Inquiry into student loan servicing practices
We hosted a field hearing in Milwaukee, Wisconsin with consumer experts, industry participants, college administrators, and borrowers to discuss challenges borrowers experience when trying to repay their student loans. Read Director Cordray’s remarks from the event.
We also launched an inquiry into student loan servicing practices asking the public for input on ways to decrease student debt stress for borrowers. Before July 13th, tell us about the roadblocks you’ve faced on the path to pay off your debt. Your stories will help us as we work with other policymakers to improve student loan servicing for borrowers. Participate in the conversation online at #studentdebtstress.
Annual report on student loan complaints
We released a report about serious problems faced by private student loan borrowers based on our analysis of private student loan complaints between October 1, 2013 and September 30, 2014. Read the report and our advice for consumers, including a sample letter and worksheet to request a reduced monthly payment to avoid default.
Read our 2014 mid-year report report highlighting issues related to co-signing a private student loan.
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.
We’ll forward your issue to the company, give you a tracking number, and keep you updated on the status of your complaint.
Student banking and credit cards
Banking on campus
Last year, we asked consumers, schools, and industry for their thoughts on financial products marketed on college campuses and hosted a forum. Read our initial findings and watch a video of the event. We also issued a consumer advisory to help students better understand their options when it comes to managing their scholarships and student loans.
On March 26, we presented to the Department of Education’s negotiated rulemaking committee. Here’s what we discussed.
College credit card agreement database
We collect information on agreements between universities and credit card issuers. Check out the database. We also released a report to Congress highlighting trends in credit cards on college campuses.
Student loan reports
On May 8th, we published a report discussing comments we received and outlining options policymakers and market participants should consider to help student borrowers manage their debt.
Based on complaints, comments, and other input, we explain how some borrowers face obstacles when repaying their private student loans.
Leveling the playing field
In partnership with the Department of Education, we’ve developed a financial aid shopping sheet to improve the way schools communicate financial aid offers. More than 1,500 colleges have agreed to use the shopping sheet.
What we heard – We released a prototype and received feedback from the public.
Military education accountability
We’re working with the Departments of Education, Defense, and Veterans Affairs to take steps to ensure that servicemembers, veterans and their families can get the information they need about the schools where they spend their education benefits.
We’re asking public service organizations to help tackle student debt by signing the pledge.
Read more about the CFPB’s work for students on our blog
Speeches, Op-eds, and testimony