Politico reports on a battle that affects anyone with college debt. If you defaulted on your loan but then agree to repay it, should you still pay a hefty fee to the debt collection agency?
POLITICAL MUSCLE TO PROTECT FEES: Amid a brewing political and legal battle over student loan collection fees, United Student Aid Funds – a guaranty agency at the center of the fight – is stepping up its lobbying game. Records filed this week show the organization spent $90,000 in the first half of 2016 to lobby against an Obama administration directive that limits its ability to charge certain fees to defaulted borrowers – the same amount it spent in lobbying during all of 2015.
– At issue is whether guaranty agencies collecting federally-backed loans are allowed to impose collection fees when a borrower defaults on his or her debt but quickly agrees to start repaying. The Obama administration says no. But USA Funds argues that the Higher Education Act permits them to impose such fees, and that the fees were longstanding industry practice before the Education Department’s directive upended it last year.
– USA Funds is now fighting that guidance in federal court, where its attorneys [http://politico.pro/29Q7sHg] and the government’s lawyers [http://politico.pro/29Q7MWJ ] sparred in filings this week over whether Congress originally intended to allow the fees. An attorney for USA Funds previously said that “hundreds of millions of dollars” are at stake in the case for his client and other guaranty agencies.
– But the non-profit organization – which is led by Bill Hansen, a former top education official in the Bush administration – is also waging a political fight against the Obama administration’s prohibition on the fees. In recent months, USA Funds hired lobbyists such as Ed Pagano, who was Obama’s deputy assistant for legislative affairs and a former Sen. Tom Harkin staffer, and Arshi Siddiqui, a former senior adviser to House Minority Leader Nancy Pelosi.
– A legislative provision blocking the administration’s ban on the fees was slipped into the education funding bill that House Republicans initially proposed earlier this month [http://bit.ly/29j15ff ]. But lawmakers removed the policy rider from the bill last week after Rep. Marcy Kaptur (D-Ohio) indicated she would fight the measure. In an email to Morning Education, her office called the rider “particularly insidious for disadvantaged student debtors.”
– An appeals court last year sided against USA Funds on this issue, ruling that a Minnesota woman was incorrectly charged $4,547 in collection fees (on her roughly $18,000 in outstanding debt) as she was trying to get her loans out of default. The Supreme Court declined to hear an appeal and that case is back at the district court [ http://politico.pro/1TEOBOW%5D. A judge is now weighing a decision in the separate lawsuit between USA Funds and the Education Department.

Diane, Thanks for your daily commentary. As a retired educator I learn and keep up with “news” through your blog. An idea: give your opinion and analysis of what Trump has said about education- anything? And how about the platforms of both parties? Perhaps a comparison of both. Thanks Bill Murphy Dunedin, Florida
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Thanks, Bill Murphy.
I thought that my summary of the GOP platform on education was summed up in the title: Anything but public schools.
The Democratic platform is considerably better after the improvements made by Sanders delegates Troy LaRaviere of Chicago and Chuck Pascal of Pennsylvania. They worked with Randi and got amendments added that protected the right of parents to opt their children out of mandated testing; language that disavowed closing public schools to make way for charters; and other amendments that focused on the health and well-being of children and families.
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No, no, no, no, no!!!!!
No more election coverage. More education coverage.
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The Obama administration wants to waive fees on defaults if the student agrees to repay?
How magnanimous of them.
Maybe if the US Department of Education had not been operating a loan shark program and making billions in profits off student loans (see this article), students would not be going into default in the first place.
The hypocrisy is so deep that you need an ocean going vessel to get through it.
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The part that is truly repulsive is how many middle aged people benefited from public investment in education.
It came time for us to pay and we said “good luck with that hundred grand in debt kids!”
It’s so selfish.
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You are so right,
We have mortgaged the future of our children and grandchildren.
The best example of that is what we are doing to the climate with CO2.
Most Republican “leaders” won’t even admit climate change is real, but most Democratic “leaders” are little better. They admit it’s real but only give it lip service.
The past 8 years under Obama have been a “Frack for all”. The recent Paris agreement is nonbinding window dressing.
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You’re right. The message is, “We got ours and, we don’t care about the young.” They’ll return that favor to us. The selfish attitude of older voters, won’t go unpunished. And, sadly that plays into the agenda of the oligarchs, having us fight among ourselves. instead of, against them.
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Let me speak up for the older voters who have refinanced mortgages and taken out Plus loans to help finance college educations for their children. Hey, I’m all for revamping the way a college education is financed, but I’m still trying to get out from under the debt I have. Don’t get me wrong; the cost of college is obscene, but those middle age folks are struggling, too. How the system is reformed cannot be on the backs of middle class folks.
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I know too many retirees, from industry unions, who started voting Republican, after they retired and, too many public sector workers and retirees, who vote Republican. Unions, should search their data banks for addresses and phone numbers, then, deliver a message to retirees and members about how vulnerable they are with Republican leadership (and, how Democratic politicians are forced to play ball with corporations and plutocrats to get campaign funds). The pension funds should drive home the point that member payments are jeopardized by voting, Republican. The AARP should join forces with the public sector and unions, to protect Social Security and Medicare, by issuing a roster of candidates for whom, to vote.
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“But the non-profit organization – which is led by Bill Hansen, a former top education official in the Bush administration – is also waging a political fight against the Obama administration’s prohibition on the fees. In recent months, USA Funds hired lobbyists such as Ed Pagano, who was Obama’s deputy assistant for legislative affairs and a former Sen. Tom Harkin staffer, ad Arshi Siddiqui, a former senior adviser to House Minority Leader Nancy Pelosi.”
