Gaps in Student Loan Rehab Programs Trap Vulnerable Borrowers in Default, May Cost Consumers $125 Million in Unnecessary Interest Charges Alone
WASHINGTON, D.C. —(ENEWSPF)–October 17, 2016. Today the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman released a report projecting that over the next two years, one-in-three rehabilitated student loan borrowers could be driven back into default due to gaps between student loan programs. The report examines debt collection and servicing problems plaguing the federal…
