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ARTICLE · 17 JUNE 2019

Education Dept. Confirms Requirements To Report Litigation, Settlements, Specified Liabilities

Holland & Knight
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New guidance confirms that both private and public institutions of higher education must notify the U.S. Department of Education about specified liabilities and lawsuits.

United StatesConsumer Protection
Paul Lannon
Paul Lannon
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Paul Lannon is a Partner, Philip Catanzanois a Senior Counsel and Matthew Sloane is an Associate in Holland & Knight's Boston office

Highlights

  • Recently released guidance from the U.S. Department of Education's Office of Federal Student Aid (FSA) confirms that both private and public institutions of higher education must report litigation, settlements and other specified liabilities.
  • The new guidance – which addresses the notice requirements in the provision of the federal student aid regulations known as the Borrower Defense to Repayment – states that all private and public institutions participating in the federal student aid program must report all settlement liabilities and any litigation brought on or after July 1, 2017, "regardless of the type of legal action or the size of the claim."

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