Complaints about student loans are up 78 percent this year

There are more American students burdened with loans causing more complaints.

(Image credit: iStock)

published 14 October 2016

Some 43.3 million Americans are saddled with student debt totaling $1.26 trillion. Many are not happy about it.

Indeed, complaints to the Consumer Financial Protection Bureau about student lending practices have surged 78 percent since last year. There were 1,254 complaints in August alone, the same month the agency fined Wells Fargo $3.6 million for charging student loan customers illegal fees and providing misleading payment information.