For More Information Contact: Elizabeth Ben-Ishai (202)588-7746
For Immediate Release: January 17th, 2012

Commercial Alert to CFPB: To Protect Consumers, Private Student Loan Advertising Must Be Regulated

Public Citizen’s Commercial Alert submitted comments in response to the Consumer Financial Protection Bureau’s Request for Information Regarding Private Education Loans and Private Education Lenders.

Public Citizen believes that proper regulation of the marketing and advertising of private student loans is a crucial component of helping students to make informed decisions about which financial services and products are right for them. In an ideal world, federal aid would be sufficient to fully meet all studentsí needs. Given that this is not the case, and that some students must rely on private lenders to pursue higher education, students must be protected from exploitative education lenders who fail to offer sufficient information to allow students to make sound financial decisions.

To read the full comments, click here