student loans

The Undue Hardship Test Is Really Harsh

09/24/19
The Fifth Circuit has released a new opinion which underscores just how hard it is to discharge a student loan under the undue hardship standard.   Thomas v. Department of Education (In re Thomas), 931 F.3d 449 (5th Cir. 2019).    
A Sympathetic Debtor
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'These foolish ideas': Comments of the week

09/19/19

Readers react to plans by Democratic presidential candidates to reform college tuition, credit unions buying more banks, whether the next president could fire the CFPB head and more.

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Student loan disclosures top new CBA chair’s Hill agenda

09/18/19

Nitin Mhatre of Webster Financial explains why the Consumer Bankers Association — whose members want a bigger piece of the student lending market — backs legislation that would make the federal government tell borrowers how much they will ultimately owe, as private lenders are already required to do.

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What student lenders think about Warren, Sanders reform plans

09/12/19

The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.

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Biden v. Warren: Banking could take center stage in Democratic debate

09/09/19

When the former vice president and Massachusetts senator appear together in Houston, they could present two contrasting visions of financial policy within the presidential field.

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Student borrower protection bill stalls in California

09/06/19

A legislative measure would have made the Golden State the first in the nation where aggrieved borrowers could sue their servicers. The bill was delayed until 2020 after banks and other financial companies expressed opposition.

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P2P lenders faces challenges; Student debt relief scams

08/27/19

An economic downturn is likely to force industry consolidation; the legit firms only offer borrowers things they can get for free, while others are scams.

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CFPB names student loan servicing exec as ombudsman

08/16/19

Robert G. Cameron, a former official at the Pennsylvania Higher Education Assistance Agency, will succeed Seth Frotman as the bureau's point person on student lending complaints.

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Is it time to worry about mounting credit card debt?

08/13/19

Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom.

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The Fifth Circuit Finds a Way to Make It Even Harder to Discharge Student Loans in Bankruptcy

08/02/19

On Tuesday, the United States Court of Appeals for the Fifth Circuit released an opinion that, if anything, makes it even more difficult to discharge student loans in bankruptcy. Writing for a three-judge panel in a case called In re Thomas, Judge Edith Jones reaffirmed the court's commitment to the existing case law and added yet another judicial gloss to the words of the statute.

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