Bureau Looks for More Flexible Repayment Options for Students
February 25, 2013
The CFPB recently put out a request for information seeking public input on ways to provide struggling private student loan borrowers with more flexible, more manageable repayment options. Federal student loans frequently provide for income-based repayment options for borrowers with partial financial hardship, as well as rehabilitation options for borrowers in default, according to the bureaus notice. However, In general, private student loans do not offer similar modified repayment options. In July, the director...