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. 

  • 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 17, 2018
    January 17, 2018 The Honorable Lamar Alexander The Honorable Patty Murray Chairman Ranking Member Committee on Health, Education, Committee on Health, Education Labor and Pensions Labor and Pensions United States Senate United States Senate 455 Dirksen Senate Office Building 154 Russell Senate Office Building Washington, DC 20510 Washington, DC 20510 Dear Senators Alexander and Murray: On behalf...
  • December 13, 2017
    WASHINGTON – Following the House Education and Workforce Committee’s passage of the Promoting Real Opportunity, Success, and Prosperity through Education Reform (PROSPER) Act, the Consumer Bankers Association (CBA) said the bill contains several positive provisions to help students and their families afford higher education. However, the legislation also contains troubling provisions expanding...
  • December 12, 2017
    December 12, 2017 The Honorable Virginia Foxx Chairwoman Committee on Education and the Workforce United States House of Representatives 2176 Rayburn House Office Building Washington, DC 20515 Dear Dr. Foxx, The Consumer Bankers Association (CBA) is dedicated to helping students finance their higher education without overburdening their futures. It is critical for higher education reform to...
  • December 8, 2017
    CBA LIVE Speakers Announced: CEOs of Citizens Bank and Bank of the West CBA LIVE is proud to announce two powerhouse additions to our speaker lineup. Former CBA Board member and current Bank of the West President and CEO Nandita Bakhshi will team up with Citizens Financial Group, Inc. Chairman and CEO Bruce Van Saun to discuss disruption, innovation, moving beyond conventional thinking and their...
  • December 4, 2017
    Legislation includes several CBA supported provisions to help students, but federal loan expansion could increase college tuition costs WASHINGTON, D.C. – The Consumer Bankers Association (CBA) thanked House Education and Workforce Committee Chair Virginia Foxx (R-NC) for her leadership in introducing the Higher Education Act reauthorization bill. The bill, introduced late Friday, contains...
  • November 21, 2017
    On Tuesday, November 21, 2017, the CFPB announced action against Citibank, N.A. for alleged student loan servicing issues. According to its press release, the Bureau claims Citibank misled borrowers into believing they were not eligible for a tax deductions on interest paid on certain student loans, incorrectly charged late fees and added interest to the student loan balances of borrowers who...
  • October 25, 2017
    October 25, 2017 The Honorable Luke Messer U.S. House of Representatives 1230 Longworth House Office Building Washington, D.C. 20515 The Honorable Emanuel Cleaver, II U.S. House of Representatives 2335 Rayburn House Office Building Washington, D.C. 20515 Dear Congressmen Messer and Cleaver: On behalf of the Consumer Bankers Association (CBA), I write to express our strong support for H.R. 4119,...
  • October 25, 2017
    The Consumer Bankers Association today sent a letter to Representatives Luke Messer (R-Ind.) and Emanuel Cleaver, II (D-Mo.) supporting their bipartisan Student Loan Disclosure Modernization Act (H.R. 4119). The legislation requires the Department of Education to streamline the “plain language” disclosure form and more clearly explain the costs and terms of federal student loans. The current...

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