The Education Department’s (ED) office of Federal Student Aid (FSA), which oversees the government’s massive student loan portfolio, is launching stronger standards for student loan servicers in an effort to tighten oversight. “FSA is raising the bar for the level of service student loan borrowers will receive,” FSA Chief Operating Officer Richard Cordray said in a statement. As payments are set to resume on January 31, 2022, the agency’s moves — which follow on the back of recent news… Source link
Read More »Education Department revokes Trump-era rules that protected student loan servicers
The New York Times Prosecutors Investigating Whether Ukrainians Meddled in 2020 Election Federal prosecutors in Brooklyn have been investigating whether several Ukrainian officials helped orchestrate a wide-ranging plan to meddle in the 2020 presidential campaign, including using Rudy Giuliani to spread their misleading claims about President Joe Biden and tilt the election in Donald Trump’s favor, according to people with knowledge of the matter. The criminal investigation, which began… Source link
Read More »States call on new Education Secretary to stop protecting student loan servicers
Eleven state financial regulators are calling on Education Secretary Miguel Cardona to rescind Trump-era regulations that they say are insulating student loan servicers from more oversight. The consumer protection agencies from California, Colorado, Connecticut, Illinois, Maine, Massachusetts, New Jersey, New York, Rhode Island, Washington and Wisconsin are asking Cardona to reverse what they call “unnecessary and legally dubious” guidelines under former Education Secretary Betsy DeVos… Source link
Read More »