CFPB Resource CenterThe student loan servicing market continues to be an area of focus for the CFPB, and ACA continues to be a voice for members engaged in collecting student loan debt.
Collecting student loan debt serves a critical function in the economy. ACA members who engage in this kind of work are dedicated to helping millions of students, families, and borrowers repay their loans each year. Like all legitimate credit and collection professionals, those operating in the student loan market play a key role in helping consumers fulfill their financial goals and responsibilities while maintaining the facilitation of the credit market. The CFPB envisions “a student lending market where servicers facilitate repayment of student debt in a manner that is consistent with consumer interests, transparent, and fair, and incentives encourage these outcomes.” As the CFPB continues its focus on student lending, ACA will continue to monitor, report and respond to CFPB activities related to student lending.
CFPB Reports and Joint Statement of Principles
- CFPB Education Loan Servicing Exam Manual (June 2017)
- Snapshot of older consumers and student loan debt (January 2017)
- Joint Statement of Principles on Student Loan Servicing by the CFPB, Department of Treasury, and Department of Education (September 2015)
- CFPB Report: Student Loan Servicing: Analysis of Public Input and Recommendations for Reform (September 2015)
- CFPB Report: Overseas and Underserved: Student Loan Servicing and the Cost to Our Men and Women in Uniform (July 2015)
CFPB Requests for Information
- Request for Information on Student Loan Borrower Communications (Deadline June 12, 2016)
- Request for Information: Student Loan Servicing (Deadline July 13, 2015)