Private Student Lending Guidance

moneyThe Office of Comptroller of the Currency (OCC) added a new booklet on private student lending to its Comptroller’s Handbook. The booklet provides examples of acceptable practices and policies for banks engaging in private educational lending, including in-school deferment; providing a six-month grace and extended grace periods immediately after graduation or withdrawal from school; and loan modifications for long-term hardships.

The booklet also highlights the differences between federal and private student loans and includes guidance for examiners on assessing the risks associated with private student lending. Read the booklet here.

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