The Impact of Student Loan Repayment on Credit Scores

Student-loan companies are encouraging federal borrowers to refinance their loans before the payment restart, but this could strip borrowers of their federal benefits, including broad debt relief. Many federal programs to help borrowers are not available if their loans are held by a private lender. Some companies are not adequately disclosing these risks, leading borrowers to potentially miss out on federal benefits. The Consumer Financial Protection Bureau (CFPB) is monitoring how companies advertise refinancing and advises borrowers to submit complaints if they suspect misleading behavior.