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List of Schools Where Borrowers Qualified for a Group Discharge. Since 2021, many borrowers have already had their loans discharged under a group discharge, including those who haven’t yet filed ...
The first group of class members — approximately 200,000 borrowers — whose school is on the list will “automatically get “full settlement relief, which includes full discharge of their ...
Student loan borrowers may have their existing federal student loan debt removed if they can prove that their school misled them. The program is called Borrower Defense to Repayment or Borrower Defense. Subsidies are conditional depending on financial need. Pricing and loan limits are determined by Congress.
The initiative was unveiled on a new webpage launched by the U.S. Department of Education’s Federal Student Aid agency, under the heading of “Borrower Defense Loan Discharge.” The page ...
In 2017, the advocacy group the Debt Collective created its own, unofficial "Defense to Repayment App" allowing former students of schools accused of fraud to pursue debt cancellation. [80] From 2017 to 2020, the Donald Trump administration accused the government of regulatory overreach and loosened regulations. [81]
The class action was brought by a group of more than 200,000 student borrowers, assisted by the Project on Predatory Student Lending, part of the Legal Services Center of Harvard Law School. A settlement was approved in August 2022, stating that the schools on the list were included "substantial misconduct by the listed schools, whether ...
So far, he’s canceled $22.5 billion for more than 1.3 million borrowers through the borrower defense program for people who went to schools like the now-defunct, for-profit Corinthian Colleges.
On November 17, 2022, Alsup ruled in favor of 200,000 student loan borrowers in a class action lawsuit who claim that they were defrauded by for-profit colleges/universities. Alsup calls the program's backlog "an impossible quagmire... As of now, approximately 443,000 borrowers have pending borrower-defense applications. That is a staggering ...