Previously I wrote Trump Department of Education Operating Beyond Logic on FFEL Collection Fee Change. This was about how the current Department of Education was rolling back protections that would allow them to charge a 16% collection fee on day one of a federal student loan default. That ability was eliminated in 2015 by the …
A couple of days ago I wrote about the Trump Department of Education under Secretary Betsy DeVos who told student loan guaranty agencies with FFEL federal student loans to disregard the guidance provided by the Obama administration regarding defaults. That specific 2015 guidance said student loan debtors who defaulted had up to 60 days after …
If the recent position by the Department of Education under the Trump administration is any indication of what is to come for federal student loan debtors, watch out. On March 16, 2017 the Department of Education rolled back protections and policies impacting those who hold FFEL federal student loans. The most recent numbers say about …