Links in “Student Loans”
- What Restrictions Ed. Dept. is Proposing for Student Financial Productions
Prohibitions against requiring students to open an account or access devices offered by a specific bank and against overdraft or point-of-sale fee arrangements between colleges and third-party providers are among the restrictions proposed by the U.S. Department of Education. [5/21/15]
- Share Your Experience with Student Loans!
The CFPB, U.S. Department of Education, and U.S. Department of the Treasury are working together to identify ways that student loans services can be strengthened. These agencies want your input and experiences to help them prioritize resources to assist financial service providers develop best practices. [5/21/15]
- Tougher Standards and Increased Transparency for Student Aid Recipients
The U.S. Department of Education proposed regulation designed to provide tougher standards and increased transparency surrounding students receiving federal student aid, specifically on prepaid cards. The proposal would amend several regulations to. [5/18/15
- Student Debt Stresses
More than 40 million Americans have student debt, with an average of $30,000 per person. This debt proves harder to payback than consumers expect. Cue the CFPB, which is stepping in to see what it can do. [5/18/15]
- Flaws in CFPB’s Approach to Student Lending
The CFPB's actions of late toward student lending suggest that all student borrower complaints are valid, that student loan borrowers who aren't making payments are automatically entitled to relief, and that problems in the economy making it hard for student loan borrowers to be fully employed should be resolved by loan holders. [5/15/15]
- Student Lending in the CFPB’s Crosshairs
Student lending bears "an uncanny resemblance to the situation where struggling homeowners reached out to their mortgage servicers before, during, and after the financial crisis," according to CFPB Director Cordray, who launched today a review of the $1.2 trillion student debt market. [5/14/15]
- The CFPB Wants to Collect Your Student Debt Story
The CFPB launched a new public inquiry on the experiences of people in getting student loans and paying them back. What about student loans stresses you out? [5/14/15]
- Americans Unhappy with How They Financed College
A recent article from the Journal of Accountancy states that "68% of Americans are unhappy with the way they financed college." Many of the college grads surveyed would have financed college in a different manner if possible, and some even question if college was worth it. The time to prepare and save for college is right now. [5/6/15]
- Cordray Signals Continued Emphasis on Student Loans
In a speech to college presidents, CFPB Director Cordray indicated that the bureau's focus on student loan issues isn't going away anytime soon. 8 million Americans are now in default on their students loans. Cordray sees strengthening servicing as the key to getting the growing problem of defaults under control. [4/23/15]
- Borrowing, Fueled by Cars and Tuition, Hits Record High
With consumer borrowing reaching a record high in February, expect scrutiny to grow, especially for the two categories that fueled the growth the most: auto loans and student loans. [4/8/15]
