Alert February 07, 2012

CFPB Issues Memorandum on Comments Received on Know Before You Owe Student Loan Project

The CFPB issued a memorandum to persons providing comments on the Bureau’s “financial aid shopping sheet thought starter” – a discussion piece published by the Bureau on how schools might improve the information they present to prospective students and their families on college costs and student loans. Commenters most frequently expressed interest in improvements in the following areas:  estimated debt at graduation, estimated monthly payment after graduation, ability to repay loans, complete breakdown of cost at school by category, and whether students at a particular school have been able to repay loans. Click here for the memorandum.