CFPB Finds College Tuition Plans Predatory

The Consumer Financial Protection Bureau (CFPB) released a report on tuition payment plans offered by colleges

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[{"selector":"#anim-8496de34-c497-412f-b27c-c57bb81e3e33 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(2.343750029624811%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-3d57d437-121e-42eb-823e-bc03398bbca6","keyframes":{"transform":["translate3d(-108.85714%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-33fce0c8-d03f-41c4-b60d-85b209d6388b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2eea9d69-88de-4615-8a85-628767780531","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-15af5812-5e52-405a-ba11-fef4bd484172","keyframes":{"transform":["translate3d(116.00001%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4ce8868f-0200-4721-a97f-33a3ded123ed","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8b7957df-6a94-4b30-a60e-fe7d7a38b920","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Tuition payment plans aim to help students by spreading tuition costs over interest-free payments

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[{"selector":"#anim-7358b1e7-bf7e-4629-bfec-8d85926455f0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(2.343750029624811%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-017e5255-0763-4c54-95bd-5709ed13a59f","keyframes":{"transform":["translate3d(-108.85714%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fa2a6d03-07d8-4660-b506-1d3452d868d9","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4f5a78a1-ba4f-45b4-9877-705b78e6d625","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-f2b272c7-fb77-4c58-84c0-0f65704a56ae","keyframes":{"transform":["translate3d(121.33333%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f4da0e5b-f4cc-4094-982b-eaa95b9b39dc","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a70c85ce-adc3-4a65-9bbb-c892fe6b4795","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Missing just one payment could result in hundreds of dollars in late fees, meal plan loss, and even expulsion from classes

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[{"selector":"#anim-28be05a2-f6eb-4e1a-ad81-7f8e85445ad4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(2.343750029624811%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-1ed9385e-afad-404b-9902-fd71a493454d","keyframes":{"transform":["translate3d(-108.85714%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ac139c34-0610-4541-95b7-eb3dbc12ada1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fed518ff-ab52-4301-9d10-b6dd5d8d63ba","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-2a28e9c5-0474-4452-b2ae-38e95c228424","keyframes":{"transform":["translate3d(121.33333%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d4d1f177-8da6-4fcd-b4e3-0dacaef9225c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0405f2ab-0d37-4b53-8bda-25791f9725ce","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Some payment plans didn't disclose consequences of missed payments, putting students at risk of accumulating fees

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[{"selector":"#anim-eeb17a49-11c3-4d57-b175-fa89e342c05b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(2.343750029624811%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-1f9dd770-14da-42d8-ab2e-cbc13f6e31e9","keyframes":{"transform":["translate3d(-108.85714%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d08a82a6-e015-4086-8447-699cb30e1b76","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-926ed923-48a2-4655-97f6-e405709d0924","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-94680d86-ddbb-4479-9eb5-cf45cd366da7","keyframes":{"transform":["translate3d(121.33333%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0345fa52-c887-46bf-bd4c-89439281359b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aa2ccaa1-7988-4289-8104-14b3096fc084","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Some students were forced into payment plans if federal aid didn't cover tuition, resulting in financial difficulties

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