ALBANY, N.Y. (AP) — New York financial regulators have launched a website intended to help college students sort out loan options.
The Department of Financial Services website — http://www.dfs.ny.gov/studentprotection — contains information and advice about types of student aid and issues including deferment and default.
Federal data show student debt nationwide has more than quadrupled in the last decade, with average student debt per borrower of $27,310 in New York.
The DFS’s Student Protection Unit was established to investigate complaints. In January, it issued subpoenas to 13 student debt relief companies in an ongoing probe of potentially misleading advertising, improper fees, and other consumer protection problems.