The CFPB has created a student loan infographic to highlight the state of student loans in the pandemic.  Among the statistics included in the infographic is that, based on Department of Education data current as of September 2020, 87% of federal student loan borrowers had their federal student loans in administrative forbearance.

The CFPB published

It appears that the final chapter of the ITT Educational Services, Inc. (“ITT”) story was written last week with the CFPB’s announcement that it entered into a stipulated settlement with PEAKS Trust 2009-1 (“PEAKS”), a special purpose entity created in 2009 to purchase, own, and manage certain private student loans with students enrolled at ITT.

The Department of Education has announced the new federal student loan interest rates for 2019-2020.  For the first time in three years, interest rates on federal student loans will decrease.  Rates for Direct Subsidized and Unsubsidized Loans (for undergraduate students) will fall to 4.53 percent, down from 5.05 percent for the 2018-2019 academic year.  

After reanalyzing certain sample loan level data, the CFPB announced that it is not making any changes to the key findings and recommendations in its July report to Congress on private student loans.  The CFPB had posted a “research note” on its website to accompany the report disclosing that it had been informed

The CFPB issued today its report to Congress on private student loans as mandated by Dodd-Frank, which the CFPB describes as the “Cycle of boom and bust in private student loan market.”  Issued jointly with the Department of Education, the report consists of five parts dealing with (1) lenders, loan markets and products, (2) borrower

In a notice published in today’s Federal Register, the CFPB is seeking public comment on a series of questions about private student loans.  According to Rick Hackett, the CFPB’s Assistant Director for Installment Lending Markets, the CFPB wants to hear from “students, families, school counselors, lenders, servicers, and anyone who has anything to do