CFPB blog post discusses student loan servicing problems related to enrollment status

This story appeared in Bank Digest.

Consumer Financial Protection Bureau Student Loan Ombudsman Seth Frotman has written a blog post regarding student loan servicing problems "that may be driven by incomplete, inaccurate, or untimely information" on a borrower's enrollment status, which he described as "a record of the dates you have been enrolled in college, including whether you are currently enrolled and your expected graduation date."

Frotman said bad information about enrollment status "can cost some borrowers hundreds in additional interest charges, and lead to unexpected loan bills and lost eligibility for other student loan benefits." The post goes on to describe problems borrowers can experience due to incorrect information about their enrollment status, and it offers tips to help them catch and resolve errors.