Department of Education to provide full loan relief to student loan borrowers with approved borrower defense claims
By EsqSocial Corporation 24/03/21
The Department of Education announced last week that it is changing how it determines relief for borrowers who assert “borrower defense claims.” Such claims allege that the borrower was misled by his or her school or that the school engaged in other misconduct in violation of certain laws. Borrower defense claims only apply to federal loans made under the William D. Ford Direct Loan Program. ED anticipates that this change will impact approximately 72,000 borrowers and result in $1 billion in...
By: Ballard Spahr LLP