Student Loan Programs
September 28, 2016
The U.S. Department of Education today announced that the three-year federal student loan cohort default rate dropped from 11.8 percent to 11.3 percent for students who entered repayment between fiscal years 2012 and 2013. The trend has moved downward since FY 2010, when the cohort default rate stood at 14.7 percent.
March 25, 2016U.S. Department of Education Announces Path for Debt Relief for Students at 91 Additional Corinthian Campuses
The U.S. Department of Education announced today that students who were defrauded at 91 former Corinthian Colleges Inc. (Corinthian) campuses nationwide have a clear path to loan forgiveness under evidence uncovered by the Department while working with multiple state attorneys general.
March 11, 2016U.S. Department of Education Takes Further Steps to Protect Students from Predatory Higher Education Institutions
The U.S. Department of Education released today a proposal that would establish borrower-friendly processes for seeking and obtaining loan relief triggered by unscrupulous conduct by higher education institutions. The Department also provided options to negotiators that would protect students from the use of mandatory arbitration provisions in enrollment agreements.
November 17, 2015Department of Education and Attorney General Kamala Harris Announce Findings from Investigation of Wyotech and Everest Programs
After analyzing several years of job placement rates reported by Corinthian College's Wyotech and Everest programs, along with evidence provided by California Attorney General Kamala Harris, today, the U.S. Department of Education is announcing the results from the joint investigation which concluded the programs misrepresented their placement rates to enrolled and prospective students.
September 3, 2015
U.S. Department of Education Under Secretary Ted Mitchell and Special Master Joseph Smith will hold a press call today with reporters at 11 a.m. EDT on the Department's first progress report on the borrowers' defense process from Special Master Joe Smith.
May 26, 2015
February 27, 2015
Following a review of 22 private collection agencies, the U.S. Department of Education announced today that it will wind down contracts with five private collection agencies that were providing inaccurate information to borrowers. The five companies are: Coast Professional, Enterprise Recovery Systems, National Recoveries, Pioneer Credit Recovery, and West Asset Management.
February 4, 2015U.S. Departments of Education and Treasury Continue Raising Awareness of Income-Driven Repayment Options for Federal Student Loans
The U.S. Treasury Department and the U.S. Department of Education will continue working with tax preparers during the 2015 tax filing season to increase federal student loan borrowers' awareness of income-driven repayment plans.
August 29, 2014
As a result of President Obama’s executive actions to help make student loans more affordable, the U.S. Department of Education has announced several new steps to help federal student loan borrowers better manage their student debt.
January 24, 2014U.S. Departments of Education and Treasury Announce Collaboration with Intuit Inc. to Raise Awareness about Income-Driven Repayment Options for Students Loans
The U.S. Department of Education, the U.S. Department of Treasury, and Intuit Inc. announced today an innovative private-public collaboration to raise awareness about income-driven repayment plans and other repayment options for federal student loan borrowers.