In what reads like a Student’s Bill of Rights, a 76 page Assurance of Voluntary Compliance, CEC must clearly and conspicuously disclose to prospective students a “Single-Page Disclosure Sheet” that contains the following information: the anticipated total direct cost for the program of study at the prospective campus; provided, however,…
Most of us still use the New Year as an opportunity to review the past year and set goals for the New Year. My own practice has grown tremendously from this goal setting. We target the best strategies to grow our practice and help our clients to get back on…
Since last week’s announcement that the Department of Education was forgiving $150 million in federal student loans, many people have reached out to us to see if they may benefit. Those who will receive forgiveness under the $150 million announcement are limited to only those borrowers who: were enrolled when…
Today, a CNBC reporter Annie Nova, reports and gives an update on our Public Service Loan Forgiveness cases in Florida against Great Lakes and Navient for misrepresentations about the program. Both of these cases are seeking or will seek class action status. https://www.cnbc.com/2018/12/18/borrowers-denied-public-service-loan-forgiveness-file-lawsuits.html The number of people who’ve been financially derailed by…
In several stunning revelations, Betsy DeVos announced on November 27, 2018 in a press release that the federal government has 1.5 trillion dollars of federal student loan debt (more than credit card debt and auto loans combined). It took 42 years from 1965-2007 for the federal student loan balance to…
A recent GAO report showed just how poor of a job that the Department of Education and its various servicers are doing in communicating and explaining options to reduce student loan debt. This is the primary reason why so many people are being declined Public Service Loan Forgiveness. So I’d…
I’m still seeing a ton of misinformation out there. A perfect example of this is someone who consulted with us yesterday and granted us permission to tell her story to hep others. First, this client, we’ll call her Debbie, is a retired teacher who had $73,000 in Parent Plus loans. …
It’s difficult for laypeople (and sometimes bankruptcy attorneys) to believe there are legal options to reduce student loan debt after hearing for years that “student loans are nondischargeable in bankruptcy”. Well, this is not always true. They can be discharged – or partially discharged – and brand new payment terms…
I heard from a client today who attended one of our student loan seminars recently. Many of her colleagues in the military recently submitted their PSLF applications and are now starting to get back denials. Despite completing the ten years of payments while working full time for Uncle Sam, PSLF…
I thought I’d take a few minutes to write a follow up to Jeff Gitlen’s informative piece on consolidation of federal student loans over on LendEDU.com. As a student loan attorney, we have learned several tricks to take advantage of ways to reduce student loan debt while avoiding the traps…