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What colleges need to know about problems with student loan servicing

October 25, 2022

The Consumer Financial Protection Bureau has turned a critical eye toward higher education’s monetary ecosystem recently.

This month, it scrutinized the deals colleges strike with banks. But it’s been investigating other aspects of the sector as well.

That follows a September publication about student loan servicers — companies that administer federal student loans. The document paints a picture of an industry where deceptive and abusive practices have been common, and where borrowers may not get the debt relief to which they’re entitled.

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