Student loan servicing : analyses of practices and reform recommendations / Carly Adkins, editor.

Format:

Book

Contributor:

Adkins, Carly, editor.

Series:

Financial institutions and services.

Financial Institutions and Services

Language:

English

Subjects (All):

Student loans--United States.

Student loans.

Student loans--Government policy--United States.

College graduates--United States--Finance, Personal.

College graduates.

Physical Description:

1 online resource (169 p.)

Place of Publication:

New York, [New York] : Nova Publishers, 2016.

Summary:

Student loans make up the nation's second largest consumer debt market, surpassing all other categories of consumer debt aside from mortgages. Servicers are a critical link between borrowers and lenders. They manage borrowers' accounts, process monthly payments, and communicate directly with borrowers. The servicer is often different than the lender, and a borrower typically has no control over which company services a loan. Regrettably, widespread servicing failures are being reported by both federal and private student loan borrowers. This book reviews and discusses public comments submitted in response to a request for information regarding student loan servicing by the Consumer Financial Protection Bureau. It includes recommendations for policymakers and market participants to improve borrower outcomes and reduce defaults, offering a roadmap for student loan servicing reform. This book also identifies a range of challenging issues for servicemembers with student loans.

Contents:

STUDENT LOAN SERVICING: ANALYSES OF PRACTICES AND REFORM RECOMMENDATIONS; STUDENT LOAN SERVICING: ANALYSES OF PRACTICES AND REFORM RECOMMENDATIONS; Library of Congress Cataloging-in-Publication Data; CONTENTS; PREFACE; Chapter 1: STUDENT LOAN SERVICING: ANALYSIS OF PUBLIC INPUT AND RECOMMENDATIONS FOR REFORM; EXECUTIVE SUMMARY; ABOUT THIS REPORT; INTRODUCTION; 1. PUBLIC INPUT ON STUDENT LOAN SERVICING PRACTICES; 2. PUBLIC INPUT ON ANALOGIES TO SERVICING APPROACHES IN OTHER MARKETS; 3. RECOMMENDATIONS; CONCLUSION

Chapter 2: OVERSEAS AND UNDERSERVED: STUDENT LOAN SERVICING AND THE COST TO OUR MEN AND WOMEN IN UNIFORM1. EXECUTIVE SUMMARY; 2. ISSUES FACED BY MILITARY BORROWERS; 3. CONCLUSION; 4. CONTACT INFORMATION; Chapter 3: THE NEXT FRONT? STUDENT LOAN SERVICING AND THE COST TO OUR MEN AND WOMEN IN UNIFORM; SUMMARY; THE CONSUMER FINANCIAL PROTECTION BUREAU; BENEFITS FOR SERVICE MEMBERS WITH STUDENT LOANS; SUMMARY OF ISSUES; GUIDANCE FOR PROVIDERS OF ASSISTANCE TO MILITARY STUDENT LOAN BORROWERS; CONCLUSION; CONTACT INFORMATION; INDEX

Notes:

Includes index.

Description based on print version record.

ISBN:

1-63484-568-4