News Topic: Student loan ABS

Student CU Connect CUSO, which had made high-risk loans to students of the now-bankrupt ITT Technical Institute, agreed to a settlement resulting in an estimated $168 million of loan forgiveness. ... Read full article

Navient Corp. shares surged after Canyon Capital Advisors said it could boost a $3.1 billion takeover offer that was rejected by the student-loan servicer. ... Read full article

The company has filed a request with a federal judge in Pennsylvania for a summary judgment in two counts against it, accusing the bureau of failing to provide evidence. ... Read full article

Many banks remain wary of student loans given the government's dominance in the market, but some fintechs see untapped potential. ... Read full article

A two-year-old lawsuit by the CFPB may be languishing, but nine members of the Teachers Federation of America sued the student loan servicing giant alleging that it misled borrowers in public service professions in order to line its pockets. ... Read full article

The report from an advocacy group that focuses on college affordability says that schools need to do a better job of educating students about their eligibility for federal loans, which typically carry lower interest rates than loans from banks and other ... Read full article

Seth Frotman, whose student lending unit had been gutted in May, said the bureau's current leadership "has abandoned its duty to fairly and robustly enforce the law.” ... Read full article

Cheap funding and marketing muscle could give it an advantage over existing lenders, but this corner of the market may not be big enough to move the needle for the bank. ... Read full article

Nelnet’s planned bank would be an online enterprise focused on gathering deposits and making private student loans. ... Read full article

Are American college students using their student loan dollars wisely? A LendEDU study explored how those funds are spent. ... Read full article

Timothy Bowler, president of the ICE Benchmark Administration, which has been responsible for calculating the index since mid-2013, argues that there is a strong case for keeping it going. ... Read full article

The nation's largest private student lender plans to use $30 million of its anticipated tax-cut windfall to speed up its diversification plan and strengthen its digital capabilities. ... Read full article

The two Democratic lawmakers sent a letter Monday to the four largest servicing companies asking them to address borrower complaints. ... Read full article

ReliaMax is an unusual kind of marketplace lender that says it can help regional and community banks take advantage of business opportunities in private student lending. ... Read full article

Introducing limits on federally guaranteed loans to graduate students, instead of letting them borrow whatever schools charge, would create a multibillion-dollar opportunity for private lenders. ... Read full article

Residents' low incomes usually disqualify them for standard student loan refinancings, but SoFi and other lenders describe these borrowers as strong credits with high earnings potential who could offset some of the risks lurking in student loan pools. ... Read full article

The tighter spreads on the fintech student lender's latest securitization should help offset a rise in the underlying benchmark rates, keeping its funding costs low — and helping it compete more effectively. ... Read full article

While some tackle the problem by offering their own consolidation loans, Sallie Mae is developing products with extended terms that reduce borrowers' monthly payments in an effort to discourage borrowers from refinancing in the first place. ... Read full article