From Business Insider:
A small student-loan company just got charged a hefty fine for accusations of lying to borrowers about loan forgiveness and repayment programs.
On Wednesday, the Consumer Financial Protection Bureau (CFPB) sanctioned Edfinancial Services for "making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment options to them," according to the press release.
Specifically, the bureau said Edfinancial did not provide accurate information to borrowers of the privately held Federal Family Education Loan (FFEL) program about their eligibility for the Public Service Loan Forgiveness (PSLF) program — a program that forgives student debt for public servants after ten years, and recently expanded its eligibility to include FFEL borrowers through a temporary waiver.
And that's my new servicer. 😐
@Anonymous wrote:
@Adkins
It seems we are seeing action threads on some wrong doing financial activities! Hope the heat gets turned up!
Yes!