https://www.ftc.gov/news-events/news/press-releases/2022/09/ftc-takes-action-stop-credit-karma-tricking-consumers-allegedly-false-pre-approved-credit-offers?utm_source=govdelivery Nearly One Third of Some “Pre-Approved” Offers Resulted in Denials; Company to Pay $3...
Firm News
Biden to Cancel Up to $10,000 in Student Debt for Borrowers Making Over $125,000 a Year
https://www.ed.gov/news/press-releases/biden-harris-administration-announces-final-student-loan-pause-extension-through-december-31-and-targeted-debt-cancellation-smooth-transition-repayment AUGUST 24, 2022 Contact: Press Office, (202) 401-1576, [email protected] Today,...
Income-Driven Repayment and Public Service Loan Forgiveness Program Account Adjustment
https://studentaid.gov/announcements-events/idr-account-adjustment On April 19, 2022, the U.S. Department of Education (ED) announced several changes and updates that will bring borrowers closer to forgiveness under income-driven repayment (IDR) plans. These...
CFPB: FFELP student loan borrowers: take full advantage of fixes to Income-Driven Repayment
https://www.consumerfinance.gov/about-us/blog/ffelp-student-loan-borrowers-take-full-advantage-of-fixes-to-income-driven-repayment/ By Kate Mullan – MAY 25, 2022 Under income-driven repayment (IDR) plans, federal student loan borrowers can have the remaining balance...
CNBC: Billions in federal rental assistance is still available. Here’s what struggling renters need to know
https://www.cnbc.com/2022/04/13/struggling-renters-can-still-apply-for-up-to-18-months-of-federal-aid-.html Billions of dollars in federal rental assistance is still available to struggling renters, though some states are running out of funds. As a result, tenants who...
CNN Business: Consumer debt soared by $52 billion in March
https://www.cnn.com/2022/05/06/economy/consumer-credit-debt-march/index.html Americans are racking up debt at record rates. Consumer debt levels for March 2022 climbed by $52.4 billion, an annual increase of 14%, seasonally adjusted, according to Federal Reserve data...
CFPB: Consumer advisory: Don’t give money or information to scammers promising student loan forgiveness
https://www.consumerfinance.gov/about-us/newsroom/consumer-advisory-dont-give-money-or-information-to-scammers-promising-student-loan-forgiveness/ Recognizing student loan scams Our infographic highlights red flags for student loan borrowers to watch out for. Download...
**Important Update from Federal Student Aid: Income-Driven Repayment and Public Service Loan Forgiveness Program Account Adjustment
On April 19, 2022, the U.S. Department of Education (ED) announced several changes and updates that will bring borrowers closer to forgiveness under income-driven repayment (IDR) plans. These adjustments to borrower accounts include conducting a one-time revision of...
NCLC: Student Loan Payment Pause Extended through August 31, 2022, Loans Removed from Default: What Borrowers Need to Know
On April 6, 2022, President Biden directed the U.S. Department of Education to extend the coronavirus-related payment suspension and 0% interest rate on certain federal student loans for four months. The payment suspension was due to expire at the end of April, but...
NCLC: Hidden Consumer Rights and Remedies Regarding Private Student Loans
Federal student loans are dischargeable in bankruptcy only based on undue hardship (a strict standard as interpreted by courts). Creditors have worked hard to foster the misconception that the same standard applies to all private student loans. See, e.g., Student...