Council for Education 

4625 West Nevo Drive Suite 2 & 3        
Las Vegas, Nevada 89103                                
v. 800‐307‐1076 x 1|  f. 877‐459‐7907 
e. director@CforED.com 
w. https://CforED.com 

Sent via electronic mail

August 1, 2018 Deputy Tara Hagan

Board of Finance
101 N Carson Street, Suite 4
Carson City, Nevada 89701

Grant Hewitt
Nevada's Education Savings Account Program
State Treasurer Chief of Staff
101 N Carson St, Suite 4
Carson City, NV 89701

RE: NOTICE OF A TAX-EXEMPT PRIVATE ACTIVITY BOND

(STUDENT LOAN HOLIDAY)

Dear Ms. Hagan and Mr. Hewitt,

The purpose of this letter is to notify you that on August 3, 2018, the Council for
Education (CED) intends to publish a Tax-Exempt Private Activity Bond (Student
Loan Holiday) using a notice in a newspaper of general circulation in the state of
Nevada. The CED intends to initiate a class action suit for a breach of a Federal
Direct Loan or the provision of educational services for which a Federal Direct Loan
was obtained against the state of California, et al., and we estimate the amount of
restitution to the state of Nevada will be over $2 billion.

On June 11, 2018, the Council for Education, a domestic non-profit corporation
registered with the Secretary of Nevada, notified1 the U.S. Department of Education
in public comments filed in the Federal Register that the organization intends to
petition the courts for restitution on overcharges in the administration of the federal
student loan program by the state of California on behalf of Nevada state residents.
The CED intends to accomplish this through a class action.

1
See, Public Comments by the Council for Education in Opposition to the Delay of Program Integrity
and Improvement, a Proposed rule by the U.S. Education Department (83 FR 24250)/(Comment on FR
Doc # 2018-11262), p.4, (June 11, 2018), the URL link is available at
https://www.regulations.gov/document?D=ED-2018-OPE-0041-0039.
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(c) CED 2018| The Council for Education, ALL RIGHTS RESERVED
On July 19, 2018, the U.S. Secretary of Education removed2 a ban on all class action
lawsuits concerning acts or omissions regarding the making of a Federal Direct Loan
or the provision of educational services for which the Federal Direct Loan was
obtained. Since 1993, the State of California has been the beneficiary of an
inadvertent false claims scheme through the manipulation of bond market exchanges
in the regulation of the federal student loan program. Nevada residents attending for-
profit colleges are paying significantly higher cohort default rates for the repayment
of specific Federal Family Education Loan (FFEL) Program or William D. Ford
Federal Direct Loan (Direct Loan) Program loans that are the result of false
statements and a breach of contract with the U.S. Department of Education.

Sincerely,

_________________________
Council for Education (CED)
Director, Council for Education

2
See, Student Assistance General Provisions, Federal Perkins Loan Program, Federal Family
Education Loan Program, William D. Ford Federal Direct Loan Program, and Teacher Education
Assistance for College and Higher Education Grant Program; Corrections, 83 FR 34047 (07/19/2018),
the URL link is available at https://www.federalregister.gov/d/2018-15260/p-31.
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(c) CED 2018| The Council for Education, ALL RIGHTS RESERVED