Headline News

Loan Servicers Charged Late Fees, Interest After On-Time Payments, Federal Agency Finds

Some student loan providers charged borrowers late fees and interest despite payments being made on time, according to a new report on junk fees from the Consumer Financial Protection Bureau. The agency found that customer service representatives at multiple loan companies took credit card payments over the phone, despite the companies having policies against accepting credit cards to cover student borrowers’ outstanding debt. 
 
Read Full Article

More news from NAICU

  • Our Economy Runs On College Jobs, And It Will Need More In The Future - Opinion Piece
  • Federal Aid Sent Me and My 11 Siblings to College. Slashing the Pell Grant Steals That Chance From Students Today. - Commentary
  • College Enrollment Continues to Climb, Nearing Recovery
  • Former Trump official, university leaders caution senators against limiting Pell
  • House Republicans Finalize Plan to Increase Endowment Tax Up to 21%
  • Is College Still Worth It? - Opinion Piece
  • Back to Article Overview