Tag: student loan

Victory: Department of Education Cuts Contract With Five Student Debt Collectors

March 4, 2015

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»

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These Two States Will Revoke Your License If You Can’t Pay Back Your Student Loans

January 12, 2015

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»

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Government Agency Bans and Sues Student Loan Scammers

December 17, 2014

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»

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How the Treasury Department Is Stepping Up to Protect Student Debtors

November 18, 2014

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»

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Federal Regulators Fine Sallie Mae for Overcharging and Discriminating Against Borrowers

May 13, 2014

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»

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