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.

Recently from the Blog

NEC Endorses Bill To Expand Access to Telehealth Services Amid Pandemic

06/18/2021 | Read Post

UMass Hosting Zoom Summits on Diversity in STEM

06/17/2021 | Read Post

In the News

NEC Board Elects Three New Directors

04/27/2021 | Read Press Release

NEC Endorses Cannabis Banking Legislation

04/1/2021 | Read Press Release