So long as Salliemae and its various branches is included, I would consider this as a mission accomplished.
In my opinion any increased cost is irrelevant next to the potential to help prevent damage to future consumers. There is a phrase in gaming known as "unwinnable by design" and I can think of no better example of this than the current system for student loans. Most of the time there seem to be no issues but when large numbers of people begin getting stuck in similar ways then there is something going severely wrong under the surface.
I wish the CFPB and the varios loan servicers good luck in their efforts to improve the market for all.
Comment on CFPB-2013-0005-0001
This is comment on Proposed Rule
Defining Larger Participants of Student Loan Servicing Market
View Comment
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