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March 14, 2012

An Easier Way to Get Your Private Student Loan Problem Fixed

I love reading the New York Times and this morning I was treated to an Editorial reflecting the Time's opinion that the Consumer Financial Protection Bureau is right to take on the private student loan industry.   True dat!   Private loans are risky and expensive and lack the flexible repayment provisions and borrower protections that come with federal student loans.  

If you have a problem with a private student loan, you now have somewhere to turn for help.  The Consumer Financial Protection Bureau's complaint system is open for business!  Borrowers working to resolve billing or collections errors with private student lenders can now go directly to the Consumer Financial Protection Bureau to lodge a complaint.  The banks and lenders responsible will have 60 days to resolve the complaint.

Read more about why I'm not a big fan of private student loans:  
Friends don't let friends borrow private student loans
The Secret to Safer Student Loan Borrowing


By Heather | Category: Private student loans  
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