$1.77 trillion in outstanding US student loan debt
Source: Federal Reserve / Dept of Education · 2024
Student loan servicers have faced sustained regulatory scrutiny. The CFPB has taken enforcement action against multiple servicers for misapplying payments and giving incorrect repayment information.
Student loans Complaint Rates
CFPB complaints about student loan servicers — repayment plans, income-driven repayment, PSLF and forgiveness processing, ranked per 1,000 borrowers.
How to read this table: Ranked from worst (most complaints) at the top to best (fewest complaints) at the bottom. Hover column headers for metric explanations.
| # | Institution | Complaint Rate ⓘ | Total Complaints ⓘ | Replied in Time ⓘ | Risk Level ⓘ |
|---|---|---|---|---|---|
| 1 | KEYCORP VIEW PROFILE → | 0.03/1k | 495 | 100% | Low Risk |
| 2 | WELLS FARGO & COMPANY VIEW PROFILE → | 0.01/1k | 1,895 | 98% | Low Risk |
| 3 | CITIBANK, N.A. VIEW PROFILE → | 0.005/1k | 732 | 97% | Low Risk |
| 4 | JPMORGAN CHASE & CO. VIEW PROFILE → | 0.003/1k | 874 | 100% | Low Risk |
The student loan servicing market has a documented history of administrative errors that cost borrowers money. A high complaint rate in this category is a meaningful signal. Read our full methodology →
A bad student loan servicer can silently cost you years of progress toward loan forgiveness.
If you have private student loans, refinancing to a top-rated servicer can cut your rate by 2-3%. If you have federal loans on a forgiveness track, do not refinance - but do check your servicer's complaint rate to know what to watch for. The best-rated alternative in this category has a complaint rate 3× lower than the highest-rate institution shown.
Rate = CFPB complaints ÷ estimated customers × 1,000 · Source: CFPB + FDIC BankFind · Data & pricing