WASHINGTON — There’s been a lot of talk lately about debt.
Most of it has been about the federal debt burden. I want to shift the discussion to individuals, particularly those with private student loans. The student-loan ombudsman for the Consumer Financial Protection Bureau has just released a report analyzing complaints the watchdog agency has received from private student-loan borrowers.
Not surprisingly, the chief gripe concerned payment issues. But it’s not what you might think. Many borrowers said they encountered problems trying to pay off their debt early.
We know that student-loan debt has been rising at a troubling level. Outstanding education debt hit the $1 trillion mark in 2011. By last May, it was approaching $1.2 trillion, making student loans the second-largest form of consumer debt after home mortgages, says Rohit Chopra, the ombudsman. Full story for BostonGlobe.com subscribers.