News

U.S. Promises to Make Good on Loan Forgiveness
Education Secretary Betsy DeVos finally responded, without detail, to Democratic lawmakers who sought answers on status of promised student loan discharge claims for defrauded borrowers. Ms. DeVos told lawmakers on May 24, 2017, that her department will follow through on promises to provide loan forgiveness to borrowers who attended for-profit colleges found to have defrauded students.
Read more in an article posted here:
https://www.insidehighered.com/news/2017/05/25/devos-says-education-dept-will-provide-relief-students-promised-loan-discharge#

Notice of Public Hearing on Proposed Rules
The Hawaii Post Secondary Education Authorization Program (HPEAP) published a notice of public hearing for April 20, 2017 in the Honolulu Star-Advertiser on March 17, 2017.
The hearing is to allow testimony for HPEAP’s proposed rules.
A copy of the proposed rules are available for review here: http://cca.hawaii.gov/hpeap/files/2016/04/Draft-Rules-for-Chapter-255-Title-16.pdf

The hearing will be held on April 20, 2017 from 9:30 a.m. at the King Kalakaua Conference Room in the King Kalakaua Building on 335 Merchant Street in Honolulu.
A full copy of the notice of public hearing is available here: https://cca.hawaii.gov/hpeap/files/2017/03/HPEAP-Notice-of-Public-Hearing-for-Rules.pdf

CFPB Suing Student Loan Servicer Navient
The Consumer Financial Protection Bureau (CFPB) is suing Navient, the nation’s biggest servicer of federal and private student loans, alleging that “Too many borrowers paid more for their loans because Navient illegally cheated them…”
Below are a couple of links for more information on the lawsuit and what actions students may take.
http://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-nations-largest-student-loan-company-navient-failing-borrowers-every-stage-repayment/
http://www.usatoday.com/story/money/personalfinance/2017/01/19/feds-sue-student-loan-giant-navient-what-borrowers-need-know/96767140/

DeVry University Agrees to $100 mil. Settlement that Includes Refunds and Debt Forgiveness
Under the settlement of a Federal Trade Commission (FTC) lawsuit alleging misleading ads touting high employment success rates and income for graduates, DeVry University will pay $49.4 million to qualifying students and $50.6 million in debt relief.
For more information please visit https://www.ftc.gov/devry
and
https://www.ftc.gov/news-events/press-releases/2016/12/devry-university-agrees-100-million-settlement-ftc
https://www.consumer.ftc.gov/blog/devry-settles-claims-deceptive-advertising-100-million