Complaints About Student Loans Have Always Been Low & Continue to Decline
While student loans represent the second largest type of consumer investment in the U.S., consumer complaints about student loans are just a small fraction of the financial product complaints received by the Consumer Financial Protection Bureau (CFPB) each year. In 2019, only 3 percent of consumer complaints pertained to student loans and in 2020, during the COVID-19 pandemic, complaints dropped further to just 1% of the 542,300 consumer financial product complaints received that year. The following fact sheet provides an overview of the latest CFPB data demonstrating the very low rate of complaints about student loans.
