New Database Helping Student Loan Borrowers

More than 330 consumers have received financial compensation as a result of complaints they have made on a new federal database about the lenders for their student loans, according to a report released Thursday by the U.S. PIRG Education Fund. The report examined the results of complaints filed with the new Consumer Financial Protection Bureau's public Consumer Complaints Database. The 330 represent about 8 percent of all complaints filed. Another 500 borrowers (about 12 percent of complaints filed) had complaints closed with non-monetary agreements, such as changes in collection proceedings. Read more...