The decision happens once the company overhauls the treatment of the $step one.6 trillion student loan collection, a repayment and you will collection program you to definitely liberal lawmakers and you will advocates say try improperly manage.

Repair companies instance PHEAA, Navient and you will Nelnet was basically implicated out of bringing inaccurate advice and you can faulty commission control and you can mishandling documentation. Brand new contractors reject those people charge and you will say maintenance troubles are grounded in the convoluted model of new commission system.

"From the several years because the PHEAA recognized the fresh regards to their federal repair bargain, the fresh government financing apps, as the addressed because of the U.S.