As the student loan crisis progresses, fingers are pointed in all directions to determine who should be doing more to solve the problem. Programs meant to aid borrowers seem to fail spectacularly, such as the public service loan forgiveness program (PSLF), under which only 1,216 out of 102,051 applications for loan forgiveness have been granted—roughly 1.2%. As borrowers look to regulators for help, the Consumer Financial Protection Bureau (CFPB) and the Department of Education (ED) have had a hard time determining which one is in charge.
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