According to a new CFPB report, at-risk student loan borrowers are struggling with repayment, even with options to help them available.
Millions of young adults will get their first job this summer. This is a great time to develop healthy financial habits than can help them use their money in ways that are important to them and help them plan for their futures.
Estudiantes de ITT Tech: Conozcan más acerca de sus opciones y qué hacer con sus préstamos estudiantiles cuando la escuela cierre.
ITT Students: Learn more about your options and what to do with your student loans when your school shuts down.
Last month, we published a report based on your stories and issued a call for industrywide reforms to protect consumers. Building on this work, today, we released our annual report on student loan complaints, taking a closer look at the problems experienced by certain student loan borrowers.
On campus, a bank account may be marketed to you that is co-branded with your college’s logo and may be attached to your campus ID through a debit card. But remember, just because an account has been sponsored by your college, it doesn’t always mean that it’s a good deal for you.
For borrowers who are experiencing financial distress and looking for a way to pay back their federal student loans, income-driven repayment plans can be the key to helping you make ends meet. But for some borrowers seeking to tie their federal loan payment to their income, we know the road can be rocky. You’ve told us about problems related to enrolling in income-driven repayment plans that ended up costing you hundreds of dollars in unexpected payments.
Some borrowers have already shared with us their experiences with their student loan servicer (the company that sends a bill each month). We’ve released the first batch of your stories and we encourage you to take a look at what we’re hearing from the public at regulations.gov.
We now want to hear from you. If you’ve had problems with student loan debt or run into repayment roadblocks, share your story.
Today, we held a field hearing on student debt in Milwaukee. The hearing featured remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public. The live event has now ended, but we’ll have a recording available here soon.