Student borrowers are being 'preyed upon' by loan servicers, but lawmakers want to change that. (via CNBCMakeIt)
, strengthen credit reporting standards, block debt collectors from unfairly going after student borrowers, protect private student loan borrowers and help borrowers with student debt purchase their first home.
"Student loan borrowers deserve and need the same protections that all consumers are entitled to in this country," Ashley Harrington, senior policy counsel for the"The solution to the student debt crisis is both working on front-end and back-end affordability," Harrington says. And that affordability on the back end includes strong servicing protections and quality servicing for all borrowers, she added.
"We've put up a paywall to the middle class, and if there's one thing that Americans don't deserve it's more paywalls," he says. Those issues, however, likely fall under the purview of the Education and Labor Committee and the Education Department, Waters said Tuesday. But she noted that she believes the House Financial Services Committee can take a stand on student loan servicing.
"The rapidly increasing growth of student debt is indeed a national crisis and it is not something we should be playing politics with at all," Rep. Gregory Meeks said during Tuesday's hearing.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
A student loan fintech just closed a $300-million securitizationUS-based College Ave Student Loans completes $300 million securitization of private student loans – its third and biggest securitization yet.
Consulte Mais informação »
How to make your first student loan payment after graduating from collegeHere's how to make your first student loan payment, and where to find the information you need on your federal student loans to start repaying them.
Consulte Mais informação »
If you've ever considered refinancing your student loan, now is probably the right time to do itAccording to loan-comparison site Credible, interest rates for student loan refinancing have hit a 12-month low, making now a good time to refinance.
Consulte Mais informação »
High interest rate loans could soon be capped in California under plan approved by lawmakersCalifornia lawmakers voted to rein in predatory lenders on Friday, sending Gov. Gavin Newsom a bill to cap interest rates on loans of $2,500 to $9,999 for the first time in more than three decades.
Consulte Mais informação »
Explaining the student debt crisis and what Dem candidates propose doing about itFrom tuition-free college to canceling all student loans at once, 2020 contenders have a variety of ideas.
Consulte Mais informação »
Trump Visibly Distressed by Media Describing Bolton as “Tougher” Than HimTrump is apparently growing frustrated with the media coverage surrounding John Bolton’s ouster, which has generally described the president as less warlike than his warmongering former adviser
Consulte Mais informação »