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Student Loans


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  • Deputy Treasury Secretary calls for better student loan servicing

    Student loan borrowers know all too well how tough it can be to get information or resolve issues with servicers that manage their loans after they leave school. Turns out, the Treasury Department is listening. In a speech given last week at the annual National Consumer Law Center conference, Deputy Treasury Secretary Sarah Bloom Raskin Continue Reading

  • CFPB Working for You: Student Loan Help for Volunteers

    Do you dream of serving your country as a Peace Corps volunteer, but are worried that you won’t be able to pay back your student loans? The Consumer Financial Protection Bureau (CFPB) is here to help. About a quarter of American workers are involved in public service. Many of them have joined the military, volunteered Continue Reading

  • CFPB Says Consumers with Private Student Loans Can’t Get a Break

    The sticker price for going to college just keeps getting bigger these days – sometimes, even exhausting your options for federal grants and student loans won’t cover it.  So some students have to turn to private loans – from banks, or big firms like Sallie Mae, to make up the difference.  But those loans are Continue Reading

  • It’s Time for Student Loan Servicers to Clean up Their Act

    Are you currently paying back your student loans?  If so, have you ever had problems dealing with the companies – called “servicers” – that process loan payments, provide customer service, and keep track of your paperwork? Well, whether or not they’re helping you, they’re still getting paid – by the federal government.  The Department of Continue Reading

  • Banks Fight Claims They Have “Secretive” Contracts with College Campuses

    Are you or someone you know preparing to go to college?  If so, you many find banks and other financial firms offering you student accounts for getting your financial aid or managing your money.   That’s because more and more colleges are entering into agreements with these firms to sell products to students on campus. The Continue Reading

  • Let the Consumer Financial Protection Bureau Continue To Do Its Job

    (Cross-posted from Consumer Reports Online in an article by Stephen Saltzman) On July 21, the Consumer Financial Protection Bureau will mark its fourth anniversary. The consumer financial watchdog, created by Congress in the wake of the financial crisis caused by shady mortgage lenders and Wall Street abuses, has done a lot for consumers in just Continue Reading

  • CFPB Consumer Stories: Repaying Student Debt

    It’s the Consumer Financial Protection Bureau (CFPB)’s birthday this week – and they sure have been busy lately! As part of its mission to educate consumers about their rights, the CFPB has created some impressive and easy-to-use resources for consumers on a lot of money topics. When it comes to student loans, all too many Continue Reading

  • Watch-out for Student Loan “Help” That Does More Harm Than Good

    Illinois’ AG goes after companies trying to spring the debt settlement trap on student loan borrowers Student loan debt settlement companies’ advertisements say things like, “Your entire student loan can be forgiven” and “Stop wage garnishment.” But according to lawsuits filed today by the Illinois Attorney General, two companies making those claims aren’t helping consumers. Continue Reading

  • Senate Dems Press Dept. of Ed. on Student Loan Servicers

    It’s no longer news that consumers with student loans are paying high interest rates and struggling to keep up with the financial burdens of going to college in today’s America.  But loan servicers – the companies that process payments and administer loans once borrowers are repaying them – are coming under increasing scrutiny for failing Continue Reading

  • Scam Alert!: For-Profit School Closing, STILL Recruiting Students

    Looks like it’s finally curtains for Corinthian Colleges – the for-profit company behind career colleges like Heald, Everest and WyoTech.  Late last week, the company announced in SEC filings that it was planning to close or sell all of its campuses after the Department of Education decided to slow Corinthian’s access to federal money. The Continue Reading

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