News Topic: student loans

The online lender has acquired NextGenVest, which uses AI and text messaging to advise high school and college students about getting loans. CommonBond’s goal is to better understand the distinctly different demographic group rising behind millennials. ... Read full article

Three former CFPB officials seek more enforcement against lenders; Federal Reserve interest rates hikes have boosted bank profits. ... Read full article

Seth Frotman oversaw the $1.5 trillion student loan market for the Trump administration. Now he's starting his own watchdog group to do what he says the government won't, and he's poaching former colleagues to do it. ... Read full article

The Massachusetts senator said the government’s findings bolster allegations that the servicer steered borrowers into expensive student loan forbearance plans. ... Read full article

Adults ages 18 to 29 may have a hard time getting a mortgage, but they are not shying away from other forms of consumer debt, according to a report by the New York Fed. ... Read full article

The Federal Trade Commission, which issued a formal complaint against SoFi, is urging other lenders to review their advertisements for false claims about the benefits of refinancing. ... Read full article

The US Education Department is assigning the complex task of monitoring the employment and the on-time payments of Public Service Loan Forgiveness aspirants to its worst-performing servicer. USED has contracted with servicing company FedLoan, affiliate of ... Read full article

It's difficult to predict exactly what might be the next threat to the financial system. Here's a roundup of some prime suspects. ... Read full article

The senior Democratic lawmaker said the CFPB chief and the Trump administration "are doing everything in their power to roll back consumer protections." ... Read full article

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The report from an advocacy group that focuses on college affordability says that schools need to do a better job of educating students about their eligibility for federal loans, which typically carry lower interest rates than loans from banks and other ... Read full article

Four lenders, led by Sallie Mae, have long dominated the market for private student loans. But they could soon face new competition from Navient and Nelnet. ... Read full article

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Randal Quarles was considered for Financial Stability Board chair spot; the outgoing student loan ombudsman says the agency puts lenders before consumers. ... Read full article

Seth Frotman, whose student lending unit had been gutted in May, said the bureau's current leadership "has abandoned its duty to fairly and robustly enforce the law.” ... Read full article

Cheap funding and marketing muscle could give it an advantage over existing lenders, but this corner of the market may not be big enough to move the needle for the bank. ... Read full article

It bothered Jeannie Tarkenton, founder of Funding University, that too many kids from lower-income families didn't graduate because they lacked just a few thousand dollars and couldn't get a loan. ... Read full article

Wells Fargo & Co. is considering whether to jump-start its shrinking student-lending business by catering to borrowers holding U.S. government loans. ... Read full article