OCC Issues New Handbook on Private Student Lending

The OCC today added a new booklet on private student lending to its Comptroller’s Handbook. The booklet provides examples of acceptable practices and policies for banks engaging in private educational lending, including in-school deferment; providing a six-month grace and extended grace periods immediately after graduation or withdrawal from school; and loan modifications for long-term hardships. The booklet also highlights the differences between federal and private student loans and includes guidance for examiners on assessing the risks associated with private student lending.

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About Author

Monica C. Meinert

Monica C. Meinert is deputy editor of the ABA Banking Journal and editorial director at the American Bankers Association, where she oversees ABA Daily Newsbytes.