student debt

Consumer Protection Agency Probing Student Loan Services; Researchers Analyze Borrowing At For-Profit Colleges (Progress Illinois)

Public feedback is being sought by CFPB on "industry practices that create repayment challenges, hurdles for distressed borrowers and the economic incentives that may affect the quality of service." The public comment period opened May 14 and will run through July 13.

CFPB's probe into the matter is part of a collaboration with the U.S. education and treasury departments to "identify initiatives to strengthen student loan servicing."

Consumer advocacy groups are encouraged by CFPB's broad review into industry practices.

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