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  • 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

  • Student Loan Repayment 101

    Whether you’re a new college graduate (congrats!) or someone who is already repaying student loans, it’s important to know all your options for managing your monthly payments.   For federally-backed student loans, you can take advantage of repayment plans that let you pay lower amounts each month to ease the stress of paying the loans. To Continue Reading

  • Wall Street’s Latest Wishlist For Congress Would Make Even the Pharmaceutical Industry Blush

    Do you know what stands between the American people and another financial crisis? Two things. The first is a little but scrappy federal agency that just happens to be the most important institution to emerge out of the crisis, the Consumer Financial Protection Bureau (CFPB). And the second is defeating the the Wall Street Wishlist. Continue Reading

  • Senate to Vote on Warren Student Loan Bill

    Millions of student loan borrowers are repaying loans with high interest rates – and that’s something that Senator Warren wants to change. Last month, Senator Warren introduced the Bank on Students Emergency Refinancing Act, which would let current borrowers refinance their loans down to the lower rates Congress passed in 2013 for new loans.  It’s Continue Reading

  • White House Takes Action to Ease Student Debt Burdens

    President Obama announced today that he will take executive action to expand access to affordable repayment plans.  Starting next year, an additional 5 million borrowers with federal student loans will be able to cap their loan payments at 10 percent of their monthly income, under the “Pay As You Earn” repayment plan. Up until now, Continue Reading

  • It’s Time to Hold Crummy Career Colleges Accountable

    This week, U.S. News published a great op-ed from our friends at Young Invincibles, a youth-oriented group that advocates for fairness in higher education. The op-ed, titled “Selling More Debt Than Degrees,” makes a lot of the same points we’ve made in our own posts about how important it is to protect students from career Continue Reading

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