The Consumer Financial Protection Bureau (CFPB) is a new federal government agency with a mission to provide better oversight and stronger regulation of the financial industry. CFPB has put out a call for personal stories aboutprivate student loans. As you may know, private student loans are exceptionally risky and problematic for millions of student loan borrowers: they often have higher interest rates, little flexibility, and can’t be discharged in bankruptcy, meaning student borrowers could be stuck with them forever.
We’ve got less than 60 days to tell CFPB about all the problems associated with private student loans. If you have a personal story that you’d like to share, please visit CFPB’s private student loan portal and tell them your story. Let’s fill their inbox and hopefully, we can make some real change.