NYDFS issues RFI on private student loan refinance


November 8, NYDFS Posted a Request for Information (RFI) to student loan advocates, lenders, regulators, utilities, and other stakeholders seeking information regarding private student loan refinancing in New York. The Private Student Loan Refinancing Task Force, tasked with “studying[ing] and analysis[ing] how lending institutions that provide non-federal student loans to students at New York institutions of higher learning can be enticed and encouraged to create student loan refinancing programs,” issued questions seeking information from parties stakeholders to inform a future report. According to the announcement, the task force is seeking answers to questions regarding the private sector refinancing of student loans. Questions include, among others: (i) “What options are available to student borrowers to refinance private student loans both in New York State and out of state? » ; (ii) “What options are available to student borrowers to refinance federal student loans both in New York State and out of state?” ; (iii) “What is the volume of refinanced private student loans, the terms of borrowers’ previous loans, the terms of borrowers’ refinance loans, the unmet need for student loan refinance, and the impact of these refinance loans on New York and nationally?”; (iv) “What is the volume of refinanced federal student loans, borrowers’ previous loan terms, borrowers’ refinance loan terms, unmet need for loan refinance students and the impact of these refinance loans in New York and nationwide? » ; and (v) “What publicly available data should the working group consider?” Are there any private data that could be made available to the working group? Responses are expected by December 8.

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