cfpb November 13, 2023 This month, 845 former Student Aid Institute (SAI) consumers will receive checks in the mail in response to a lawsuit filed against Frank Ronald Gebase Jr., the founder, owner, and operator of Processingstudentloans, a student loan debt-relief company that illegally withdrew hundreds of thousands of dollars from the bank accounts of […]
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Holland & Knight Paul G. Lannon – Maddie Fenton – Jean Donohue November 13, 2023 The U.S. Department of Education has announced new regulations for colleges and universities that cover four broad areas: financial responsibility, administrative capability, certification and ability-to-benefit. The new requirements will take effect on July 1, 2024, and are intended to better […]
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NASFAA Maria Carrasco November 13, 2023 The Department of Education (ED) on Wednesday released guidance to institutions on the borrower defense process after the Sweet v. Cardona settlement, as aid offices this fall reported concerns over an increase of borrower defense notifications. Sweet v. Cardona, originally dubbed Sweet v. DeVos, is a class action lawsuit filed in 2019 by seven […]
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Inside Higher Ed Katherine Knott November 13, 2023 The Biden administration wants to dramatically expand employees’ eligibility for overtime. Supporters say that’s only fair. Institutions say it will cost them millions. Colleges and universities are warning they might have to raise tuition or lay off staff in response to a Biden administration plan to extend […]
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