It has been reported that the U.S. Department of Education (USD) is placing significant pressure on states who are making efforts to regulate student loan collection companies. The USD is being accused of unfair consumer practices by interfering with states who are providing consumer protections against student loan debt collectors. Historically, State Attorney General offices have enforced consumer protection laws. USD is accusing states of undermining federal authority by enforcing consumer protections. This battle may continue for some time as the student loan debt is currently at record highs of 1.4 trillion and threatens the U.S. economy if large portions of student loans go into default similar to the mortgage crisis in 2009. This is a developing story that will continue to unfold as regulators seek a remedy in the future.
Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel, United Methodist Church on the Northern Neck in Montross, VA. Rev. Dr. Taylor promotes best practices for financial literacy and financial empowerment in the church and leads workshops throughout Northern Virginia. Currently, she serves as the Chair of the District Finance Committee. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, VA. Rev. Dr. Donna Taylor is married to Dr. David Taylor, who is also the Director of our church-based free clinic. They have two adult children and three grandchildren. In her leisure time, Rev. Dr. Taylor enjoys traveling, jogging, weightlifting, swimming, yoga, and interior decorating. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.