CFPB Requests Approval for “Student Loan Servicing Market Monitoring” Study:

February 17, 2017

On Friday, February 17, 2017, the CFPB held a briefing call to announce a proposed study on increasing transparency in the student loan servicing market. The Bureau seeks comment on an initiative evaluating student debt repayment methods, and tracking behaviors when consumers experiencing financial distress. The CFPB hopes to collect student loan data from the nation’s largest student loan servicers to broaden their view of the student loan market, and assess areas of consumer risk.

 

The Bureau proposed evaluating:

  • The total size of the student loan market;
  • How borrowers use income-driven repayment plans;
  • Borrowers who face the greatest risk of default; and
  • Borrowers with private student loans who experience financial distress.