CFPB Releases Report on Student Loans

On Tuesday, October, 16,  The Consumer Financial Protection Bureau (CFPB) released the first Annual Report of the CFPB Student Loan Ombudsman. The report focuses on borrowers of private student loans and details many of the challenges they face in repayment. The report compares the student loan market to the mortgage market and highlights similar cases of abuse. According to the report, some borrowers found it difficult to get in touch with lenders in times of crisis, or found that banks were slow to correct errors or apply payments. The report also makes recommendations for Senate and House Committees.

Read more about this report in Inside Higher Ed.

img_side
mask_sidebar
Recently from the Blog

CMBG3 to Host Webinar on California Prop 65 Changes

03/3/2021 | Read Post

Dean College President Rooney Honored by Indiana Univeristy

02/22/2021 | Read Post

In the News

NEC Elects Six Respected Regional Business Leaders to Board of Directors

09/28/2020 | Read Press Release

NEC Announces 2020 New Englanders of the Year

08/25/2020 | Read Press Release