This story appeared in Bank Digest.
In a press release, blog entry, and two reports, the CFPB has addressed student loan repayment problems and possibilities for help. Nearly half of students end their education owing at least $20,000, the Bureau says, a proportion that has more than doubled in the last 10 years. According to a CFPB Data Point, students are borrowing later in life and finding it harder to repay their loans, the Bureau also says—50 percent do not begin to repay their loans until age 34, and 30 percent have not reduced their loan principal after five years of payments. In a second report titled “Highlights: Emerging Student Loan Repayment Assistance Programs,” one response has been increased employer repayment assistance. This report offers suggestions for making student loan repayment assistance programs more effective.