programs […]
Real Clear Politics Arthur Keiser April 11, 2022 While the U.S. Department of Education was conducting a recently completed rulemaking process regarding for-profit colleges and universities, a small cohort of activists were lobbying Congress and the department to make it more difficult for these schools to make the transition to […]
The Daily Journal Curtis Driscoll April 8, 2022 DA files 21 felony counts for mismanagement, financial improprieties Following a lengthy criminal investigation, former San Mateo County Community College District Chancellor Ron Galatolo is being charged with 21 felonies for alleged mismanagement of district contracts and other financial improprieties. The San […]
Inside Higher Ed Scott Jaschik April 7, 2022 Federal student loans do not have to be repaid until Sept. 1. President also erases defaults for millions of students. President Biden on Wednesday extended by four months, to Sept. 1, the pandemic-era pause on repaying federal student loans. The move appears to have pleased […]
Inside Higher Ed Scott Jaschik April 6, 2022 President Biden is expected to extend his moratorium on federal student loan payments today or tomorrow, Politico reported. According to the article, the new deadline for beginning to repay loans will be Sept. 1. Many Democrats in Congress and activist groups have been urging the […]
NASFAA Hugh T. Ferguson April 5, 2022 As policymakers mull another extension to the pause on student loan payments and interest accrual, and many borrowers are already struggling with the currently available repayment options, congressional leaders are now offering more proposals aimed at simplifying the repayment process. The latest legislation, citing […]