Boston Student Loan Lawyer

Law Office of Adam S. Minsky

U.S. Dept. of Education Targets For-Profit Schools

| Articles Current Events For-Profit Colleges Loan Forgiveness Policy & Reform

This week, the U.S. Department of Education announced the creation of a new Enforcement Unit to target colleges and universities that engage in misconduct and deceptive practices. The new unit will be comprised of three components:

  • An investigative team that will audit colleges and universities;
  • A sanctions board that will punish colleges and universities who engage in misconduct (presumably by cutting off federal student aid, which often is key to funding these schools); and
  • A team of attorneys to review requests by borrowers for student loan forgiveness based on unfair and deceptive practices by schools.

Some other key facts about this new unit:Read More

Student Loan Law Outlook for 2016

| Articles Current Events For-Profit Colleges Income-Driven Repayment Policy & Reform

Happy New Year, and welcome to 2016!

2015 was a big year in student loan law. We saw the collapse of major for-profit colleges and the abrupt downfall of a major student loan assistance company. In what may come to be viewed as historically significant acts of civil disobedience, a sizeable contingent of student loan borrowers began a debt strike to protest the collusion of the federal student loan system and predatory for-profit colleges; protesters are demanding that their federal student loan debts be canceled. Meanwhile, consumer advocates became increasingly vocal in their criticisms of the U.S. Dept. of Education’s servicing and debt collection practices, sending waves through the industry. The year ended with the rollout of REPAYE, a new income-driven repayment plan for federal student loans.

What a year. Here’s what to expect (and what not to expect) during 2016:Read More

BREAKING: Huge For-Profit College Chain Settlement

| Articles Current Events For-Profit Colleges Loan Forgiveness

The Obama administration and state attorneys general have announced that they have settled a massive lawsuit they filed against Education Management Corp. (EDMC) – the parent company of large for-profit college chains such as the Art Institutes (including the New England Institute of Art). The lawsuit against EDMC was filed on the basis that the company defrauded students by using illegal recruitment tactics, providing sub-par education, and exaggerating its career-placement statistics.

Good news? Kinda-sorta.Read More