The CFPB circulated its fourth Annual Report regarding the education loan Ombudsman speaking about complaints gotten because of the CFPB about private and student that is federal in addition to lessons drawn because of the Ombudsman from those complaints. (The report ended up being released by Seth Frotman, that is presently serving as Acting scholar Loan Ombudsman following the departure of Rohit Chopra this past June. ) The report is founded on the CFPB scholar Loan Ombudsman’s analysis of around 6,400 student that is private associated complaints and 2,700 business collection agencies complaints associated with private and federal figuratively speaking submitted to your CFPB from October 1, 2014 to September 30, 2015. (This continues to express a extremely low problem price offered the scores of personal student education loans outstanding. )
The education loan Ombudsman’s report comes from the heels regarding the report on student loan servicing granted by the CFPB at the conclusion of final which discussed comments submitted in response to a Request for Information Regarding Student Loan Servicing published by the CFPB in May 2015 month. That report had been followed by a Joint Statement of Principles on scholar Loan Servicing issued by the CFPB, U.S.