Earlier this month, Secretary of Education Betsy DeVos declared that the Department of Education would no longer work with the federal Consumer Financial Protection Bureau to root out bad players in the student loan servicing arena. While the CFPB fired back, accusing DeVos of misunderstanding just what the Bureau does, a coalition of state attorneys general are now joining the choir, claiming the decision to end the agencies’ agreements undermine protections for student borrowers. [More]
Student Loan
Betsy DeVos Refuses To Work With Consumer Protection Agency On Student Loans
By 9.5.17
The Department of Education will no longer work with the federal Consumer Financial Protection Bureau to root out bad players in the student loan servicing arena. That’s according to Education Secretary Betsy DeVos, who recently notified the CFPB that her department is ending years of formal cooperation combating student loan fraud. [More]
Student Loan Borrowers Face Needless Hurdles When Trying To Reduce Payments
By 8.18.16
It’s a fact of life: if you take out thousands of dollars in federal student loans to attend college, you have to pay them back. While the government offers borrowers some relief through free income-based relief, a new report shows that getting that assistance is often a test of patience for consumers, with servicers providing incorrect information or creating difficult hurdles. [More]
