Last week, we published a report on student loan affordability, which discussed the low levels of activity in the student loan refinance market. Since that time, we’ve received a lot of questions from consumers about what to consider if they find a refinance option. We’ve uploaded these questions to Ask CFPB. Take a look. Should [...]
Crossposted from Politico.com. This opinion editorial originally ran on May 9, 2013 under the title “Excessive student loan debt drains economic engine.” On May 8th, we released a report discussing comments we received in response to a request for information and outlining options policymakers and market participants should consider to help student borrowers manage their [...]
A few weeks ago, we announced that we’re gathering information to identify policy options for borrowers to find affordable options on their private student loans. In that short period of time, we’ve received over 20,000 responses from individuals and organizations telling us what could be done. We’ve already posted many of the responses online – [...]
Today, we announced that we’re gathering information to come up with a plan to address the challenges many struggling borrowers face to find a more affordable payment plan on their private student loans. We need your ideas and help to stem the tide of trouble for many student loan borrowers. Student loans are a critical [...]
Crossposted from the Philly Inquirer Financial institutions expect borrowers to hold up their end of the bargain when it comes to mortgages and student loans. Shouldn’t we expect the same of them? Before this year’s mortgage settlement between regulators and large banks, there were reports of mismanagement by mortgage servicers caused great harm. Improper foreclosures [...]
Remarks of Rohit Chopra Student Loan Ombudsman Consumer Financial Protection Bureau Congressional Forum on Student Loans August 27, 2012 Chicago, IL Congressman Quigley, thank you for hosting today’s forum on student loans. This is not only an important issue for families here in Illinois, but for all of us across the country. To prosper in [...]
