President Biden has asked Education Secretary Miguel Cardona to prepare a memo on the president’s legal authority to cancel up to $50,000 in student debt. If he did that, the experts tell us, President Biden would forgive all college-loan debt for 36 million people–about 80 percent of all borrowers. Is that a good idea? Sort …
This is excellent news or is it a bad news situation. It has so many layers and complexities that it is hard to put it into one bucket truly. With millions of these Federal Family Education Loan (FFEL) student loans still out in the wild lingering and festering, some relief has arrived. Kind of. Sort …
In Goodvin v. Educational Credit Management Corporation, Judge Dale Somers, a Kansas bankruptcy judge, began his opinion with these words: “This student loan case fits the definition of insanity.” Judge Somers went on to chronicle the story of Jeffrey Goodvin. Mr. Goodvin attended Wichita State University for four years (1982-1986) but did not obtain a …
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 …
Everyone knows the story about the hapless motorist who gets lost in rural Maine. When he finds a farmer and asks for directions, the farmer says, “You can’t get there from here.” The U.S. Department of Education must be staffed by Maine farmers. DOE has made it almost impossible for student-loan debtors to benefit from …
Top Democrats, led by Senators Chuck Schumer and Elizabeth Warren, are calling on President Joe Biden to forgive student-loan debt up to $50,000 per person. According to the plan’s proponents, $50,000 in debt relief would wipe out all college-loan debt for 36 million Americans. That would be an impressive achievement. Moreover, forgiving $50,000 in student …
There is a terrific article on Market Watch on efforts to cancel student loan debt. As a consumer debt expert that regularly studies the impact of debt and human lives, I can clearly see the importance of tackling the systemic problems that have been created through all student loans, both private and federal. This is …
It took a long time but Navient is finally going to have to pay back money from activities with the Federal Family Educational Loan (FFEL) Program. I’m not sure if you want to call this justice or not but it took about a decade to reach the decision and demand that Navient needs to repay …
Our government’s Parent PLUS Program is an insidious scheme to lure low-income parents into taking out student loans so their kids can go to colleges they can’t afford. Insider Higher Ed’s Kery Murakami tells the story of Ewan Johnson, whose mother owes $150,000 in Parent PLUS loans–money she borrowed so her son could get a …
Question: I am currently pursuing an adversary proceeding on student loans against the DOE, and Navient. I am a single father, and it appears they will argue at trial that they are entitled to my tax returns to use to pay towards my student loans. Do you know of any case law that says a …