Cooley ED Nancy Anderson, Kate Lee Carey February 22, 2023 The Department of Education announced two initiatives that expand oversight of third-party providers to institutions of higher education that participate in federal financial aid programs. On February 15, ED announced two separate initiatives (one final and one proposed) that impact service providers to institutions of higher education […]
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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 third-party servicer guidance First, the […]
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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 a year after student-loan payments […]
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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 value to students and solicited […]
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