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Top related persons:
— - 2 Joe Biden - 1 Biden - 1 I've - 1 they've - 1 forbearance - 1 Arete - 1 Joe Biden's - 1
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noreply@studentaid.gov
Top related orgs:
Service - 2 White House and Education Department - 2 Education Department - 2 Business - 1 SAVE - 1 Public - 1 Family Education - 1 FTC - 1

Search resuls for: "White House and Education Department"


4 mentions found


☆ Thousands of student-loan borrowers are set to get emails from Biden that their balances are wiped out. Here's what happens next.
  + stars: | 2024-02-21 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +5 min
Student-loan borrowers, check your emails — you might find a message from President Joe Biden in your inbox telling you that your debt is canceled. Additionally, per the fact sheet, 7.5 million borrowers are enrolled in the SAVE plan, and 4.3 million of them have a $0 monthly payment. Here's what will happen next for borrowers who are, or hope to be, eligible for SAVE plan relief. Next steps for SAVE plan debt reliefBiden's email noted that the Education Department has already informed impacted borrowers' loan servicers that they are eligible for relief. Once negotiations conclude, the department will prepare proposed text on the borrowers it's seeking to include in this new relief plan.
Persons: —, Joe Biden, Biden, I've, they've, forbearance Organizations: Service, White House and Education Department, Business, Education Department, SAVE, Public, Family Education Locations: noreply@studentaid.gov
☆ 37,800 student-loan borrowers are getting $3.3 million worth of checks in the mail after a debt relief company 'falsely' promised loan forgiveness but instead 'pocketed customers' payments,' a federal
  + stars: | 2023-06-20 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
The FTC accused Arete Financial Group of scamming student-loan borrowers out of $3.3 million. Specifically, the FTC said the group promised debt relief but instead pocketed consumers' payments. Last week, the Federal Trade Commission announced that it is sending checks totaling over $3.3 million to 37,800 student-loan borrowers who gave money to Arete Financial Group, a debt-relief company. According to the FTC's press release, Arete Financial pretended to be affiliated with the Education Department and "falsely" promised borrowers debt relief, but instead, "pocketed customers' payments and never provided the promised relief." "These lawsuits to shut down student loan debt relief schemes continue the agency's crackdown on junk fees, unwanted calls, and financial exploitation."
Persons: —, Arete, Joe Biden's, Samuel Levine Organizations: FTC, Arete, Service, Federal Trade Commission, Arete Financial, Education Department, Administration, White House and Education Department, Consumer Financial, Bureau, FTC's Bureau, Consumer
☆ Over 23,000 student-loan borrowers might soon receive a check in the mail after 5 debt relief companies were accused of charging them unnecessary fees
  + stars: | 2022-12-13 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +3 min
The CFPB accused five student-debt-relief companies of charging consumers unnecessary fees. As a result, 23,000 impacted borrowers may soon receive checks compensating them in the mail. The lawsuit also claimed that Monster Loans and Lend Tech Loans, two associated-mortgage companies, violated the Fair Credit Reporting Act by marketing debt relief to consumers using credit information "illegally obtained" from a credit-reporting company. Student-debt-relief companies often offer borrowers help with lowering their monthly payments or enrolling in targeted loan-forgiveness programs, but that's not without fees the companies may or may not disclose up front. Still, the broad debt relief is paused at this time following two lawsuits that have blocked its implementation.
☆ Student-loan borrowers who applied for Biden's debt relief shouldn't have to worry about living with 'crushing student loan debt as a result of a court challenge,' the nation's largest labor federatio
  + stars: | 2022-11-15 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
President Biden's student loan forgiveness plan is currently paused after two court rulings. Over the past week, courts handed Biden's student-debt relief plan two major blows. That decision was in favor of the six Republican-led states who sued the debt relief, arguing it would hurt their states' tax revenues. "The AFL-CIO is extremely disappointed in the partisan legal effort to shut down the Biden administration's life-changing student loan relief. The federation's president, Liz Shuler, called on Biden to cancel student debt in the spring.
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