Bradley’s Education Finance team is experienced in providing full-service representation for student loan servicers and originators on a wide range of critical issues. From navigating emerging state licensing regulations to Higher Education Act compliance, we strive to provide thoughtful advice on the highly specialized and complex compliance and operational issues facing the education finance industry. Our lawyers also have a wealth of experience litigating borrower-driven cases across the country, including defending against claims brought under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), Servicemembers Civil Relief Act (SCRA), and state law claims related to loan origination, servicing, unfair and deceptive practices, and debt collection.

With our comprehensive understanding of federal statutes and regulations governing the education finance industry and the growing patchwork of state statutes and regulations in all 50 states, we routinely interface with state and federal regulators on issues of interest to student loan servicers and originators. Our legal team leverages its deep bench and proven proficiency to develop creative solutions that meet and exceed our clients’ goals.

In an environment of amplified news coverage and increasing regulatory scrutiny, Bradley’s Education Finance team understands the need for a tactful and comprehensive approach to regulatory compliance. Our attorneys help clients analyze and understand Consumer Financial Protection Bureau (CFPB) activities related to student loan origination and servicing and applicable regulatory oversight of the Department of Education and state supervisory bodies. We also offer clients assistance with fundamental issues such as:

  • Drafting model loan agreements
  • Developing comprehensive policies and procedures to ensure compliance with regulations related to establishing student loan collections, servicing, and enforcement
  • Ensuring compliance with state and federal laws
  • Assisting clients in responding to regulatory inquiries, including ombudsmen inquiries
  • Evaluating new and emerging loan products, including for fintech companies, for compliance with state and federal laws

In recent years, several states have enacted laws requiring servicers of student loans – including both private loans and loans made or guaranteed by the federal government – to maintain licenses and be subject to state regulatory oversight. Our Education Finance team has significant experience assisting clients in identifying licenses needed for student loan servicing and origination and assisting in the preparation of applications for those licenses through the NMLS system. Bradley attorneys have contacts in state banking and financial services oversight departments across the country and the experience needed to help clients navigate all license-related issues, including applications, requests for information, and identified potential violations.

Bradley attorneys have the skills and experience to successfully defend student loan servicers and originators in all stages of litigation and appeal against a wide spectrum of state and federal claims. Our deep bench also includes attorneys who specialize in bankruptcy law, with knowledge specific to the bankruptcy issues affecting the education finance industry. Bradley’s attorneys draw upon their industry-specific knowledge to help guide student loan originators and servicers in crafting tailor-made litigation strategy both on a case-by-case basis and with entire portfolios in mind.