American Bar Association v. United States Department of Education

Lawsuit Filed to Stop Wastage of EB-5 Investor Visas

Retrieved on: 
Saturday, August 6, 2022 - 4:02am

This lawsuit seeks to compel the State Department to follow the plain language of its own regulations...

Key Points: 
  • This lawsuit seeks to compel the State Department to follow the plain language of its own regulations...
  • Approximately 18,000 EB-5 visas were wasted last fiscal year and cannot be used anymore without Congressional action.
  • In fiscal year 2022, ending September 30, 2022, over 11,000 immigrant visas should be available to China-mainland EB5 investors, and it is almost certain most of these will be wasted.
  • Without judicial intervention, they will be waiting many more years for a green card while the government wastes thousands of visas.

New Survey Finds 63% Of College Students Regret Taking Out A Loan

Retrieved on: 
Thursday, April 21, 2022 - 1:38pm

JACKSON, Wyo., April 21, 2022 /PRNewswire/ -- Sixty-three percent of people regret taking out a student loan, according to a new survey from Givling, the patented crowdfunding trivia game that helps users eliminate debt. The survey of more than 1600 student loan borrowers across the US revealed that nearly half have been paying on student loans for more than 10 years and more than a quarter said they currently carry more than $70,000 in student loan debt. Twenty-seven percent of respondents said that the ROI just isn't enough to justify the debt.

Key Points: 
  • New survey of more than 1600 student loan borrowers confirms:
    JACKSON, Wyo., April 21, 2022 /PRNewswire/ --Sixty-three percent of people regret taking out a student loan, according to a new survey from Givling , the patented crowdfunding trivia game that helps users eliminate debt.
  • Key findings from Givling's Student Debt Lookback Survey include:
    Seventy-two percent of people who financed their education with a student loan regret their decision.
  • This survey of 1622 student loan borrowers within the United States was conducted online by Pollfish on behalf of Givling from March 22-28, 2022.
  • Givling, a crowdfunding trivia game, has awarded nearly $10 millionto its users to reduce student loan and mortgage debt.

MEFA Consumer Alert: Federal Student Loan Borrowers Should Prepare for Restart of Payments in January

Retrieved on: 
Thursday, December 16, 2021 - 7:30pm

MEFA is advising federal student loan borrowers to prepare now for resuming their monthly payments early next year.

Key Points: 
  • MEFA is advising federal student loan borrowers to prepare now for resuming their monthly payments early next year.
  • As part of that mission, its important to ensure that Federal Student Loan borrowers are aware of how to prepare for the end of the federal student loan forbearance.
  • Though MEFA offers a private loan product, we continue to communicate with federal loan borrowers about preparing for repayment, and we also encourage anyone with a federal student loan to visit the Federal Student Aid dedicated site at StudentAid.gov/coronavirus .
  • While the federal student loan forbearance benefited millions of Americans, it also created challenges for both borrowers and loan servicing companies, said Mayotte, whose non-profit offers free student loan advice and dispute resolution services.

Pierce Bainbridge Files a Class Action Complaint Against FedLoan Servicing and Nelnet For Their Mismanagement of the Public Service Loan Forgiveness Program

Retrieved on: 
Friday, March 1, 2019 - 2:30pm

NEW YORK, March 1, 2019 /PRNewswire/ -- Pierce Bainbridge Beck Price & Hecht LLP has filed a class action complaint alleging that student loan servicers violated consumer protection and other laws in connection with the federal Public Service Loan Forgiveness program.

Key Points: 
  • NEW YORK, March 1, 2019 /PRNewswire/ -- Pierce Bainbridge Beck Price & Hecht LLP has filed a class action complaint alleging that student loan servicers violated consumer protection and other laws in connection with the federal Public Service Loan Forgiveness program.
  • If you believe errors or malfeasance by a loan servicer have prevented or delayed you from receiving Public Service Loan Forgiveness by the federal government, you are encouraged to contact Pierce Bainbridge for additional information about your legal rights and options at https://piercebainbridge.com/loan-forgiveness/ .
  • The Public Service Loan Forgiveness ("PSLF") program, administered by the U.S. Department of Education, was created by the College Cost Reduction and Access Act of 2007 to provide public- and nonprofit-sector employees with an opportunity to eliminate their student loan burden.
  • The PSLF program requires borrowers to make 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.