House Budget Proposal; CFPB Taking Student Loan Complaints

House Budget Proposal Cuts Pell Grants and Student Loans

Today, the U.S. House of Representatives will begin consideration of the House Majority's FY2013 budget proposal. It would make college even less affordable and student debt harder to repay by slashing funding and eligibility for Pell Grants, eliminating the in-school interest subsidy for federal Stafford loans just as interest rates are set to double, and repealing scheduled improvements to Income-Based Repayment (IBR). In contrast, the President's FY2013 budget proposal, released last month, makes college affordability a high priority by taking several key steps to help limit the need to borrow and keep debt manageable for those who need loans to get through school.

Read our statement on the House Majority's proposal

Read our statement on the President's proposal

Help for Borrowers with Private and Federal Loans: CFPB Student Loan Complaint System Up and Running

This month, the Consumer Financial Protection Bureau (CFPB) launched its new student loan complaint system, which means borrowers with private student loans finally have a place to turn for help! If you have questions or complaints about a lender, servicer, or debt collector - for a private or federal student loan - you can go online or call the toll-free hotline (855-411-CFPB).

Click here to submit a complaint online or call (855) 411-CFPB

Read more about the CFPB's complaint system