CFPB Seeks Info On Options For Extra Student Loan Payments

Law360, New York (November 27, 2013, 5:17 PM EST) -- The Consumer Financial Protection Bureau on Tuesday asked private student-loan servicers to provide information about the options they have available for borrowers who want to make extra payments on their outstanding loans.

In a letter to servicers, CFPB private student loan ombudsman Rohit Chopra said the bureau wanted to learn more about what policies are in place for borrowers who want to pay off their loans prior to their due date, with all submissions done on a voluntary basis. The request comes after an industry group...
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