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Category: Info for consumers | Category: Policy and compliance |
Published

Busting myths about bankruptcy and private student loans

It is a myth that student loans are not dischargeable in bankruptcy. Some private student loans require a showing of “undue hardship” and an adversary proceeding within the bankruptcy in order for the loans to be discharged, while other types of student loans are treated the same as other unsecured consumer debt.

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.