Student Loan Borrowers Suffer Credit Penalty Due to Reporting Errors

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

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Andy Spears

Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .