News
The federal student loan portfolio isn't an attractive asset | The American Banker
One thing is clear: inflated valuation flows from distorted incentives, with borrowers and taxpayers bearing the brunt. Sale or not, it’s time for lawmakers to have an honest conversation about the actual cost of the federal student loan program.
Court Continues to Side with Student Borrowers Against Attempts to Intervene in $6 Billion Borrower Defense Settlement
The Ninth Circuit denied the petition for a rehearing from one of three intervening schools, reinforcing that the intervenors have no standing in the settlement.
Court Denies MOHELA’s Attempt to Dismiss Borrowers’ Lawsuit
Borrowers from predatory for-profit institutions sued the lender after it failed to implement student loan discharges ordered by the Department of Education
PPSL Launches Borrower-led Community Action Council
New council will focus on advocacy and efforts to advance borrowers’ rights and drive systemic changes in higher education as Department of Education gets dismantled.
‘Not something that we’ve ever seen before’: As Trump takes aim at higher ed, private equity could wreak more havoc | The Boston Globe
“Eileen Connor worries that this is all very bad news for students. No one knows, for example, if the federal student loan portfolio will be privatized, says Connor, the president and executive director of PPSL. But if it is, that could mean that wealthier kids get to go to college and poorer kids become too big a risk.”
STATEMENT from PPSL on President Trump's Executive Order to Dismantle the Department of Education
President Trump issued an executive order directing Secretary of Education Linda McMahon to begin the process of dismantling the US Department of Education. The Project on Predatory Student Lending, the leading nonprofit legal organization representing borrowers defrauded by predatory colleges, issued the following statement.
Student loan borrowers misled by colleges were about to get relief. Trump fired people poised to help | The Hechinger Report
‘“I hate to think about what it means going forward for other lenders, and also for Navient itself, if they feel like all of a sudden they aren’t accountable to their legal obligations,” said Eileen Connor, president and director of the Project on Predatory Student Lending.”
STATEMENT from the Project on Predatory Student Lending: In response to the U.S. Senate vote to confirm Linda McMahon as Secretary of Education
The U.S. Senate voted to confirm Linda McMahon as the next Secretary of Education. The Project on Predatory Student Lending, the leading nonprofit legal organization representing borrowers defrauded by predatory colleges, issued the following statement.
Graduate saddled with $138K debt for 'worthless' degree sues loan servicer Navient for fraud | Chicago Sun-Times
“The servicer let some borrowers off the hook after a 2022 settlement — but not Amanda Luciano and others who faithfully made their loan payments.”
Student Borrowers Sue Navient for Denying Discharge Applications Despite Evidence of School Misconduct
New lawsuit highlights the dangers of gutting oversight and allowing private lenders to profit off students and taxpayers with impunity