student loans

SoFi plans new lending products and move Into stock trading

02/15/19

The company's expansion into new business lines could help offset recent declines in loan volume.

[more]

Student Loan Servicing Fail (continued)

02/14/19

The U.S. Education Department is doing a lousy job of overseeing the private companies servicing $1.1 TRILLION of federal student loans. That is the gist of the Inspector General's findings in a new report. Among other problems, the IG found that servicers were not telling borrowers about available repayment options, and were miscalculating income-based repayment amounts.

[more]

CommonBond gets $750 million in lending funds from top banks

02/14/19

Barclays, BMO, Citibank, Goldman Sachs and ING contributed to the online student lender, which last year made over $1 billion in loans.

[more]

Navient seeks to narrow CFPB’s student loan servicing lawsuit

01/18/19

The company has filed a request with a federal judge in Pennsylvania for a summary judgment in two counts against it, accusing the bureau of failing to provide evidence.

[more]

Warren presses Wells Fargo on student fees

01/17/19

A CFPB report revealed that the fees charged to college students by Wells Fargo for financial products are three times higher than average. Sen. Warren wants to know why.

[more]

KeyCorp to buy digital platform from Conn. community bank

01/17/19

The online platform, created by Laurel Road Bank in 2013, allows users to refinance student loans and originate mortgages.

[more]

CommonBond braces for bumpy 2019 by laying off 18% of staff

01/16/19

The online student lender said it is reallocating some jobs and "sunsetting" others.

[more]

Banks pitch refis to generation buried in student debt

12/21/18

Student loan debt — now at $1.5 trillion in the U.S. — is arguably the greatest pain point for consumers in their 20s and 30s. To court that demographic, banks are increasingly offering help with refinancing and repayment.

[more]

Navient must face Pa. lawsuit for alleged predatory lending

12/18/18

A U.S. District judge in Scranton denied the student lender's motion to dismiss the suit.

[more]

Student loan debt sets record, doubling since recession

12/17/18

U.S. student loan debt outstanding reached a record $1.465 trillion last month and one particular set of borrowers is having a hard time paying back their loans.

[more]