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Mario Treto, Jr., Secretary

IDFPR Submits Student Loan Letter to the White House

News Release – Thursday, March 21, 2024

Dear President Biden and Secretary Cardona,

For the first time in three years, more than 40 million federal student loan borrowers started repayment on their student loans. As the return to repayment launched, several major issues regarding student loans, payment plans, credit reports, and other aspects of student loans came into focus for state regulators. In addition, the Consumer Financial Protection Bureau issued a report titled, “Issue Spotlight: Federal Student Loan Return to Repayment” which discusses several alarming trends that negatively affect borrowers. We, the regulators of Illinois, Oregon, and Washington, write to advocate for swift action to resolve these issues for our residents in partnership with the Department of Education (ED).

To view the letter to the White House please click here.

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