Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...

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Reviewed by Joel Ohman
Founder, CFP® Joel Ohman

UPDATED: Nov 16, 2011

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The Consumer Financial Protection Bureau (CFPB) recently released an automated advice system for student debt on their website. This debt assistant asks borrowers questions about their student loans and financial situation in order to provide them with helpful information on how they can effectively repay their debt.


After determining what kind of loans a borrower has, the student debt repayment assistant offers such advice as:

  • Call your student loan provider and ask for payment reductions or extensions on bills
  • Enroll in the income-based repayment (IBR) program
  • Defer your loans if eligible

This assistant is but one step in the CFPB’s plan to provide help for student loan borrowers.


“The private student loan market is one of the least understood consumer credit markets. It has been operating in the shadows for too long,” said Raj Date, Special Advisor to the Secretary of the Treasury on the CFPB. “Shedding light on this industry will benefit students, lenders, and the market as a whole.”


In an effort to live up to this promise, the CFPB is asking the public to give their personal input on private student loans. The CFPB is asking for student loan borrowers to read and submit responses to a questionnaire on their site.


“It doesn’t matter whether you have two sentences or two pages of input,” the CFPB wants to receive any and all public input about private student loans, as reported on the CFPB’s blog.


The information collected from this questionnaire will aid the CFPB in preparing a report to be brought to congress on student lending.