A restructure of the Consumer Financial Protection Bureau (CFPB) has ended all functions of its student lending office, except for consumer education. According to American Banker, Mick Mulvaney, the CFPB’s acting director, announced the changes in an email to staff. As part of the restructuring, Seth...
The CFPB laid down some serious fines on National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, Inc. The firms were collectively ordered to pay $26.1 million for attempting to collect on loans that were at best out of date and at worst...
For value, the Federal Reserve estimates that a college grad will make about $830,000 over the course of a lifetime; the Georgetown University Center for Education and the Workforce estimates the value at around a cool million. A big payout to be sure, but one...
In the world of student loans, the opportunity and lure of refinancing may be a siren call, both for students and the lenders. And as Re/Code noted Wednesday (Sept. 30), a recent entrant into a crowded field, Credible, has gotten, well, some (Wall) Street cred. The...
July 25, 2017
For value, the Federal Reserve estimates that a college grad will make about $830,000 over the course of a lifetime; the Georgetown University Center for Education and the Workforce estimates the value at around a cool million. A big payout to be sure, but one that requires a significant upfront investment of time and treasure. […]
June 26, 2019
Months after he called out “irrational” student lending that has been impacting the economy through his annual letter, JPMorgan Chase CEO Jamie Dimon noted that U.S. student lending is “hurting America.” Dimon also noted that the government has “irresponsibly” lent over $1 trillion as of 2010 and that they want to forgive it now, Yahoo […]
May 10, 2018
A restructure of the Consumer Financial Protection Bureau (CFPB) has ended all functions of its student lending office, except for consumer education. According to American Banker, Mick Mulvaney, the CFPB’s acting...
October 01, 2015
In the world of student loans, the opportunity and lure of refinancing may be a siren call, both for students and the lenders. And as Re/Code noted Wednesday (Sept. 30), a...
