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Students and young Americans

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.

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Repay student debt

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

Know your options

Submit a student loan complaint

We’ll forward your issue to the company, give you a tracking number, and keep you updated on the status of your complaint.

Submit now

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.

Safe Student Account Scorecard

We asked for feedback on a Safe Student Account Scorecard to help colleges and universities make sure the deals they make with financial institutions lead to safe and affordable products. Take a look at the Request for Information.

Student loan reports

Student loan affordability

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.

Read what we heard and see the comments we received.

Annual report of the CFPB student loan ombudsman 2013

Based on complaints, comments, and other input, we explain how some borrowers face obstacles when repaying their private student loans.

Check out last year’s report and a snapshot of complaints from earlier this year.

Private student loans

With the Secretary of Education, we submitted a report to Congress. Thousands of consumers gave us their comments.

Leveling the playing field

Know Before You Owe

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.

Does your college help you know before you owe?

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.

Student loan servicing and the military – Servicemembers face unique challenges when paying back student debt.

Public service and student debt

We’re asking public service organizations to help tackle student debt by signing the pledge.

Check out our report, toolkit for employers and our guide for borrowers.

Read more about the CFPB’s work for students on our blog

Speeches, Op-eds, and testimony

Written Testimony before the Senate Budget Committee – Rohit Chopra, 6/4/2014

Remarks before the Federal Reserve Bank of St Louis – Rohit Chopra, 11/18/2013

Remarks at the CFPB Banking on Campus Forum – Richard Cordray, 9/30/2013

Student debt swells, federal loans now top a trillion – Rohit Chopra, 7/13/2013

Testimony before the Senate Committee on Banking, Housing, and Urban Affairs – Rohit Chopra, 6/25/2013

Student debt domino effect? – Rohit Chopra, 5/09/2013

Prepared remarks for a press call on proposed rule on student loan servicers – Richard Cordray, 3/14/2013

Debt déjà vu for students – Rohit Chopra, 10/25/2012

Congressional Forum on Student Loans in Chicago, IL – Rohit Chopra, 8/27/2012

Written testimony at a Senate hearing on private student loans – Rohit Chopra, 7/24/2012

Prepared Remarks for a Press Call about the “Financial Aid Shopping Sheet” – Richard Cordray, 7/23/2012

Prepared Remarks for the Private Student Loan Report Press Call – Richard Cordray, 7/19/2012

Too Big to Fail: Student debt hits a trillion – Rohit Chopra, 3/21/2012