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Student Loan Borrowers May Lose Vital Protections If CFPB Is Abolished
If the CFPB is eliminated or diminished, student loan borrowers risk losing vital loan protections against servicer misconduct, debt relief errors, and predatory lending.
What Student Loan protections can you lose if the CFPB goes away?
The Consumer Financial Protection Bureau (CFPB) has played a vital role in protecting student loan borrowers from deceptive lending practices, unfair loan servicing, and fraud. E ...
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Student loan servicers are pulling incorrect payments from borrowers' bank accounts, consumer protection bureau says
Lenders often encourage federal student loan borrowers to enroll in automatic ... But a new report from the Consumer Financial Protection Bureau shows that the companies can pull incorrect amounts ...
Student loan repayment plan applications reopened by Education Department: What to know
The U.S. Education Department on Wednesday reopened online applications for income-driven repayment plans for student loan borrowers.
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Federal Judge Blocks Trump From Dismantling Consumer Financial Protection Bureau
It processes consumer complaints and examines banks to protect student loan borrowers. The National Treasury Employees Union, which represents more than 1,000 workers at the bureau, sued on Feb. 9 to ...
What will happen to student loans if the Department of Education is closed down?
Trump has begun the process of dismantling the Department of Education, which manages a $1.7 trillion student loan portfolio ...
With hundreds fewer workers, can the Federal Student Aid office still function?
After the Education Department slashed its workforce in half last week, current and former staffers are uncertain key ...
Student Loan Borrowers See Payments Soar After Trump's Changes
Some borrowers will see their monthly payments rise anywhere from $500 to $5,000 amid Education Department dismantling.
Department of Education shutdown: Will you still have to pay your student loan? What about FAFSA?
Right now, nothing is changing in terms of federal student aid programs. Students and families still can submit the FAFSA. Congressionally funded and authorized programs such as the Pell grants remain ...
Union sues Trump administration for halting student loan repayment plans
A major U.S. teachers union has filed a lawsuit against the Department of Education accusing Republican President Donald Trump's administration of unlawfully shutting down access to income-driven ...
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Do student loans affect a credit score?
How long do student loans stay on your credit report? "Loans closed in good standing will remain on your credit report for up to 10 years," said the credit bureau TransUnion. However, negative ...
What Student Loan Protections Can We Lose if the CFPB Goes Away?
The Consumer Financial Protection Bureau, or CFPB, is a federal agency that helps protect consumers from financial harm. For millions of student loan borrowers, the CFPB has curbed predatory lenders ...