Archives for Student Loans

Educational Institutions Have Cybersecurity and Infrastructure Security Compliance Obligations

Categories: Higher Education, K-12, and Student Loans.

On April 3, 2019, Jonathan Vogel attended a program at McGuireWoods LLP on the federal government’s newly formed Cybersecurity and Infrastructure Security Agency (CISA) within the U.S. Department of Homeland Security. Cybersecurity and infrastructure security are issues that impact many areas of the public and private sectors, including schools, colleges, and universities. Aside from complying with the Family Educational Rights and Privacy Act of 1974 (FERPA) — which protects the privacy of student education records at all schools, colleges, and universities that receive funds under an applicable program of the U.S. Department of Education – educational institutions should be mindful that
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New Financial Aid Disclosure Template Will Make College Costs and the Options for Affording Those Costs Clearer to Prospective and Current Students

Categories: Higher Education and Student Loans.

On January 16, 2019, the Education Department announced that it is introducing a new template for colleges and universities to use to disclose financial aid information to prospective and current students. The College Financing Plan, which was previously named the Financial Shopping Sheet, is intended to be more user friendly to both institutions and students. The nation’s student loan debt has skyrocketed to nearly $1.5 trillion, and some borrowers may have benefited from a clearer explanation of the costs and options for affording those costs. The College Financing Plan attempts to set forth in a clearer format the various components
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Jonathan Vogel Discusses What College Students Should Do If Their School Suddenly Closes

Categories: Higher Education and Student Loans.

On January 7, 2019, Jonathan Vogel appeared on WSOC-TV (Charlotte) news to discuss what college students should do if their school suddenly closes. Vogel noted that students who seek to transfer should ensure that they obtain a copy of their transcript and any school catalogs, course guides, and course syllabi. If they have earned a credential (degree/certificate) from the college prior to its closing, then they should ensure that they physically obtain it. With respect to the transfer of credits, the receiving school will likely examine whether the prior school was accredited, whether the credits were for on-campus or online
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Education Department Discharges Approximately $150 Million in Student Loans, Helping About 15,000 Borrowers Who Attended Colleges and Universities that Closed

Categories: Student Loans.

On December 13, 2018, the U.S. Department of Education announced that it was automatically discharging the student loans of approximately 15,000 borrowers who attended a college or university that closed between November 1, 2013 and December 4, 2018. The approximate amount of loans that will be automatically discharged is $150 million, of which approximately $80 million is attributable to loans taken out by borrowers who attended schools operated by Corinthian Colleges, Inc. The Department’s seemingly friendly action was actually prompted by a decision from a federal court in Washington, DC that forced the Department to act. The court invalidated the
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