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Wednesday, October 16, 2013

CFPB Student Loan Ombudsman’s Annual Report

The CFPB Student Loan Ombudsman released a report today analyzing complaints the CFPB has received from private student loan borrowers. According to the report, private student loan borrowers face payment processing pitfalls that can lead to increased costs, prolonged repayments, and harm to their credit profiles. The CFPB is also issuing a consumer advisory to help certain borrowers communicate their payment preferences to servicers, so they can take better control of their student loans.

Read more.



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