Among the issues are the difficulty they face when requesting loan releases or lack of access to loan accounts and information about the status of the loans they cosigned. Many of the complaints suggest that student-loan servicing problems exacerbate the borrowers’ financial problems. Tori Spelling and Dean McDermott Announce Separation. Since the CFPB started accepting consumer complaints about student loans in 2012, the bureau has received 1,100 complaints, including 500 incidences related to debt collection of student loans. The Newton College and Career Academy hosted a dinner for Work Based Learning students in Newton. Most of those affected receive disability benefits. The CFPB’s analysis came less than a month after the Government Accountability Office released a report focusing on the growing number of older borrowers whose Social Security payments are garnished by the government to offset unpaid student loans. Those consumers are also more likely than others to skip necessary health-care spending, the survey found. According to a 2013 survey by the Federal Reserve, the median balance in the individual retirement accounts of consumers with student loans was $31,000, compared with $56,000 for those without such loans. The rise in the student debt burden among older consumers raises concerns about their retirement security.
