The New York Federal Reserve reports that student loan debt is an enormous burden – $966 billion at the end of 2012. Moreover, that number is contributing to the lack of economic growth, evidenced by fewer borrowers buying homes. According to the Huffington Post, the Consumer Financial Protection Bureau is investigating ways in which it might be easier for those with private student loans to refinance, helping to reverse the domino effect that student loans have on the economy.
Here’s HuffPo’s interview with a CFPB representative:
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