Bureau of Consumer Protection Guidance on PSLF Program

Earlier this week, the Bureau of Consumer Financial Protection issued a Compliance Bulletin and Policy Guide regarding the serving of federal student loans, including Federal Family Education Loan Program and Perkins loans, for borrowers who may be eligible for Public Service Loan Forgiveness (PSLF) waivers. In communicating with borrowers about the PSLF program, servicers should take action to ensure compliance with the Dodd-Frank Act’s prohibition on unfair and deceptive practices. This bulletin is in effect on March 1, 2022.