Tell the CFPB about your student debt stress

Monday, June 15, 2015

After being bombarded with complaints from student borrowers, the Consumer Financial Protection Bureau (CFPB) has opened an investigation into the student loan servicing industry. Student loan servicers are the companies that send your billing statements.

If you (or someone you know) are struggling with student loans and have encountered problems with the loan servicers, please share your story with the CFPB. The Bureau is seeking feedback on servicer practices that make it more difficult to pay off your debt. Contact the CFPB if you’ve hit any of these roadblocks while trying to repay your student loans:

·      Surprise fees
·      Lost paperwork
·      Bad information or poor communication
·      Payment processing problems
·      Servicer transfer errors

The deadline to submit comments is July 13. Please do not include sensitive information like account numbers and social security numbers. Be aware that when you submit comments to federal agencies, your full name may appear online.

Click here to send your comments to the CFPB. For more information on the investigation, please visit the CFPB.