The U.S. Consumer Financial Protection Bureau is seeking public input on possible policies to ease repayment of student loans, the agency said.
“Too many private student-loan borrowers are struggling with unwieldy debt that prevents them from climbing the economic ladder,” said Richard Cordray, the CFPB’s director, said. “We will be analyzing plans for policy makers to consider that might help avoid a repeat of the mortgage meltdown for today’s student-loan borrowers.”
The CFPB is asking for input on how student loans might affect the broader economy and impede access to other forms of credit. It also wants to collect more information on how struggling borrowers manage their loan repayments, options for lowering monthly payments and examples of repayment plans in other markets that might work for student loans.
Comments are due by April 8.