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(Reuters) - A Wells Fargo & Co unit will pay $4.1 million to settle allegations that it engaged in illegal private student loan servicing practices that unfairly penalized certain borrowers, the Consumer Finance Protection Bureau (CFPB) said on Monday.

Confusing Financial Aid Letters Leave Students, Parents Adrift

"Knowing exactly how much college is going to cost should be as simple as knowing how many calories there are in a slice of bread," said Sen. Al Franken of Minnesota.

President Barack Obama, "[College Possible] helps promising young people from low-income families attend college. The vast majority stay in college and earn their degrees." — President Barack Obama Remarks at 2009 White House Event

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uAspire (formerly known as ACCESS) helps students find an affordable way to - and through - a postsecondary education.

5 Ways to Cap Back-to-Campus Costs