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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
3 mins read
758,000 more student-loan borrowers didn't receive on-time billing statements in the fall — and they won't have to make payments until the issues are resolved
The Education Department is withholding over $2 million in pay from student-loan companies Nelnet, …
Ayelet Sheffey
3 mins read
Student-loan companies explain why they're not to blame for borrowers' repayment challenges. A group of Democrats said it's still 'deeply concerning.'
Sen. Elizabeth Warren joined three of her colleagues in saying student-loan servicers failed to exp…
Ayelet Sheffey
2 mins read
A major student-loan company is 'impeding' borrowers' debt cancellation and 'mishandling' their monthly bills, Elizabeth Warren says. She wants its CEO to face Congress.
Since student-loan payments resumed, borrowers serviced by MOHELA have faced a range of repayment a…
Ayelet Sheffey
3 mins read
Student-loan borrowers faced 3.9 million billing errors after entering repayment, a new report from 4 Democratic lawmakers says
A new report from Elizabeth Warren and her colleagues called for student-loan forgiveness for borro…
Ayelet Sheffey
2 mins read
A major student-loan company says 'extensive servicing delays are a likely outcome' as borrowers transition back into repayment — and it could 'last well into 2024'
Student-loan company MOHELA told Democratic senators the "extreme nature" of repayment will bring v…
Ayelet Sheffey
3 mins read
A major student-loan company owes debt of its own — but it's continuing to collect millions of borrowers' monthly bills. A Democratic lawmaker says it's time for it to pay up.
Rep. Cori Bush wants the Missouri attorney general to hold student-loan company MOHELA accountable …
Ayelet Sheffey
2 mins read
37 million student-loan borrowers will get 'the most affordable repayment plan ever' when new contracts with 5 companies go into effect next year, Biden's Education Department says
The Education Department awarded five student-loan companies new contracts to overhaul repayment. B…
Ayelet Sheffey
3 mins read
A student-loan company at the center of a lawsuit blocking Biden's debt cancellation with a 'dubious record of customer service' just got a new contract to keep servicing millions of borrowers, Cori Bush says
"No company should be profiting from the student debt crisis, especially MOHLEA," Rep. Cori Bush to…
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
3 mins read
Millions of student-loan borrowers don't know who they'll be paying when the payment freeze lifts in 100 days
Three student-loan companies announced plans to shut down this year, but some negotiations are stil…