Discover, Wells Fargo To Offer Private Student Loan Modifications

Parent Cafe
1

<p>"Consumers facing difficulty in paying back their private student loans often have a difficult time receiving any relief from lenders. While some smaller banks have relaxed their repayment terms for good borrowers in the past, two of the nation’s largest private lenders are set to make the same opportunities available to private student loan borrowers." ...</p>

<p><a href="http://consumerist.com/2014/11/20/discover-wells-fargo-to-offer-private-student-loan-modifications/"&gt;http://consumerist.com/2014/11/20/discover-wells-fargo-to-offer-private-student-loan-modifications/&lt;/a&gt;&lt;/p>

<p>More: <a href="http://www.washingtonpost.com/news/get-there/wp/2014/11/19/wells-fargo-and-discover-to-offer-student-loan-modifications/"&gt;http://www.washingtonpost.com/news/get-there/wp/2014/11/19/wells-fargo-and-discover-to-offer-student-loan-modifications/&lt;/a&gt;&lt;/p>

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<p>Thanks for the post. I will make sure I keep an eye on this for my students who have private undergrad loans.</p>

3

<p>^^ Agreed. This is helpful information. </p>

4

<p>It did say that the modifications would be on a case by case basis, and the student had to be behind on the loans. I guess this might be helpful, but doubt it will be only available to a few.</p>

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<p>It is a move in the direction of changes we had been hoping to see. I think it may just be a matter of time before this sort of program is extended beyond those who have late payments.</p>