Student Loan Borrowers May Get Millions After Servicers Accused of Failure
The Consumer Financial Protection Bureau (CFPB) on Monday filed a complaint against two major private student loan servicers, alleging failure to address borrowers’ requests. The CFPB accused the National Collegiate Student Loan Trust (NCSLT), a group of 15 securitization trusts, and the loan servicer Pennsylvania Higher Education Assistance Agency (PHEAA) of failing to respond to