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New Student Loan Complaint System at the Consumer Financial Protection Bureau

July 17, 2012 | Adam S. Minsky, Esq. Policy & Reform

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The Consumer Financial Protection Bureau (CFPB) is a federal new agency designed to look after the interests of consumers in all walks of life. CFPB has a strong student loan focus, and they recently announced that they will be taking complaints from consumers about private student loans. This is fantastic news. While there are several programs to help borrowers manage federal student loan problems, private student loans are uniquely problematicand there aren’t any real institutional structures in place to assist borrowers with private student loan issues. CFPB will investigate your problem and will try to work with your private lender to reach a solution.

While the new complaint system is unlikely to result in any immediate change to the private student loan sphere, CFPB will act as a central clearinghouse for private student loan issues and will hopefully play a major future role in regulating private student loans in the future.

To read about this new project, click here. To share your private student loan horror story with CFPB, click here. To submit a complaint to CFPB, click here.

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Policy & Reform

About Adam S. Minsky, Esq.

Adam S. Minsky founded the first law office in Massachusetts devoted entirely to assisting student loan borrowers, and he is one of the only attorneys in the country practicing in this area of law. He provides counsel, legal assistance, and direct advocacy for borrowers on a variety of student loan-related matters. He regularly speaks to students, graduates, and advocates about the latest developments in higher education financing.

Books by Adam S. Minsky

The Student Loan Handbook for Law Students and Attorneys

The Student Loan Handbook for Law Students and Attorneys

Student Loan Debt 101

Student Loan Debt 101: The Definitive Guide to Understanding and Managing Your Student Loans

Student Loans for Parents and Cosigners

The Student Loan Guide for Parents and Cosigners

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asminsky@minsky-law.com
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Boston, MA 02110

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