CFPB Student Loan Ombudsman features FFELP loans in 4th yearly report

CFPB Student Loan Ombudsman features FFELP loans in 4th yearly report

The CFPB circulated its fourth Annual Report for the education loan Ombudsman talking about complaints gotten by the CFPB about personal and student that is federal as well as the classes drawn because of the Ombudsman from those complaints. (The report had been granted by Seth Frotman, that is presently serving as Acting scholar Loan Ombudsman following the departure of Rohit Chopra this previous June. ) The report is dependant on the CFPB Student Loan Ombudsman’s analysis of around 6,400 personal education loan associated complaints and 2,700 business collection agencies complaints associated with personal and federal figuratively speaking submitted to your CFPB from October 1, 2014 to September 30, 2015. (This will continue to express a complaint that is exceedingly low because of the an incredible number of personal student education loans outstanding. )

The education loan Ombudsman’s report comes regarding the heels for the report on education loan servicing granted by the CFPB at the conclusion of final thirty days which discussed reviews presented in response to a ask for Information Regarding scholar Loan Servicing posted by the CFPB in might 2015. That report had been followed closely by a Joint Statement of Principles on scholar Loan Servicing issued by the CFPB, U.S. Department of this Treasury, in addition to U.S. Continue reading “CFPB Student Loan Ombudsman features FFELP loans in 4th yearly report”