00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Federal student loan borrowers submitted a record number of complaints to the Consumer
00:06Financial Protection Bureau for mid-2024 to mid-2025, according to CNBC. In a report published
00:14in January, the CFPB said it received around 18,400 federal student loan complaints for the
00:20year ending June 30, 2025, up 36% from the prior year. A draft version of the report reviewed by
00:27CNBC included detailed breakdowns of complaints, loan servicers, and recommendations that were
00:33omitted from the published version. The draft found repayment issues accounted for 24% of
00:38complaints, credit reporting for 15%, and public service loan forgiveness for 7%. More than 42
00:44million Americans hold over $1.6 trillion in student loan debt. Borrowers are facing delays in repayment
00:51plans and forgiveness programs under the Trump administration. For all things money, visit
00:56benzinga.com.
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