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CFPB scholar Loan Ombudsman features FFELP loans in 4th yearly report

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CFPB scholar Loan Ombudsman features FFELP loans in 4th yearly report

The CFPB circulated its fourth Annual Report associated with the education loan Ombudsman speaking about complaints gotten because of the CFPB about private and federal student education loans plus the classes drawn because of the Ombudsman from those complaints. (The report had been granted by Seth Frotman, that is presently serving as Acting scholar Loan Ombudsman following the departure of Rohit Chopra this June that is past. The report will be based upon the CFPB scholar Loan Ombudsman’s analysis of around 6,400 private education loan associated complaints and 2,700 business collection agencies complaints associated with personal and federal figuratively speaking submitted to your CFPB from October 1, 2014 to September 30, 2015. (This continues to express a extremely low grievance price provided the scores of personal figuratively speaking outstanding. )

The education loan Ombudsman’s report comes from the heels associated with report on education loan servicing released by the CFPB at the conclusion of final thirty days which discussed commentary presented in response to an ask for Information Regarding scholar Loan Servicing posted by the CFPB in May 2015. Read More