Federal Reserve Bank of San Francisco

Agencies Encourage Lenders to Work with Student Loan Borrowers

Author(s): Federal Reserve Bank of San Francisco

July 29, 2013

On Thursday, July 25, 2013, the federal bank regulatory agencies issued a statement encouraging financial institutions to work constructively with private student loan borrowers experiencing financial difficulties. Prudent workout arrangements are consistent with safe and sound lending practices and are generally in the long-term best interest of both the financial institution and the borrower.

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