DeVos rescinds Obama-era directives cracking down on federal student loan servicers

Amy Scott Apr 13, 2017
HTML EMBED:
COPY

DeVos rescinds Obama-era directives cracking down on federal student loan servicers

Amy Scott Apr 13, 2017
HTML EMBED:
COPY

If you are one of the 42 million people out there with federal student loans, you have surely come into contact with a loan servicer. That is a company or nonprofit paid by the federal government to collect your payments and handle any problems with the loan — the name Navient may ring a bell. One of the last moves of the Obama administration was to sue the company for allegedly cheating borrowers and making it harder for them to repay their loans. This week, Education Secretary Betsy DeVos withdrew several Obama-era policies aimed at cleaning up the industry.

Click the audio player above to hear the full story.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.