Last Friday, the Department of Education made a huge announcement that it’s cutting contracts with five private companies it had hired as debt collectors on defaulted student loans. For years, Jobs With Justice has worked closely with our allies, including the Student Labor Action Project, US Student Association, and the… Read More»
Did you know that in two states not paying your student loans could mean your driver’s license can be revoked? That’s the harsh reality for those who have had to borrow to pay for college in both Montana and Iowa, where there are laws that allow the state to take… Read More»
The Consumer Financial Protection Bureau (CFPB) made a splash earlier this month by taking action against two student “debt relief” scam companies, banning one from the industry and suing another. While this isn’t the first time this year that these companies have come under fire for their predatory business practices,… Read More»
In an important step forward, as reported in Huffington Post, the U.S. Treasury Department will create a pilot program to serve as the debt collector on federal student loans, a function currently performed by private contractors. As soon as early 2015, the Treasury Department could task federal employees with helping… Read More»
Earlier today, federal regulators ordered Sallie Mae to pay $96.6 million in penalties and restitution to student loan borrowers harmed by the company’s lending practices. Sallie Mae agreed to settlements with both the U.S. Department of Justice (USDOJ) and the Federal Deposit Insurance Corp (FDIC) for violations of the following… Read More»