CFPB Warns Of Student Loan Data Errors
Student loan debt is something many graduates find themselves saddled with for years, or even decades, after graduation. Unfortunately, this means they have to endure the occasional tango with student loan servicers, whether to determine monthly payment amounts, repayment plans or to address other questions and concerns that might arise over the life of a loan. The last thing on the minds of graduates and students alike is whether or not their student loan servicer is being honest with them and not trying to take advantage of them. Unfortunately, it seems some student loan servicers haven’t been playing nice lately, which prompted the Consumer Financial Protection Bureau to issue a warning on Monday to consumers to “pay close attention to their personal information on record with student loan servicers as errors are popping up that can cost borrowers dearly.”