Our second blog post about the Borrower Defense to Repayment Rule focuses on the impact of the new rule on Direct Loan borrowers and the bases for borrower defense claims and how those claims will be processed.
After announcing plans for a new rule last summer, the Department of Education has, unofficially, issued its long awaited new update to the borrower defense to repayment rule.
At Long Last…ED Issues Guidance Regarding Implementation of the 2016 Borrower Defense to Repayment Rules
The Department of Education has issued guidance to institutions on the Borrower Defense to Repayment regulations.
The Borrower Defense to Repayment Rule is back, thanks to a September 17 federal court order that overturned Secretary DeVos’ action suspending implementation of the existing rule, followed by the October 16 final order denying CAPPS’ request for injunctive relief.
The drama surrounding the US Department of Education’s Borrower Defense to Repayment Rule continues, with the date the rule would come into effect now delayed to July 1, 2019.
The 2017 NASFAA National Conference is June 26-29 in San Diego, California. The annual NASFAA conference brings together 2,500+ student aid professionals from across the nation. Members of the Cooley team will be presenting throughout the conference.
The Department announced today that it will delay Borrower Defense and will convene a new “Mega Neg Reg,” which will include Borrower Defense and Gainful Employment.
BDTR is likely to be one of the final major regulatory initiatives under the Obama administration, and one that will be in pre-effective date status on January 20th when Donald Trump becomes President.
Before the end of this month, the U.S. Department of Education (ED) is expected to issue a new set of regulations to provide students and former students with expanded rights to avoid having to repay their federal loans based on certain acts or omissions of the institutions they attended.