To solve the student-loan crisis, the Consumer Financial Protection Bureau is asking the public for their ideas. Aside from the personal pain caused by a mountain of student debt, the CFPB wants to head off the possibility of another financial crisis just like the housing bust.
U.S. Education Secretary Arne Duncan is urging colleges and universities to adopt an easy-to-understand financial aid form to help students make smarter decisions on where to study, how to pay and determine what they'll owe.
Student loan debt is a $1 trillion issue today, but according to the Consumer Financial Protection Bureau, one fairly small part of the student loan market appears to be most responsible for many of the problems borrowers face: private student loans.
Risky lending caused private student loan debt to balloon in the past decade, leaving many Americans struggling to pay off loans that they can't afford, a government study says.
