Meratas didn't get the Lambda/BloomTech ruling

Were you previously on Leif and moved over? Or were you always on Meritas?

Oof this is complicated. I do know a lot about this stuff in general but I don't know the specifics of Lambda School's implementation. So first off, just a note - it wasn't a court ruling, but a settlement agreement Lambda School came to with the government. Small detail but important to note for the record for future people, that a court didn't rule on this. Leif has some ISAs that it manages for programs but the program ultimately owns the contracts. My understanding, WHICH MIGHT BE WRONG, is that only those contracts are invalidated in this because the settlement states that the effective interest was not clearly communicated upfront and people need to be given the option of paying interest free instead as an alternative option. Leif also has ISAs that it finances and 'owns' where the school gets a loan upfront for some of the upfront equivalent cost and gets a portion of the monthly payments when the student places and gets a job. This version of the ISA I do NOT think is covered by that settlement, BUT I MIGHT BE WRONG. In this case Leif is responsible for disclosing proper terms and you would have to report Leif itself. Since this was a settlement between Lambda School and the government it doesn't set a precedence for ALL ISAs, like ones Leif or others own and it's possible that some Leif ISAs are terminated and others aren't affected at all. That said, Leif is abruptly transferring out management of their ISAs, sure to cause a lot of confusion, and taking your time and waiting and seeing might not be bad. Just read all the fine print, I'm NOT A LAWYER, JUST A FRIEND. lol

I can't give official advice, but I can say that I wouldn't assume Leif or Meritas didn't make any mistakes in the transition of providers so I would question it and push back.