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Here’s How Much Citibank Student Borrowers Will Get Back

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Student loan borrowers wronged by the private lender Citibank will receive compensation ranging from $47 to $250 and the return of late fees and overpayment for those eligible. But you won’t know if you qualify until Citibank completes its repayment plans.

In late November, the Consumer Financial Protection Bureau ordered Citibank to compensate borrowers because, as it serviced loans, it charged erroneous late fees and interest; misled borrowers about minimums, leading to overpayment; didn’t provide required information to borrowers who were denied loan co-signer release; and misled borrowers about their eligibility to receive a tax deduction for interest payments.

In its order, the CFPB indicated how much affected student loan borrowers...

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