Student Loan Borrowers Suffer Credit Penalty Due to Reporting Errors
2 min readMay 25, 2021
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Congress Should Take Corrective Action
A new report from the Student Borrower Protection Center (SBPC) notes that millions of consumers with student loan debt are or have experienced significant credit score drops as a result of errors in reporting by loan servicing companies.
John Albanese explains the impact in a blog post:
In May 2020, the student loan servicer Great Lakes Educational Loan Servicing Inc. provided inaccurate information…