Borrowers are Being Illegally Barred from Making Income Based Payments on Student Loans

Unfortunately, in this day and age, student loans are a necessary evil that nearly every college student has to indulge in – and now the process of repaying those loans has gotten even more complicated.
The Consumer Financial Protection Bureau(CFPB) has determined that many student loan ‘servicers’ are illegally denying borrowers the right to adjust their repayments to match their income, even though they qualify for the special repayment programs.
One of the reasons servicers do not want borrowers to use the special income driven repayment programs, is that after 20 years any balance can be ‘forgiven”.
However, CFPB is demanding that Government appointed servicers live up to their original agreements and allow qualifying borrowers access to income driven repayment plans.
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