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Released: November 23, 2011
CFPB looking to educate students on private loans
Source: Michelle Singletary, Washington Post (Free Registration)
If you have a private student loan — and you are upset about what you’ve gotten yourself into — there’s a government agency that wants to hear your story. The Consumer Financial Protection Bureau, created specifically to look out for the interests of consumers, has undertaken several initiatives to simplify loan products that have tripped up consumers.
The new agency is creating a one-stop shopping sheet to help students better understand the type and amount of financial aid they qualify for so they know how much they’ll owe before choosing a college. The proposed sheet will detail the total loan amount borrowed, including the estimated monthly payment for federal and private loans.
Read Full Article: CFPB looking to educate students on private loans
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