Private Student Loans

"American consumers owe more than $150 billion in outstanding private student loan
debt. While this amount is significantly less than the amount outstanding on student
loans guaranteed by the federal government, the private student loan (“PSL”) product
is an important component of higher education finance and does not appear to be well
understood by the public.

In this Report, the Consumer Financial Protection Bureau and the US Department of
Education seek to highlight key attributes of the private student loan marketplace, as
well as consumer protection issues which policymakers may wish to address..."