Private Student Loans Boom & Bust: Consumer Financial Protection Bureau Report
I have a generally low opinion of private loans, as they are typically risky and expensive for borrowers. Unfortunately, higher education is so expensive that many of us cannot cover the costs of our dream school while still avoiding private student loans. The Consumer Financial Protection Bureau (CFPB) today released the most comprehensive study of private student loans we’ve seen, including a large set of quantitative and qualitative data. The study was informed by data provided by lenders in the marketplace, existing…
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…
The Secret Private Student Lenders, Servicers, and Debt Collectors Aren’t Telling Us
The Consumer Financial Protection Bureau is now available to assist student loan borrowers dealing private student loan companies, servicers, and debt collectors. Ask a question of lodge a complaint at www.consumerfinance.gov/complaint or call 1-855-411-CFPB. I'm guessing their phone will be ringing off the hook.
Heather Disses Private Student Loans All Official Like
Usually I try to use my goofiest Mr. Mackey voice when I'm dissing on private student loans, but when the Consumer Financial Protection Bureau invited comment to inform their private student loan policy agenda, I decided it was time to get serious. Here's the text of what I submitted. All the comments will ultimately be posted on regulations.gov Comment in Response to Request for Information Regarding Private Education Loans and Private Educational Lenders Regarding Docket No.: CFPB-2011-0037 Thank you for requesting input regarding…
