Student loan servicing
This report reviews and discusses public comments submitted in response to a Request for Information Regarding Student Loan Servicing published in the Federal Register in May 2015 (Docket ID: CFPB-2015-0021). The notice details a series of topics and questions to elicit feedback from the public, including:
- How existing student loan servicing industry practices affect repayment;
- Whether protections in place in other markets for consumer financial products and services should be instructive to policymakers and market participants seeking to improve the delivery of service, including:
- Protections in place for homeowners repaying mortgages,
- Protections in place for homeowners facing foreclosure or experiencing financial distress,
- Protections in place for consumers with credit cards; and
- How the availability of data on student loan origination and performance influences policymakers, market participants, and members of the public seeking to strengthen student loan servicing.