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Case Study: Student Loon System Memorandum

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STUDENT LOAN SYSTEM MEMORANDUM 27 October 2015 FROM: Christopher Moore RE: Four recommendations from the Department of Education on systems that would help protect student loan borrowers READ BY DATE: No deadline "Strengthen Federal Student Loan Servicing" • Create an outright ban on the marketing of other financial products by lenders to student borrowers. • Revise credit reporting to include recognition of borrowers in good standing, reflect the complexity of Federal repayment options, and ensure equal treatment of all borrowers. • The Ombudsman should have a more "borrower-centric consumer focus", rather than simply performing the role of a mediator. • As graduates are constantly on the move, servicers should be allowed to contact

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