Get Out of Debt Guy, an online debt counseling site operated by Steve Rhode, recently received a request for advice from Rose, a graduate of St. George University Medical School. Rose now owes more than half a million dollars in student loans. Rose said her education quality was fine, but the medical school misrepresented the cost. …
Yesterday, the U.S. Department of Education (Department) announced that it will discharge all remaining federal student loans that borrowers received to attend ITT Technical Institute (ITT) from January 1, 2005, through its closure in September 2016. The decision, which follows Departmental findings based on extensive internal records, testimony from ITT managers and recruiters, and first-hand …
The Department of Education announced a set of proposed changes to federal student loan programs. It is interesting to note what is missing here. The two biggest fixes that are needed are the restoration of the discharge of student loan debt in bankruptcy as a regular debt and a fix for the spousal consolidation loan …
The FTC made the announcement below that seems to open the door for students with federal student loans to explore the possibility of applying for a Borrower Defense Loan Discharge. The Federal Trade Commission put 70 for-profit higher education institutions on notice that the agency is cracking down on any false promises they make about …
A good friend in the industry sent this robocall recording in. The message says, “This is an important update for []. Last week, President Biden’s administration canceled nearly $1 billion 72,000 borrowers, to find out what this means for you and to see if you qualify. Call us back today between eight AM and eight …
In 2019, a group of student-loan debtors filed a lawsuit against the U.S. Department of Education and Education Secretary Betsy DeVos. Claiming to represent more than 100,000 student-loan borrowers, the plaintiffs accused DOE of issuing “blanket refusal[s]” when students tried to have their student loans forgiven based on claims they had been defrauded by the …