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2022 Delivers Historic Wins for Student Borrowers | Blog
It has been a historic year for PPSL and our clients, with big changes for our organization and even bigger wins for student borrowers. These massive victories are the result of years of dedication from our clients, who never gave up hope or backed down.
Judge grants final approval of $6 billion student loan settlement | Washington Post
“People are just overjoyed,” said Eileen Connor, director of the Project on Predatory Student Lending, a group representing the borrowers. “I’m hopeful this is a path forward for people and for the Department of Education to move forward and have some kind of process that works.”
Judge approves Sweet v. Cardona student debt relief settlement, but likely appeal looms | Higher Ed Dive
A federal judge late Wednesday approved a massive class-action settlement intended to address allegations the U.S. Department of Education stonewalled hundreds of thousands of applications to a program that cancels student loan debts for borrowers whose colleges misled them.
Court awards $6 billion in student loan relief to borrowers | The Hill
A federal court approved a settlement between the Department of Education and around 200,000 student loan borrowers on Wednesday for $6 billion in loan relief, as the borrowers argued the department was taking too long to process applications claiming the borrowers were defrauded by their colleges.
200,000 student-loan borrowers were just granted $6 billion in debt relief after a federal judge approved a settlement with Biden's Education Department | Insider
On Wednesday, federal Judge William Alsup granted final approval of a lawsuit — Sweet v. Cardona — filed in 2019 by student-loan borrowers who accused the Education Department at the time of failing to process their borrower defense to repayment applications. These are forms borrowers can file if they believe they were defrauded by the school they attended. If the department approves their forms, they would qualify to have their student loans discharged.
Judge rules to erase the student loans of 200K borrowers who say they were ripped off | NPR
The lawsuit, Sweet v. Cardona (formerly Sweet v. DeVos), centered on a federal rule, known as borrower defense, that allows federal student loan borrowers to ask the department to erase their debts if a school has lied to them – about their job prospects, their credits' transferability or their likely salary after graduation.
Court Approves $6 Billion In Student Loan Forgiveness For 200,000 Borrowers To Resolve Lawsuit | Forbes
A federal court has approved a landmark settlement that will lead to an estimated $6 billion in student loan forgiveness for over 200,000 borrowers.
Student Borrowers Win Final Approval of Settlement to Cancel Over $6 Billion in Loans for 200,000 Borrowers
Student borrowers today won final approval of a settlement with the US Department of Education in the class action lawsuit Sweet v. Cardona. The agreement, which received preliminary approval on August 4, 2022, states that the Department will immediately cancel at least $6 billion in student loans for approximately 200,000 individuals with pending borrower defense applications.
The Borrower Stories Behind Sweet v Cardona | Student Loan Truth
On November 9th, Sweet v. Cardona borrowers had the chance to attend the hearing for final settlement approval in person, with 1,000 of their fellow class members listening over Zoom. As we await the Court’s decision, expected to come within a week of the hearing, here are three class members’ stories.
5 Key Takeaways from the New Borrower Defense Regulations
The final Borrower Defense rule published by the Department of Education on Monday, October 31, which is set to take effect on July 1, 2023, reflects many of the issues we’ve advanced through our litigation, strengthening protections for borrowers and adding needed safeguards to the federal student lending process. Here is PPSL’s take on how the new Borrower Defense (BD) rule will help borrowers.