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CFPB Seeks Input on Student Loan Repayment

Posted on 2/22/2013

The Consumer Financial Protection Bureau (CFPB) yesterday asked for public input on ways to help borrowers repay private student loans, with the goal of "avoid[ing] a repeat of the mortgage meltdown for today's student loan borrowers," CFPB Director Richard Cordray said.

The Bureau's notice asks for comments on several issues, including how student loan debt may affect the economy and hinder access to mortgage and car loans, how distressed borrowers manage their student loan obligations, current lower monthly payment options for student loan borrowers, and successful alternative payment options in other markets that could be applied to student loans.

The comment deadline is April 8.

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