Withholding College Transcripts for Loan Payment Is ‘Abusive,’ Agency Says

Colleges that lend directly to their students cannot later refuse to release a student’s transcript as a way of forcing them to make loan payments, the Consumer Financial Protection Board on Thursday, calling the practice “abusive” and a violation of federal law. The loans made directly by a college, rather than a traditional lender, are used to pay for classes, but they don’t come with the same protections as federal student loans do.... + full article