More wiggle room for student-loan debt?
As more borrowers fall behind on their private student loans, a U.S. consumer watchdog is pushing to make those payments more affordable.
The Consumer Financial Protection Bureau last week said it’s seeking
proposals on ways to make debt repayments more manageable for borrowers
of private student loans — especially those who encounter financial
hardships. In a call with reporters on Thursday, Rohit Chopra, the
CFPB’s student-loan ombudsman, said private student-loan borrowers face
bigger challenges than those with federal loans because they typically
don’t have flexible repayment options, such as “income-based repayment,”
where borrowers make payments based on their income rather than the
amount they owe, and “extended repayment,” which lowers the monthly
payment by lengthening the loan’s duration.
Read more
The student loan financing system has survived up to now. Can this greed infested whorehouse of corruption last much longer?
No comments:
Post a Comment