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Category: Info for consumers |
Published

Did you get a notice that your student loans are transferring to a new servicer? Learn more about what this means for you

Many federal student loan borrowers will have their loans transferred to a new servicer. If your loans are currently being serviced by FedLoan Servicing or Granite State, this article can help you prepare for the transition to a new servicer.

Category: Info for consumers |
Published

Higher education emergency grants available for college students impacted by the COVID-19 pandemic

If you were a college student enrolled in an eligible college or university on or after March 13, 2020, you may qualify for emergency financial aid grants that can be used to cover expenses or costs from food, housing, course materials, technology needs, health care, child-care expenses, or money owed to your school.

Category: Data, research, and reports |
Published

Trends in Reported Assistance on Consumers’ Credit Records

This post is the second in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. Since July 2020, consumers have transitioned out of assistance to varying degrees across all credit products, but a significant share of mortgage borrowers continue to receive assistance.

Category: Data, research, and reports |
Published

Delinquencies on credit accounts continue to be low despite the pandemic

New Bureau research examines consumer credit trends through April 2021, finding little increase in delinquencies on credit cards, auto loans, mortgages, and student loans during COVID-19. Delinquency rates also remain lower than pre-pandemic levels, likely as a result of public and private interventions.

Category: Info for consumers |
Published

Federal tools to help maximize GI Bill® education benefits

GI Bill education benefits are not unlimited, so make sure you have a plan to use them wisely. The Department of Veterans Affairs’ GI Bill Comparison Tool, the Department of Education’s College Scorecard website, and the CFPB’s Your Financial Path to Graduation Tool can help.

Category: Info for consumers |
Published

¿Es usted el coprestatario de un préstamo estudiantil privado? Le tenemos consejos para que se proteja durante la pandemia del COVID-19

Si es el coprestatario de un préstamo estudiantil privado usted es responsable por cualquier pago omitido. Si usted o el prestatario principal han visto sus finanzas impactadas por el coronavirus, le mostramos pasos para protegerlas, y cuidar crédito durante la pandemia.

Category: Data, research, and reports |
Published

New report shows how student loan borrowers fare on Income-Driven Repayment Plans

This Data Point uses the Bureau’s Consumer Credit Panel to identify likely users of income-driven repayment and provides descriptive statistics of who these borrowers are and how delinquencies on student loans and other products change after borrowers enroll in these alternative repayment programs.

Category: Info for consumers |
Published

Three steps to prep for paying for college

Over the next few months, parents and students will be exploring options to help pay for college. For many people, how to pay for a college education is one of the first major financial decisions they’ll make.  There are many different ways to pay for college. Understanding your choices can help you make the right decision for your situation.

Category: Info for consumers |
Published

Check your mailbox: Veterans with severe disabilities and student loans should keep an eye out for this

The Department of Education is sending letters to veterans with severe disabilities notifying them that they may be eligible for a tax-free discharge of their outstanding student loans. Here’s what to look for if you’re eligible.