Loan Servicing Updates from ED
On Mar. 10, ED announced that the federally-owned loan transfers will continue in the months of March and April. The focus of the transfers will be to continue consolidating borrowers with multiple servicers and to transfer post-default rehabilitated loans and total and permanent disability (TPD) reinstated loans.
For further information on this topic, please contact ED at 800-433-7327 or firstname.lastname@example.org.
On Mar. 18, ED announced that during the weekly process reporting on Mar. 13 and 14, approximately 32,000 borrowers’ records were incorrectly duplicated in NSLDS and as a result, Institutional Student Information Records (ISIRs) were issued with inaccurate loan summaries and aggregate loan limits. The announcement includes information to help schools determine if their students were affected by this process.
For further information on this topic, please contact ED at 800-999-8219 or email@example.com.