Tuesday, August 1, 2017

Government may reverse decision on student loan servicing

August 01, 2017 at 06:03PM

WASHINGTON (AP) — The Education Department says it may reconsider its decision to move the servicing of $1.3 trillion in federal student loans to a single provider.

The department announced Tuesday that while student borrowers will have access to a single user platform, backend customer services could be provided by either one or multiple contractors.

The department had said in May that it would be switching to a single contractor.

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