The Wall Street Journal reported today that the White House is weighing whether to make it easier for Americans to discharge student loans through bankruptcy. Federal law prohibits student loans — whether made by private lenders or the federal government — from being wiped out in bankruptcy, except in rare circumstances. In a presidential memorandum…

Bloomberg News reported that a group of Senate Democrats, led by Elizabeth Warren of Massachusetts, urged the government to offer relief to distressed borrowers, even if that dampens the profit it makes from collecting on people with outstanding loans. In a letter to Education Secretary Arne Duncan,the six senators wrote, “It is not the job…

Accoring to a USTP press release, the U.S. Trustee Program has entered into a national settlement agreement with JPMorgan Chase Bank which will require Chase to pay more than $50 million including cash payments, mortgage loan credits and loan forgiveness to over 25,000 homeowners who are or were in bankruptcy. Chase has also agreed to…

As reported on February 28, 2015 by Student Loan Borrower Assistance, the Department of Education announced late in the day on Friday that following a review of 22 private collection agencies, the Department will “wind down” contacts with five agencies that were “…providing inaccurate information to borrowers.” The five companies are: Coast Professional, Enterprise Recovery…