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☆ A major student-loan company is being sued over claims it mismanaged 8 million borrowers' accounts, blocking them from lower payments and debt relief
▼ + stars: | 2024-07-22 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA major student-loan company just got hit with a lawsuit over claims it harmed the millions of borrowers it services. The lawsuit claims that MOHELA's mismanagement has harmed the 8 million borrowers it services and requests that a judgment be entered requiring MOHELA to provide relief to harmed borrowers for violating consumer protection law. "Individually, any one of MOHELA's failings would be sufficient to cause financial, mental, and emotional distress," the lawsuit said.

Persons: —, servicer MOHELA, MOHELA, Randi Weingarten, it's, Elizabeth Warren, Chuck Schumer, Bernie Sanders, Warren, Winston Berkman, Breen Organizations: Service, Teachers, Business, Education Department, AFT, Federal, Democratic, we're Locations: American, Sens

☆ Justice Sam Alito took a luxury fishing trip with a billionaire who supports a group that wants to block Biden's student-loan forgiveness
▼ + stars: | 2023-06-21 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

ProPublica reported that Justice Sam Alito took a luxury fishing trip with billionaire Paul Singer in 2008. Both Singer and Alito denied discussing any business interests related to SCOTUS cases on the trip. That group also filed an amicus brief with the Supreme Court asking it to block Biden's relief plan — a decision the court is expected to hand down in the coming days. The spokesperson also said that Singer did not have "any pending matters before the Supreme Court, nor could Mr. Singer have anticipated in 2008 that a subsequent matter would arise that would merit Supreme Court review." "On no occasion have we discussed the activities of his businesses, and we have never talked about any case or issue before the Court," Alito wrote.

Persons: ProPublica, Sam Alito, Paul Singer, Singer, Alito, SCOTUS, —, Jr, Joe Biden's, Biden, Brown, SBPC, Paul Singer's, Miguel Cardona Organizations: Manhattan Institute, GOP, Service, Republican, Congress, Street, Protection Center, . Nebraska, US Department of Education, Network, Judicial, Democratic, Biden Locations: —, Alaska, ., Brown, Brown and Nebraska

☆ Employees at the student-loan company named in a major lawsuit blocking Biden's debt relief were confused about their involvement in the case: 'Are we the bad guys?'
▼ + stars: | 2023-06-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Employees at student-loan company MOHELA were confused about their role in one of the lawsuits blocking debt relief. MOHELA has denied involvement in the case, and Supreme Court justices were skeptical of its standing. But it appears MOHELA employees weren't given a heads-up they would be called into this major lawsuit. Millions of borrowers are waiting for the Supreme Court to issue its final decision on the legality of Biden's debt relief, which could happen in the coming weeks. Do you work at MOHELA or another student-loan company and want to share your story?

Persons: MOHELA, —, Joe Biden's, Cori Bush, Bush, James Campbell, Campbell, Ella Azoulay, Amy Coney Barrett Organizations: Student, Protection, Service, Employees, GOP, Missouri Sunshine, Missouri Rep, Missouri Attorney Locations: Missouri, Nebraska, MOHELA

☆ The House just passed a bill to block student-loan forgiveness and end the payment pause immediately
▼ + stars: | 2023-05-24 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

A bill to overturn Biden's student-debt relief passed the House by a vote of 218-203. Along with blocking broad debt relief, the bill would also end the payment pause. The bill would overturn President Joe Biden's plan to cancel up to $20,000 in student debt for federal borrowers, along with immediately ending the ongoing student-loan payment pause, throwing borrowers back into repayment earlier than expected. Pierce said that means the bill will "unwind debt relief already delivered to hundreds of thousands of public service workers across the country. This will happen because the seventh and eighth payment pauses also give credit towards Public Service Loan Forgiveness for each paused month covered by these executive actions,."

☆ The GOP's bill to permanently block Biden's student-debt relief could cause public servants' loan balances to unexpectedly balloon if it passes, advocacy groups say
▼ + stars: | 2023-05-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The SBPC and AFT released a report analyzing the impacts of a GOP bill to overturn student-debt relief. GOP Rep. Virginia Foxx rejected that idea during a hearing last week as Democrats said loans would be reinstated under the bill. However, the text of the CRA statute could suggest the GOP bill might do far more than block Biden's broad debt relief and the student-loan payment pauses. "This resolution will unwind debt relief already delivered to hundreds of thousands of public service workers across the country. The report also estimates that two million public servants making progress toward payments in PSLF could lose "at least some progress toward relief."

☆ 12 million student-loan borrowers could benefit from Biden's debt cancellation in the districts of the House Republicans who urged the Supreme Court to strike the relief down
▼ + stars: | 2023-02-17 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

128 House Republicans filed an amicus brief to the Supreme Court opposing student-debt relief. New data found that nearly 12 million borrowers in their districts would benefit from the relief. On Friday, the department unveiled data showing the breakdown of student-loan borrowers who applied, and were deemed eligible, for President Joe Biden's up to $20,000 in debt relief by congressional district. Over the past few weeks, 128 House Republican lawmakers filed an amicus curiae brief to the Supreme Court ahead of oral arguments on February 28 urging it to strike down Biden's debt relief. As the Education Department has previously said, over 40 million borrowers in total would qualify for Biden's debt relief, and of the 26 million borrowers who applied for the relief before the online application closed in October, 16 million of them had been fully approved.

☆ A student-loan company involved in a major lawsuit against Biden's debt relief just got hit with a cease and desist over accusations of 'interfering with student loan borrowers' right to loan cancella
▼ + stars: | 2022-10-11 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Advocacy groups AFT and SBPC sent a cease and desist letter to student-loan company MOHELA. "Student loan giant MOHELA has grown fat on federal contracts and back-room deals with big banks. The groups also noted that MOHELA's actions could be a "potential liability" under the California Student Borrower Bill of Rights and the Consumer Financial Protection Act. The cease and desist letter noted that seeking to block debt relief and understaffing call centers could constitute such behavior. "People with student debt in California and across the country have a right to life-changing debt relief and we will not let a rogue student loan company stand in the way."

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