By Andrew Kreighbaum. Education Secretary Betsy DeVos announced Tuesday that she will appoint A. Wayne Johnson, a financial services executive, to oversee the government's $1.4 trillion student loan portfolio as the next chief of federal student aid. More...
Court Orders Education Department to End Delay in Ruling on Loan Discharge
By Andrew Kreighbaum. A federal district court judge last week ordered the Department of Education to rule within 90 days on an application for loan relief by a former Corinthian Colleges student. The application has been pending for more than two years. More...
Lawmakers Concerned About Loan Servicing Shift
By Andrew Kreighbaum. More than 150 House and Senate Democrats sent Education Secretary Betsy DeVos a letter Monday that objected to her department's recently announced shift in how it chooses the contractors that service federal student loans. More...
Moving Student Loans to Treasury Gets Little Traction
By Andrew Kreighbaum. The Trump administration has held internal discussions about relocating some functions of the Department of Education to other federal agencies, including moving its $1.4 trillion student loan portfolio to the Treasury Department, according to media reports. But that idea, which has periodically resurfaced for years, hasn't found serious interest among members of Congress. More...
Federal Court Extends Ban on Assigning of Defaulted Borrowers to Debt Collectors
By Andrew Kreighbaum. A federal claims judge this week extended an injunction on the assignment of newly defaulted student loan borrowers to debt collectors. More...
State AGs Want Action on Student Loan Discharge
By Andrew Kreighbaum. Nineteen state attorneys general and the head of Hawaii's Office of Consumer Protections wrote Monday that the Department of Education should consider abandoning individual review of loan discharge applications from former Corinthian College students. Instead, the department should grant automatic group discharge to student borrowers in cohorts where it has already determined fraud took place, they said in a letter to Secretary Betsy DeVos. More...
DeVos: U.S. Will Make Good on Loan Forgiveness
By Andrew Kreighbaum. Education secretary finally responds, without detail, to Democratic lawmakers who sought answers on status of promised student loan discharge claims for defrauded borrowers. More...
Feds: 234,000 Borrowers Could Be Stuck in Default
By Andrew Kreighbaum. About 234,000 defaulted student loan borrowers with debt valued at $4.6 billion will be stuck in limbo and unable to get out of default if a judge's order is not lifted this week, the Department of Education said in a court filing Friday. More...
Education Department Alters Loan Servicing
By Andrew Kreighbaum. The Department of Education announced Friday that it plans to select a single student loan servicer that borrowers will interact with on a single platform, a departure from the current system where four major servicing companies handle borrowers' payments of their federal student loans. More...
Student Debt, Female Lawyers and Marriage
By Scott Jaschik. Women who take on substantial student debt to attend law school have different marriage patterns than do other women who enter the law, according to a new report by the National Bureau of Economic Research (abstract available here). The women with substantial debt marry at later ages than do others. More...