CFPB Describes Transcript Holds as “Abusive”
A recent report from the consumer watchdog calls on schools to discontinue blanket policies for withholding transcripts as a tool to force students to make payments. NACUBO plans to respond with a letter expressing concerns with the CFPB’s position.
CFPB, ED Look at Campus Banking Relationships Again
In a recent report and subsequent guidance, institutions were reminded that they have a responsibility to protect their students when it comes to financial products and must comply with reporting and disclosure requirements. NACUBO has several resources to assist institutions.
ED Releases New Set of Rules for Institutions Receiving Title IV Aid
The regulations address borrower defense to repayment, mandatory arbitration, interest capitalization on federal loans, closed school discharges, false certification discharges, Public Service Loan Forgiveness, and total and permanent disability discharge.