You Searched For "Richard Cordray" and got 20 results
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2 mins read
317,000 student-loan borrowers are getting $6.1 billion in debt canceled after being misled about career prospects and how much money they could make after graduation
Student-loan borrowers who enrolled at any Art Institute campus from January 1, 2004, to October 16…
Ayelet Sheffey
2 mins read
Biden's top student-loan official says he's 'pushing hard' to give public servants more time to apply for debt relief
Student-loan borrowers have until October 31 to use the Public Service Loan Forgiveness waiver — bu…
Ayelet Sheffey
2 mins read
Biden's top student-loan official details how he plans to fix 'confusing' and 'inconsistent' debt repayment plans that have pushed millions into default
While Federal Student Aid head Richard Cordray wants to fix student-loan servicing, many borrowers …
Ayelet Sheffey
4 mins read
Biden made it harder for student-loan borrowers to get rid of debt when they go bankrupt
For some student-loan borrowers, declaring bankruptcy is the only way out of unaffordable debt. But…
Ayelet Sheffey
2 mins read
7,700 student-loan borrowers could be 'potentially eligible' for debt forgiveness — but they're still making payments, government watchdog finds
The GAO also found that since June 2021,157 student-loan borrowers have achieved forgiveness throug…
Ayelet Sheffey
2 mins read
Biden's Education Department is again signaling 'great uncertainty' surrounding student-loan repayment when the pause expires in 30 days
Student-loan payments are set to resume on May 1, but even Biden's administration can't quite predi…
Ayelet Sheffey
3 mins read
A student-loan company just got hit with a $1 million penalty for 'breaking the law' by lying to borrowers about loan forgiveness, Biden's top consumer watchdog says
"When student loan companies lie about cancellation and repayment programs for borrowers, they are …
Ayelet Sheffey
2 mins read
Veterans are being misled into taking out student loans 'they didn't need,' a Biden official says — and 'offending schools' will face consequences
Federal Student Aid's Richard Cordray issued schools a warning: be upfront about student loan costs…
Ayelet Sheffey
3 mins read
A student-loan company that just took over 5 million borrowers' accounts has 'a growing list of scandals and abuses,' report says
Maximus, which took over Navient's portfolio, says it's just "back-end IT support" for federal loan…
Ayelet Sheffey
2 mins read
Biden's top student-loan official said much more student debt relief is to come, but asks borrowers 'not to flood our phone lines'
Thousands of public servants like teachers and first responders saw debt wiped out by PSLF reforms.…
Ayelet Sheffey
2 mins read
It will be 'a challenge to motivate' student-loan borrowers to pay off their debt after a 2-year pause, the Education Department tells government watchdog
Ahead of payments resuming in May, the Education Department is reaching out to borrowers, but it ha…
Ayelet Sheffey
2 mins read
Student-loan borrowers with disabilities could be paying extra taxes because of 'false and misleading' information on debt forgiveness, advocates say
Student-loan borrowers with disabilities may not know their debt forgiveness isn't taxable. Student…
Ayelet Sheffey
2 mins read
Under pressure to cancel student debt, a top federal aid official points to Biden: 'It is a decision for the White House to make'
Federal Student Aid head Richard Cordray made clear broad student-debt cancellation is Biden's job …
Ayelet Sheffey
2 mins read
Biden's top student-loan official vows students defrauded by defunct for-profit colleges will get help - and top execs will pay the price
Federal Student Aid head Richard Cordray told Rep. Bobby Scott that execs of schools like Corinthia…
Ayelet Sheffey
2 mins read
Biden's Education Dept. sends a message to 6 student-loan companies: 'Meet the tougher standards or face consequences'
Three other student-loan companies announced plans to shut down their loan services before borrower…
Ayelet Sheffey
2 mins read
Biden's Education Dept. just announced a new office to 'vigorously investigate' schools' student-loan and federal aid abuses
In Biden's latest action cracking down on the student-loan industry, the Office of Enforcement will…
Ayelet Sheffey
3 mins read
The student-loan industry could face a crackdown as yet another Elizabeth Warren ally takes a top oversight job for Biden
The Senate confirmed Rohit Chopra, who used to be a student-loan watchdog, to lead the Consumer Fin…
Ayelet Sheffey
2 mins read
Chuck Schumer calls out Biden for dragging his feet on the student debt crisis: 'Students don't need their debts paused - they need it erased'
"It's unacceptable, it's un-American. And at the rate we're going, it's unsustainable," Senate Majo…
Ayelet Sheffey
2 mins read
Student-loan companies chose to shut down rather than face more accountability, says a top Biden official
Federal Student Aid Director Richard Cordray said he plans to hold the remaining student-loan compa…
Ayelet Sheffey
3 mins read
February's student-loan payment restart will run into a 'psychological hurdle' as many borrowers thought their debt would be forgiven, Biden official says
"The stakes are extremely high" for borrowers who have gotten used to not making any payments on st…