Exclusive: Turf War Blocked CFPB From Assisting Fix Education Loan Forgiveness Program
Kathleen Kraninger is manager associated with the customer Financial Protection Bureau, a company which was thwarted because of the U.S. Department of Education from examining difficulties with a student loan forgiveness program that is troubled. Andrew Harrer/Bloomberg via Getty Images hide caption
Kathleen Kraninger is manager for the Consumer Financial Protection Bureau, a company which was thwarted because of the U.S. Department of Education from examining difficulties with a student loan forgiveness program that is troubled.
Beginning early this past year, the country's most effective customer security agency delivered examiners into organizations that operate education loan call centers to try and fix a distressed loan forgiveness system. However the Department of Education blocked the bureau from having the given information it required, NPR has learned.
Senators Press CFPB To Dig Into Public Provider Loan Forgiveness Dilemmas
The general public provider Loan Forgiveness Program is made to assist firefighters, army solution users, nonprofit employees as well as others. But thousands of individuals state they certainly were addressed unfairly and rejected.
Certainly one of them had been Wendy Feliciano, an authorities sergeant within the Bronx borough of the latest York City. In 2007, she heard of this program, which guarantees general public solution employees that when they make qualifying student loan re payments for a decade, their staying education loan financial obligation will undoubtedly be forgiven.
Wendy Feliciano is within the Army Reserve and it is a sergeant when you look at the nyc Police Department. After a decade of loan re re payments, she had been told she was at the repayment that is wrong to be eligible for the general public provider Loan Forgiveness system. "this might be a complete scam, " she states. (more…)