CFPB scholar Loan Ombudsman features FFELP loans in 4th report that is annual

The CFPB circulated its fourth Annual Report associated with education loan Ombudsman talking about complaints gotten because of the CFPB about personal and student that is federal additionally the classes drawn by the Ombudsman from those complaints. (The report had been given 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 scholar Loan Ombudsman’s analysis of around 6,400 personal education loan associated complaints and 2,700 commercial collection agency complaints linked to personal and federal student education loans 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 scores of personal figuratively speaking outstanding. )

The education loan Ombudsman’s report comes in the heels for the report on education loan servicing granted by the CFPB at the conclusion of last thirty days which discussed remarks submitted in response to a ask for Information Regarding scholar Loan Servicing posted by the CFPB in might 2015. That report had been followed by a Joint Statement of Principles on scholar Loan Servicing issued by the CFPB, U.S. Department for the Treasury, and also the U.S. Read more