They Were Paying Their Student Loans. Then the Rules Changed. Congress changed repayment terms for some existing borrowers, potentially requiring higher payments over a longer period even after years of repayment. Read More
Education Department Ordered to Forgive Student Loans for 170,000 Borrowers This video reports on a court order requiring the Department of Education to provide borrower-defense relief to approximately 170,000 people who said their schools defrauded them. Watch Video
Student Loan Borrowers Told to Resubmit Applications After Payment Errors Some borrowers received incorrect income-driven repayment amounts and were instructed to submit new applications, adding further delays and uncertainty to the repayment process. Read More
Defrauded Student Loan Borrowers Move Closer to Settlement Relief A major development in the Sweet v. McMahon settlement may bring long-awaited debt cancellation to borrowers who say they were misled by their schools. Read More
Student Loan Defaults Reach Record Highs Approximately 9.5 million federal student loan borrowers are now in default following the end of pandemic-era payment protections, exposing many to damaged credit and possible involuntary collection. Read More
New Repayment Assistance Plan: How Borrowers May Qualify The new Repayment Assistance Plan bases federal student loan payments on income, offers interest protections, and may reduce principal for borrowers who make qualifying on-time payments. Read More
SAVE Plan Borrowers Given 90 Days to Choose Another Repayment Plan The Department of Education has begun notifying borrowers enrolled in SAVE that they must move to another repayment option within 90 days, making it important to compare available plans carefully. Read More
What to Know About Federal Student Loan Changes Effective July 1 This video summarizes the new federal repayment choices, borrowing rules, and other student loan changes that took effect on July 1. Watch Video
Lawsuit Seeks Proof That Promised Student Loan Relief Was Delivered A new lawsuit asks the Department of Education to document whether promised relief and account corrections were completed for roughly 1.5 million borrower-defense applicants. Read More
Borrowers Warned to Compare New Repayment Plans Carefully The Tiered Standard plan does not qualify for Public Service Loan Forgiveness, while the Repayment Assistance Plan may count but could cost some borrowers more than legacy income-driven options. Read More
Trump Administration Announces Temporary Student Loan Interest Rate Reduction for Eligible Borrowers
The U.S. Department of Education will temporarily lower federal student loan interest rates by 1% for eligible borrowers enrolled in automatic payments beginning July 1, 2026. The incentive is designed to encourage on-time payments and help borrowers avoid default, though eligibility is limited and the reduced rate is scheduled to expire on June 30, 2028.
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Student Loan Relief Update.
The Department of Education has begun notifying approximately 30,000 borrowers that their federal student loans will be discharged under the Sweet v. McMahon settlement. Eligible borrowers may receive loan forgiveness, refunds, and credit corrections, with relief expected within one year. Read More
He grew up in the shadow of the 'Wolf of Wall Street'. Then he got into debt settlement.
Read an article from the NY Times about Ryan Sasson, who former clients and prosecutors are calling exploitative. Read More
You may find some of these sites helpful.
Bankruptcy and Other Legal Resources
- nacba.com – The National Association of Bankruptcy Attorneys. Stephen Berken is the former state chair for Colorado. NACBA is the leading consumer debtor organization for bankruptcy professionals.
- abiworld.org – The American Bankruptcy Institute. Stephen Berken is the state co-chair for ABI continuing legal education. ABI produces an excellent monthly journal, and has excellent resources.
- facultyfederaladvocates.org – The Faculty of Federal Advocates. If you qualify, an attorney may assist you in defending an adversary case without charge.
- law.abi.org – Interactive Bankruptcy Code and Rules.
- law.cornell.edu - Cornell Law School sponsored bankruptcy code and rules. We use this site frequently.
- studentloanborrowerassistance.org – As student loans are not dischargeable (with few rare exceptions) this site might help you navigate choices.
- cob.uscourts.gov – United States Bankruptcy Court for the District of Colorado. The site contains recent legal decisions by the judges, and link to the code and local bankruptcy rules.
- abcworld.org - The American Board of Certification. Both Stephen Berken and Sean Cloyes are certified experts. (Not too many of us in Colorado).
- courts.state.co.us/forms - Self-help legal forms. A good resource.
- irs.gov/individuals - IRS account transcripts. Are your taxes dischargeable? Ask for the “account” transcript.
Other Sites
- naca.net – The National Association of Consumer Attorneys. Everything from lemon law to foreclosure defense.
- zabasearch.com - A free search resource for finding people who own or have owned real estate.
- creditkarma.com- a list of secured credit card companies to help re-establish credit.
- denvercommunity.coop - Denver Community Credit Union. It has a program to reestablish credit.
- telespoof.com – Learn more about “spoofing” and how collectors trick consumers.
- dora.state.co.us – Colorado’s Real Estate Commission approved forms.
- sos.state.co.us – The Colorado Secretary of State’s website for finding companies and UCC-1 Financing Statements.
- annualcreditreport.com – Get your free credit report here. Credit reports are not perfect, but a good source to find out who your creditors are.
- advance.lexis.com – How to find Colorado statutes.
- colorado.gov – The State of Colorado’s official website.
- cbirecordscheck.com – Colorado Bureau of Investigation website. It has a database of arrest records. Check out your potential roommate or tenant.
