Letter to CFPB on Recent Problems with Sallie Mae’s Student Loan Servicing Platform
November 13, 2013 – Letter urging the CFPB to investigate Sallie Mae’s recent servicing problems to make sure customers are made whole, investigate if they affected both private and federal loan borrowers, and determine what steps are needed to prevent future problems.
Letter to Director Cordray Urging the CFPB to Deny “Grace Periods” for Private Loan Disclosures
August 7, 2013 – Letter from TICAS urging the CFPB to deny private lenders’ request for a 30-day “compliance grace period,” during which the lenders would not be required to inform borrowers of the interest rates on federal student loans. Students cannot ‘know before they owe’ if they are not given the information required under the Truth in Lending Act, are not given accurate information, or only given it after they take out the loan.
TICAS Comments on Proposed Rule Defining Larger Participants in the Student Loan Servicing Market
May 28, 2013 – Comments in response to the Consumer Financial Protection Bureau’s proposed rule defining nonbank larger participants of the student loan servicing market subject to supervision by the Bureau.
TICAS Comments in Response to the CFPB’s Request for Information on Private Student Loan Affordability
April 8, 2013 – Comments in response to the CFPB’s request for information regarding an initiative to promote student loan affordability.
TICAS Comments to the CFPB on Private Student Loans
August 13, 2012 – TICAS recently submitted comments in response to the Consumer Financial Protection Bureau’s request for information regarding complaints from private education loan borrowers.
TICAS Comments on the Proposed Rule Defining Larger Participants in Certain Consumer Financial Product and Service Markets
April 16, 2012 – Comments in response to the Consumer Financial Protection Bureau’s proposed rule defining the “larger” debt collectors and consumer reporting agencies subject to supervision by the Bureau.
TICAS Comments to the CFPB on Streamlining Inherited Regulations
March 5, 2012 – Response to the Consumer Financial Protection Bureau’s request for public comment on streamlining regulations it inherited from other federal agencies.
TICAS Comments on Private Student Loans
January 17, 2012 – Official comments in response to the Consumer Financial Protection Bureau’s “Request for Information Regarding Private Education Loans and Private Educational Lenders” (FR Doc. 2011-29737, Docket No. CFPB-2011-0037).
Official Comment on Self-Certification Form
November 25, 2009 – The self-certification form must be filled out by students applying for a private student loan, starting in February 2010. Our official public comments suggest ways to make sure students know about cheaper, safer federal aid options and seek counsel from the financial aid office before taking out a private student loan. See the form wtih our suggested edits
Summary of New Disclosures for Private Student Loans
August 25, 2009 – We were disappointed that the Federal Reserve Board did not adopt most of our suggestions in their regulations for new private loan disclosures mandated by the Higher Education Opportunity Act of 2008. This summary breaks down our suggestions and how they fared.
Comments to Federal Reserve Board on Private Student Loan Disclosures
May 26, 2009 – The Institute for College Access & Success and 10 other national consumer groups submitted public comments about the proposed rules for new private loan disclosures.