Education Secretary Betsy DeVos on Tuesday withdrew a series of policy memos issued by the Obama administration to strengthen consumer.
NEW YORK — Education Secretary Betsy DeVos on Tuesday rolled back an Obama administration attempt to reform DeVos dials back consumer protections for student loan borrowers. Bloomberg News | Tuesday, April 11, p.m...
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We make an effort to protect discussions from repeated comments either by the same reader or different readers. Though the number of borrowers defaulting for the first time in the direct loan program slowed last year, tens of thousands of people are defaulting for at least a second time, leaving policy analysts to question the effectiveness of loan servicing.
News education devos quietly dials back consumer protections student loan borrowers dndljeeuvg pqoxx tri easy
You are solely responsible for your comments and by using nufcmismanagement.info you agree to our. The CFPB, in particular, has documented instances of servicing companies providing inconsistent information, misplacing paperwork or charging unexpected fees. In this case, we may fix spelling and punctuation. The Education Department is in the middle of issuing new contracts to student loan servicing companies that collect payments on behalf of the agency. Instead, they are managed by third-party companies, which are awarded contracts by the government. Rather than rewarding companies that cashed in on debts, the now-rescinded Obama guidance incentivized a good track record and sought to award contracts to companies with a history of helping borrowers. Attorney Adam Minsky, who has dedicated his practice to helping those with student loans, said the withdrawal only creates more frustration for the borrowers. But some servicers say that they pour all of their resources into catching borrowers before they default but that all of the mailers, calls and emails often go ignored.