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4 mentions found


☆ Student-loan borrowers have a new safeguard in place to ensure their debt doesn't pile up once they graduate
  + stars: | 2023-09-27 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +5 min
The Education Department released its final version of the gainful employment rule. AdvertisementAdvertisementPresident Joe Biden's Education Department has released its final rule to keep student debt from spiraling after a borrower graduates. On Wednesday, the Education Department announced its final version of the gainful employment rule. However, advocates and Democratic lawmakers have previously pushed for a strengthened gainful employment rule to protect borrowers. This includes the most effective gainful employment rule in history," Cardona said.
Persons: —, Joe Biden's, Barack Obama, Donald Trump, Education James Kvaal, Jason Altmire, Altmire, Aaron Ament, Miguel Cardona, " Cardona Organizations: Education Department, Service, Joe Biden's Education Department, Education, Education Colleges, Universities —, Department, Democratic, Student Defense
☆ Biden's efforts to make it easier for defrauded student-loan borrowers to get debt relief were blocked by a conservative court
  + stars: | 2023-08-07 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
The Fifth Circuit blocked Biden's new rules to ease the debt relief process for defrauded borrowers. The changes to borrower defense are now blocked as the legal process plays out. The rules would create a more streamlined application process for borrowers seeking debt relief, along with expanding the types of misconduct that would qualify a borrower for a loan discharge. "Defrauded borrowers are legally entitled to relief and their institutions should be held accountable," he said. For now, the department's new rules for borrower defense will be blocked as the legal process proceeds.
Persons: Joe Biden's, Ronald Reagan, Donald Trump —, CCST, Aaron Ament, Jason Altmire, — Organizations: Circuit, Service, Fifth Circuit, Colleges, Schools of Texas, Education Department, The Education Department, Student Defense, Education Colleges, Universities — Locations: Wall, Silicon
☆ Biden's Education Department just released its 'strongest-ever' plan to ensure student-loan borrowers don't graduate with unaffordable debt
  + stars: | 2023-05-17 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +6 min
The Education Department released its new proposal for a strengthened gainful employment rule. The rule would place safeguards for borrowers to ensure they don't take on more student debt than they can afford. "Ever since the Trump Administration illegally repealed the 2014 Gainful Employment rule, students have been left unprotected from predatory higher ed profiteers," Ament said. The gainful employment rule has drawn criticism from for-profit schools in the past who have argued that they were being targeted by the strengthened regulations. Democratic lawmakers have previously pushed for a strengthened gainful employment rule.
☆ Supreme Court declined to block $6 billion student loan settlement. Here's who qualifies for forgiveness
  + stars: | 2023-04-17 | by ( Annie Nova | ) www.cnbc.com   time to read: +1 min
The Supreme Court last week declined to block the settlement of a class-action lawsuit brought by student loan borrowers who say they've been defrauded by their schools. Now, the U.S. Department of Education will be able to continue delivering on the $6 billion loan forgiveness settlement. More than 150 schools, mostly for-profit institutions, were involved in the settlement. Three of those institutions — Lincoln Educational Services Corp., American National University and Everglades College Inc. — had petitioned the highest court. They've argued that they were denied due process with the settlement and that it harms their reputation.
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