Monday, November 28, 2011

Agency Wants to Hear Private Student Loan Horror Stories

If you have a private student loan -- and you are upset about what you've gotten yourself into - there's a government agency that wants to hear your story.

The Consumer Financial Protection Bureau is asking students, families, the higher education community and the student loan industry - both lenders and servicers - to address a number of issues.

The bureau is particularly interested in hearing about schools with specific programs or practices that educate students about their debt loads and ability to afford their loan payments, as well as any evidence concerning the impact of such initiatives.

The new agency is also creating a one-stop shopping sheet to help students better understand the type and amount of financial aid they qualify for so they know how much they'll owe before choosing a college.

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