New York Launches Student Lending Resource Center

Student Lending NYDFS

On March 13, the New York DFS launched a new website to provide student borrowers with information about (i) the types of financial aid available; (ii) what to do in the event of default; (iii) “how to avoid unnecessary or unfair fees when opening a bank account at school”; and (iv) the tax credits and deductions available for education expenses. The website also includes a link to the DFS’s consumer complaint portal to allow borrowers to file complaints about “student-related” financial products or services. The website was launched as part of the state’s Student Protection Unit announced in January 2014.