more issues for private student loans

CFPB Report Finds 90% Of Student Loan Borrowers Who Seek Co-Signer Release Are Denied

CFPB Report Finds 90% Of Student Loan Borrowers Who Seek Co-Signer Release Are Denied

Last year, the Consumer Financial Protection Bureau brought our attention to a relatively new phenomenon in which more and more private student loan borrowers found themselves placed in automatic default – even if they were up-to-date on payments – when their co-signer died or filed for bankruptcy. While the agency and consumer advocates urged these borrowers to seek co-signer release from their lenders, a new report finds that’s simply hasn’t been possible. [More]