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Friday, August 2, 2013

CFPB Releases Report on Private Student Loan Complaints

The CFPB has released an update analyzing complaints from private student loan borrows. The CFPB reported borrowers had a number of concerns about processing of payments, obtaining documentation about their loans, finding accurate information about their loan status and repayment options, and accessing basic account information.

The CFPB has projected that outstanding student debt is approaching $1.2 trillion, including approximately $165 billion in outstanding private student loan debt.

Read the full report.

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