Student Lending

CBA is the public policy voice for private-market capital to fund loans supporting America’s students. Private student loans serve important purposes, primarily to provide gap funding for undergraduates who need to pay for college. In addition, for some families and graduate students, private loans can be a sensible alternative to federal loans, especially PLUS loans. Almost 97% of private student loans are being successfully repaid. That is largely due to the high level of underwriting required to receive a private loan, as well as the use of cosigners. Nearly 70% of private student loans are made by six lenders, five of which are CBA Members.  Collectively, private loans account for just 8% of loans being made today. The other 92% are Direct Loans made by the U.S. Department of Education. 

  • May 11, 2018
    DRIVING THE CONVERSATION Rumor Mill Churns: McWatters as Bureau Director? – There is plenty of buzz in D.C. surrounding President Trump’s potential nomination of National Credit Union Administration Board Chair Mark McWatters as the next Director of the Bureau of Consumer Financial Protection (Bureau). We have had conversations with McWatters, as well as many other potential candidates for the...
  • May 4, 2018
    Private lenders hold just a fraction of the outstanding student loan debt in the U.S. -- about 7.7 percent as of last year. But those companies have plans to grow their student loan holdings. And they argue that with the help of Congress, they could play an even bigger role in the student loan marketplace -- as they formerly did. Purposefully expanding private lenders' piece of the student loan...
  • April 27, 2018
    REGULATORY ROUNDUP Mulvaney Plans to Drop Public Complaints Portal – CBA has long advocated for unverified contents of the complaint portal to no longer be made public and this week the Bureau of Consumer Financial Protection’s Acting Director Mick Mulvaney acted on this request. While we fully support the Bureau fulfilling its important, Congressionally-mandated mission of compiling complaints,...
  • April 6, 2018
    April 6, 2018 The Honorable Jeb Hensarling The Honorable Maxine Waters Chairman Ranking Member Committee on Financial Services Committee on Financial Services U.S. House of Representatives U.S. House of Representatives 2129 Rayburn House Office Building 4340 O’Neill House Office Building Washington, D.C. 20515 Washington, D.C. 20151 Dear Chairman Hensarling and Ranking Member Waters: The Consumer...
  • April 6, 2018
    April 6, 2018 The Honorable Mike Crapo The Honorable Sherrod Brown Chairman Ranking Member Committee on Banking, Housing Committee on Banking, Housing & Urban Affairs & Urban Affairs U.S. Senate U.S. Senate 534 Dirksen Office Building 534 Dirksen Office Building Washington, D.C. 20510 Washington, D.C. 20510 Dear Chairman Crapo and Ranking Member Brown: The Consumer Bankers Association (...
  • March 7, 2018
    Private lenders are pushing to break up the government’s near monopoly in the $100 billion-a-year student-loan market. The banking industry’s main lobbying group, the Consumer Bankers Association, is pressing for the government to instate caps on how much individual graduate students and parents of undergraduates can borrow from the government to cover tuition. That would force many families to...
  • February 23, 2018
    CBA LIVE: RECORD ATTENDANCE ONCE AGAIN – With more than 650 bankers registered and overall attendance closing in on 1,400 plus, CBA LIVE 2018: Beyond the Bank is at record attendance. This year, with Brad Conner of Citizens Bank as CBA’s Chairman, we continue to build upon prior successes to bring together senior leaders throughout the retail banking community. With a star-studded lineup of...
  • February 21, 2018
    WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt released the following statement after the Department of Education issued a request for information on undue hardship claims for federal student loans during bankruptcy proceedings: “We look forward to reviewing any proposal from the Administration and will offer comments discussing the key differences in the federal student...
  • January 18, 2018
    Millennial consumers check their phones on average 150 times throughout the day. The majority of millennials have gone completely digital for content consumption and one-fifth rely on their phones to consume any digital content. Make sure your marketing content is ready for your most digital savvy consumers by downloading the EVERFI guide. Learn the 4 tips you should follow to optimize your...

Pages