Inability to Modify Repayment Terms Chief Student Loan Gripe
August 12, 2013
Borrowers in the near-$1.2 trillion student loan market had a number of concerns about processing of payments, obtaining documentation about their loans, finding accurate information about their loan status and repayment options, and accessing basic account information, according to an updated mid‐year snapshot of private student loan complaints from the CFPB. Last October, the CFPB Student Loan Ombudsmans first annual report identified servicing issues that were cited by private student loan borrowers in their complaints...