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CFPB ombudsman highlights student loan problems
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Consumer Protection
Tuesday, August 23, 2016
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Problems related to the Income-Based Repayment (IBR) plan offered to student loan borrowers since 2009 are nothing new, as the Consumer Financial Protection Bureau’s ombudsman has documented loan servicer communication concerns in the past. Now, a new report shines a light on another problem in the lifecycle of the student loan borrower: The processing of IBR applications. Read on for a summary of borrowers’ latest complaints.
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