Student Loans

Student Loan IDRs Go Under the Microscope

Student loan servicers are being called out by a number of Senate Democrats for their “mismanagement” of income-driven repayment programs while a bill has been introduced in the House of Representatives that would change the terms under which a borrower’s payments are calculated based on his or her income, not …

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CFPB Fines Student Loan Servicer $1M For Lying About Forgiveness Options

The Consumer Financial Protection Bureau on Thursday announced an enforcement action against a student loan servicing company, fining it $1 million for allegedly making deceptive statements to borrowers and misrepresenting the forgiveness and repayment options related to the Public Service Loan Forgiveness program. The action, taken against Edfinancial, comes a …

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