News
Judge rules to erase the student loans of 200K borrowers who say they were ripped off | NPR
The lawsuit, Sweet v. Cardona (formerly Sweet v. DeVos), centered on a federal rule, known as borrower defense, that allows federal student loan borrowers to ask the department to erase their debts if a school has lied to them – about their job prospects, their credits' transferability or their likely salary after graduation.
Court Approves $6 Billion In Student Loan Forgiveness For 200,000 Borrowers To Resolve Lawsuit | Forbes
A federal court has approved a landmark settlement that will lead to an estimated $6 billion in student loan forgiveness for over 200,000 borrowers.
Student Borrowers Win Final Approval of Settlement to Cancel Over $6 Billion in Loans for 200,000 Borrowers
Student borrowers today won final approval of a settlement with the US Department of Education in the class action lawsuit Sweet v. Cardona. The agreement, which received preliminary approval on August 4, 2022, states that the Department will immediately cancel at least $6 billion in student loans for approximately 200,000 individuals with pending borrower defense applications.
The Borrower Stories Behind Sweet v Cardona | Student Loan Truth
On November 9th, Sweet v. Cardona borrowers had the chance to attend the hearing for final settlement approval in person, with 1,000 of their fellow class members listening over Zoom. As we await the Court’s decision, expected to come within a week of the hearing, here are three class members’ stories.
5 Key Takeaways from the New Borrower Defense Regulations
The final Borrower Defense rule published by the Department of Education on Monday, October 31, which is set to take effect on July 1, 2023, reflects many of the issues we’ve advanced through our litigation, strengthening protections for borrowers and adding needed safeguards to the federal student lending process. Here is PPSL’s take on how the new Borrower Defense (BD) rule will help borrowers.
Student Borrowers Ask Court for Final Approval of Settlement to Cancel Over $6 Billion in Loans for 200,000 Borrowers
Student borrowers filed a joint motion for final approval of a settlement with the US Department of Education today in the class action lawsuit Sweet v. Cardona.
In Major Victory, ITT Students Secure Full Debt Cancellation | Press Release
In another major victory for defrauded former for-profit college students, today, the U.S. Department of Education announced that it would fully discharge all remaining federal student loans for borrowers who attended ITT Technical Institute (ITT) from January 1, 2005, through its closure in September 2016. All told, this means 208,000 borrowers will receive $3.9 billion in full loan discharges.
200,000 student-loan borrowers get a 'grand slam' after a federal judge moves them closer to $6 billion in debt cancellation | Insider
Thousands of student-loan borrowers defrauded by for-profit schools just got one step closer to getting their debt wiped out.
Judge Grants Preliminary Approval of Borrower Defense Settlement in Sweet v. Cardona
On Thursday, August 4, Judge William Alsup granted preliminary approval of the proposed joint settlement in the lawsuit Sweet v. Cardona. Upon final court approval, the settlement will immediately cancel at least $6 billion in federal student loans for approximately 200,000 individuals.
Hearing Scheduled for Thursday in Sweet v. Cardona on Borrower Defense Settlement
On Thursday, August 4, Judge William Alsup will hold a hearing on preliminary approval and intervention in the lawsuit Sweet v. Cardona, regarding the proposed joint settlement agreement and colleges’ motions to intervene in the settlement. Upon final court approval, the settlement will immediately cancel at least $6 billion in federal student loans for approximately 200,000 individuals.