The CFPB has published a notice in the Federal Register seeking comment on its request for approval by the Office of Management and Budget of a new one-time survey of student loan borrowers. Comments must be received by September 18, 2023.
The survey is intended to allow the CFPB “to understand [student borrowers’] borrowing decisions, their experience managing their loans, and their expectations for the future.” The CFPB will send the survey to a random sample of individuals selected from individuals in its new Consumer Credit Information Panel (CCIP). The CCIP is a sample of de-identified credit records from one of the nationwide consumer reporting agencies. Responses to the survey will be matched to the CFPB’s CCIP data to provide a more complete picture of borrowers’ financial standing. In conducting the new survey, the CFPB plans to follow similar methods to its Making Ends Meet and Consumer Views on Debt surveys but will sample a different population of borrowers and focus primarily on student loans.