Along with the U.S. Department of Education, today we announced more than $480 million in forgiveness for borrowers who took out Corinthian College’s high-cost private student loans. Check out our special bulletin for current and former students enrolled at Corinthian-owned schools for more information.
Thousands of borrowers have told us their stories on how they manage tough times with their student loans. Some students ended up borrowing much more than they expected in order to complete their degree, often because a parent lost a job in the midst of the financial crisis. Others had a tough time finding a […]
Each year, nearly 5 million college students leave school with student debt. For most of them who graduated this past spring, their six-month “grace period” just ended and those first bills have just have arrived. For all of you faced with student loan payments and crafting New Year’s resolutions to conquer your debt, we’ve put […]
Today we took action to put an end to two student loan debt relief scams that illegally tricked borrowers into paying upfront fees for federal loan benefits. In a joint filing with Florida’s Attorney General, we shut down student loan debt relief company College Education Services and, separately, we filed a lawsuit against Student Loan […]
Our new report summarizes complaints from private student loan borrowers about difficulties faced when working with a lender or servicer to avoid default. We also have steps you can take to get valuable information on repayment options to reduce your monthly payment or to temporarily postpone making payments. Learn more about the report and steps you can take.
Last year, the CFPB launched an initiative to enlist the support of public service employers to help their employees tackle their student debt. We also published a report, which estimated that approximately one-fourth of the labor force is working in a public service profession and potentially eligible for existing benefits to help them manage their […]