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Biden administration cuts $2 million for student loan servicers after bungled return to repayment

Por: Portland Press Herald World January 05, 2024

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WASHINGTON — The Biden administration is docking more than $2 million in payments to student loan servicers that failed to send billing statements on time after the end of a coronavirus pandemic payment freeze. The Education Department said Friday it will withhold payments from Aidvantage, EdFinancial and Nelnet for failing to meet their contractual obligations. The servicers failed to send timely statements to more than 750,000 borrowers in... + full article



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