Slow Going: CFPB Report Chronicles Student Loan Challenges
Yesterday, the CFPB released its annual report on student loan complaints and the picture it paints is anything but pretty, particularly for private student loan borrowers. The report notes that borrowers with federal loans issued by private lenders claim they run into roadblocks when they try to access income-driven repayment plans. In addition, more than 20% of these borrowers are not making payments or are past due (but not in default) and 95% are not enrolled in any kind of repayment plan. [10/15/15]
