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

  • Is the FAFSA Poised for Another Fiasco?
  • How College Presidents Are Quietly Resisting Federal Attacks On Higher Education - Opinion Piece
  • Education Department Lays Off Nearly Half of Staff
  • Wary Colleges Scramble to Meet DEI Deadline
  • As Colleges Face Funding Threat, Accreditors Offer Flexibility
  • Trump Is Targeting DEI in Higher Ed. But What Does He Mean?
  • Back to Article Overview