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What can students do to protect themselves?


This post is part of a series for National Consumer Protection Week

Americans owe more than a trillion dollars in student loan debt. That’s more than we owe on credit cards, more than we owe on car loans – and it’s still growing.

So, if you’re going to invest in a college degree, we want you to be able to choose the best deal for your situation. Students are overwhelmed with options and aren’t sure how to compare them. In the absence of apples-to-apples comparisons, they’re left to their own devices when making a choice that will have significant consequences for their financial future.

Here is the suite of tools we’ve developed to help you along the way:

Paying for College
From start to finish, we can help you make informed financial decisions about paying for college.

Repay student debt
While we can’t give you advice for your exact situation, we can point you in the right direction.

Choose a loan
Three steps that can help you get the right loan for you.

Submit a complaint about a student loan or a bank account or service
We’ll forward your issue to the company, give you a tracking number, and keep you updated on the status of your complaint. Even if you have federal loans, we can help make sure you get to the right place to submit a complaint.

Managing your college money
Choosing your first bank account is an important decision. Unlike that first school ID photo, your first banking relationship could last long after you graduate. Making a smart decision now will mean fewer surprise fees that can add up later.

Compare financial aid and college cost
We’re building a tool that will let you compare financial aid offers so you can see how all those numbers impact your payments down the road.

  • brass Media Inc.

    This is a really helpful and comprehensive resource. Thank you!

    • CFPB Web Team

      Sure! Glad it was helpful.

  • John

    Is there anyway this information can be mandatory for 17&18 year olds to go through, as like a video course in high school? Could there also be a mandatory pricing and value disclosure for each school showing the expected costs, payroll after graduation for the degree at the school compared to the industry, and base it off of expected aid at their GPA. There is too much at stake in these kids lives, with everyone pushing them to get a higher education and prices inflating every year yet jobs and starting payrolls for graduates at a inflation-adjusted 10 year low (maybe slightly better now, but not much). I have been fortunate, but I can’t imagine the stress and pressure that is on these kids.

  • ALPHA456

    I am impressed already by the CFPB! I just recently found out about the CFPB while researching other Govt. Agencies. I was unaware of the CFPB until then. I came back today to look into what the CFPB is all about and I was greeted by the request for info on the initiative to promote student loan affordability posted the request on FB and Twitter and when I came back to site by another link and it the opened to this page EXCELLENT DATA STREAMLINED HERE in my opinion for students. This info will help many of it to those that may not be aware of it. Knowledge is the best power anyone can have. Great job CFPB! This was sorely needed for students/families. Regards, B.

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