The Education Department stunned the higher ed world in February when it said it intended to vastly expand what it considers a third-party servicer, which are subject to more stringent regulatory requirements, like compliance auditing.
The policy drew so much concern and questions from colleges that the Education Department postponed in May when it would take effect, until Sept. 1.
Kvaal said in his public message Tuesday that the department received more than 1,000 comments weighing in on the guidance. Many colleges and companies have already started reviewing contracts to make sure they comply with it, he said.
