Many of today’s college students face unnecessary financial risks by relying on unregulated private student loans to pay for college, with some students paying up to 18 percent interest.
Washington, D.C. – Today, President Obama is taking a bold step to protect student consumers from financial tricks and traps by announcing a recess appointment of his well-qualified nominee, Richard Cordray, to head the new Consumer Financial Protection Bureau. The CFPB can improve private student loans as well as credit cards and debit cards issued on campus.
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