Millions of consumers may not be getting a fair resolution in disputes with their financial institutions over products and services, according to a report released Tuesday by the Consumer Financial Protection Bureau.
Most graduates in the Class of 2013 left campus with more than a diploma. Nearly 7 out of 10 also had student loan debt. The average amount: $28,400, up 2 percent from the debt of those who graduated a year earlier.
Just as the Federal Reserve Bank of New York is raising concern about growing student loan debt and defaults, President Barack Obama is moving to expand a repayment program aimed at helping lower-income borrowers.
Many parents and grandparents are aware of the hazards of cosigning an education loan, putting themselves on the hook to repay if the student doesn't.
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