Student Loan Servicing Failures: Obama Administration Explores Regulations To Protect Borrowers

Lorie White works for a nonprofit in New York state that helps families in poverty. Last winter, however, she had her own financial troubles. With $76,000 in debt from obtaining a bachelor's degree and a master's in art therapy, she says an income-based repayment plan had been helping her manage a monthly budget. But last winter, she saw that nearly $800 was debited from her account instead of the usual $30.