Yesterday the White House hosted a call together with the Dept. of ED and the CFPB to announce actions to ensure that student loan borrowers are aware of their options for repayment. The actions are wide-ranging, but don’t address material post-default issues.
WASHINGTON, District of Columbia – As the buzz around the insideARM 2016 Larger Market Participant Summit grows, conference registrants and those considering registering who have interests in government and higher education markets should consider the breakout session entitled Best Practices in Gov’t & Higher Ed Contracting Compliance: A New Era in “Getting it Right.” This session […]
The Silver case is important to the entire ARM industry for a number of reasons. Any positive decision in a TCPA case is a good decision and should be reviewed. However, the case is especially important to that segment of the ARM industry that collects on federal government-backed student loans.
Today on the official blog of the U.S. Department of ED, plans were announced to launch “one of its biggest initiatives to date” – the creation of a software system to manage all Direct Student Loans, including both servicing and debt collection. This effort will be an incredibly heavy lift for the department.
The ACLU and the National Consumer Law Center (NCLC) filed suit yesterday in the US District Court in Massachusetts against the Department of ED under the Freedom of Information Act (FOIA), related to practices affecting student-borrowers. They want to see procedures manuals, which have only been provided with heavy redaction. The question is, why?
Private collection agencies have played a critical role in sustaining the Federal Student Loan programs for the past 40 years. Whether in support of the over 2,000 colleges and universities managing Federal Campus programs for their students, or the U.S. Department of Education and its guaranty agency partners, private collection agencies (PCAs) provide valuable assistance […]
Last week Federal Student Aid (FSA), an office of the Department of ED, released a series of quarterly reports reflecting activity through December 31, 2015. The reports cover the Federal Student Aid portfolio, including information such as outstanding balance by loan type, application submissions, and default status.
Yesterday the CFPB announced it had requested that a federal district court enter a final judgment and order that would shut down a student debt relief scheme that charged borrowers millions of dollars in illegal upfront fees for federal student loan services. If approved by the court, the proposed judgment would ban the company, Student […]
COLLINGSWOOD, N.J. – MyGovWatch.com is celebrating today, National Freedom of Information Day in the United States, by offering a unique promotion to companies aspiring to win government contracts. Any company not currently using the website but requesting a free trial and signing up before March 31st will receive three users for the price of one just […]
Last Thursday FCC Chairman Tom Wheeler revealed proposed restrictions on the use of an ATDS to call people who owe money to the government. The rules – reportedly crafted in conjunction with the CFPB – include a provision to limit the volume of calls to three per month.