News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Wayside Furniture

Don Drumm Studios


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Education


Cordray's agency looks for help in reining in student debt
The Consumer Financial Protection Bureau says lessons learned in the mortgage mess may apply
by WKSU's M.L. SCHULTZE


Web Editor
M.L. Schultze
 
Richard Cordray, head of the Consumer Financial Protection Bureau
Download (WKSU Only)
In The Region:

Nine months ago, Ohio’s former Attorney General Richard Cordray acknowledged his new agency had a lot of work to do on student loans. Today, the Consumer Financial Protection Bureau revealed part of its plan. But as WKSU’s M.L. Schultze reports, it’s a small incremental step.

SCHULTZE: Reigning in student debt

Other options:
Windows Media / MP3 Download (1:05)


The average student-loan debt in Ohio is nearly $29,000, seventh highest in the country.  And nationally, the Consumer Financial Protection Bureau has logged more than 3,000 complaints over student loans. Nearly two-thirds of them accuse private lenders of making it hard to renegotiate new terms or lower interest rates. 

Now the agency is asking lenders, colleges, students and others for evidence of how big a problem the student-loan debt can be, what options borrowers have now, and what alternatives seem to be working.

The bureau’s Rohit Chopra says the agency is especially interested in lessons learned by the mortgage industry. 

“Many borrowers who have obtained employment and are earning good money wonder why they’re not able to refinance their student loans and lock in a lower rate, which we’ve seen a lot of a number of homeowners across the country be able to do and put those savings to other uses.

Chopra acknowledges that because there’s no collateral, student loans differ from home loans.

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Akron council committee recommends Forney for its opening
Which committee member voted for Wilhite?

Canton Youth Symphony is named orchestra of the year
This is what makes CSO the hippest small town orchestra in America!

What can be expected if Ohio's tobacco taxes increase?
let's face it! The increase has little to do with smoking cessation

Rare Cleveland Indians photo from 1911 hits the auction block
Paddy Livingston, who cut his teeth on a Louisville Slugger in Kent, Ohio was one of the immortals that played in that game. He was the catcher. Ty Cobb actuall...

Nexus denies Green's request to relocate its planned gas pipeline
These people have so much power. Too much. They could care less about the people they leave when it is done. Spectra does not, and admits, they do not do the...

The former Hugo Boss plant is about to start making suits again in NE Ohio
Hugoo Boss should not even be allowed to make or sell suits in the USA ..... During WWII, they were a nazi company. They made the uniforms for the S.S.

Ohio voters remain split over gay marriage
It's all good. The bigots will get used to it, just like interracial marriage. Or they die off-either way, all is well :-)

Ohio Senate budget reduces low income housing funds
Bill is correct. Lake County receives funding to assist in the operations of permanent housing for over 90 households annually - persons who are living with a s...

Cleveland's mustard war rages on
Stadium Mustard is stolen from Bertman's and it is made in Chicago. Real thieves and creeps. Bertman's or death.

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University