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Home » Military Still Face Roadblocks From Student Loan Servicers, CFPB Says
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Military Still Face Roadblocks From Student Loan Servicers, CFPB Says

July 13, 2015
U.S. military personnel are still having to deal with problems and challenges when they contact student loan servicers to invoke the military rights and protections earned through their service, according to a recently released report from the CFPB. Among the problems cited in the report are continued mistakes handling service members’ student loan repayments, resulting in improper denials of legal benefits, negative credit reporting, and shoddy follow-through on legal protections for military families. Complaints also include frustrations from grieving parents seeking to discharge a co-signed loan following the death of their child. Specifically, the report found that service members continue to report difficulties in obtaining the Servicemembers Civil Relief Act interest rate cap of 6 percent, despite action by federal ...
News Inside the CFPB Enforcement Regulation Non-Mortgage Regulation Student Loans
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