The revolving door really can’t continue like this.
I don’t think the 18 to 22 year old college student population can afford to subsidize all these high- salary lobbyists.
It goes to a basic question, too. Should an 18 year old borrowing money for college consider the US Department of Education a reliable source of unbiased information?
I don’t think they can. I think they need advisers who don’t have a conflict of interest.
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Our financial services are a rigged system that exploit our young people and the poor. There are too many members of congress that are part of the problem. The debt burden of our young people will impact our economy as many young people will be unable to move out on their own and purchase homes and cars.
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At 61 I’m helping two of my children pay off their student loans. They won’t default because the money automatically come out of my bank account from my pension.
Something is wrong when parents have to use their social security or pension checks to pay off their offsprings college debts.
At least my kids got their degrees. Imagine if they owed all this $$$$ with nothing to show for it?
(My one daughter was working towards a career as a Physicians Assisstant but we convinced her that to continue (giving up her job for two years to complete the unpaid internship) wasn’t wise since the student loan would have eaten up any pay raise she might have gotten by this change in careers.)
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Duane, I think itis no longer true ( if ever it was) that you can make a clear distinction between politics and education. This is especially true in this era. There will be a difference on the other side of the election season, not only at the federal level but also at the state and local level. ALEC never sleeps. The 74 wined and dined Republicans at the convention. A lot of this is over my head and at the margins of my interest, but that was also true for NCLB…until I actually read and analysed that monstrosity. There is a lot of “dark money” flowing into local elections, including school boards. Anyone who is not paying attention is likely to wake up with a serious case of disorientation, which might be mitigated a bit with some mental preparation. If anything, the action in various states and districts, especially large metro areas, needs to be followed.
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Quite correct, Laura, about politics and public education being totally intertwined, as it should be because public education is just that-public and therefore political by nature.
I guess what I mean is enough of the flippant, farcical focus on inanities and stupidities as is done by the lame stream media, blogs and facebook. (and probably twitter but I don’t do that)
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In my opinion, the online for-profit colleges didn’t crater because of regulation. They cratered because young people figured out they were getting robbed. They had a horrible reputation.
Maybe the same thing will happen with student loans.
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The interest and penalties on the load are predatory, are hurtful of those desiring to attend college, and debilitating for those shackled with student loans after college, when they are trying to make it out in the “real” world….
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“The scammers are successful because the servicers aren’t providing the information and help that student loan borrowers need,” Madigan said on the call with reporters.”
Loan servicers shouldn’t be tasked with advising 18 year olds on debt repayment.
That’s insane. It’s worse than “fox in hen house”.
It’s the US Government delivering the hens to the fox, wrapped up with a pretty bow.
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Chiara,
Your comments continue to show your ignorance of both the program and the roles of each of the participants. These are Federal Loans and the servicer’s are paid by ED to do the right thing as ED is on the hook for losses.
NO entity is rewarded for defaults. Do some homework before you comment.
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When a student defaults on a loan, who should pay for the collection agency to contact them and get them into repayment arrangements? Most don’t understand that you have to go 270 days with no payment to default. At that point you would have been charged late fees and other charges on all other debts, but not on student loans.
This is important as this is money that the student owes, is willing to pay back, but didn’t do anything until they defaulted and were placed with a collection vendor. Why is it the taxpayer’s responsibility to pick this up?
Example: Student defaults on loan for $1000. Collection agency charges 10% to collect ($100). Now the Department of Education has paid out $1,100 and by not charging the student the $100, they can only collect back $1000.
Before everyone talks about the greedy lenders, this is the case on Federal Direct Loans the same as old loans (FFEL Program ended in 2010) made by lenders. Furthermore, if you think that the 6+% interest rate covers all the defaults on student loans, as well as death, disability, closed school, public service loan forgiveness, and teacher loan forgiveness, you don’t understand math.
The best way to avoid the fees is to work with the servicer. With income based repayment, there is no reason to default. It would be good if the author did a little homework rather than reading from someone’s talking points.
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The lenders choose to take the chance when they lend the money. If they aren’t repaid, tough luck, get into another line of business. They’re gambling with their money and sometimes one wins and sometimes one looses. Cry me no river for the money handlers.
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I was reading edushyster’s interview with an economist on labor unions:
“The new laws restricting bargaining rights in those four states reduced teacher salaries by about 9%. ”
9% is a huge drop. How can ed reformers continue to claim they support teachers when their policies result in a 9% drop in pay? Wow. That’s a big hit.
http://edushyster.com/what-if-everything-you-thought-you-knew-about-teachers-unions-turned-out-to-be-wrong/#more-8026
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We took a 2nd mortgage via a HELOC to pay for our college – and we’re still paying and she graduated in 2010. I’ll be paying it forever, with no relief except when/if we sell our humble home and pay it off completely. Should have taken student loans? Not sure which is worse.
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“The last liberal standing in the VP list”, is Perez. If Clinton won’t even give the base, that bone…..and instead, gives us a VP, little different on the economy, than Pence, America will be without hope.
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Perez is from Buffalo, NY. He would be an excellent choice for VP. I’ve heard him speak and he understands the problems that the middle class and minorities face when trying to achieve the “American Dream”.
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People have to think of student loans just like this: Will I see a return from my investment?
It’s dumb to major in degrees from expensive colleges that will only yield salaries of 30K or less.
NO TEACHER SHOULD HAVE TO PAY BACK THEIR STUDENT LOAN IF THEY BEO ME LIFELONG EDUCATORS.
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Why limit your idea to just teachers. This country has more than enough wealth to fund education for all to as high a level as one might desire. We just lack the political will to make that happen.
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