General World News

INTERVIEW: Elizabeth Warren puts student-loan servicers on notice. The ‘days are over’ when they could do ‘a terrible job.’

elizabeth warren

Summary List Placement

Over the span of just two weeks this July, two different student loan companies shut down their services. Good, says Massachusetts Sen. Elizabeth Warren, who is holding a Senate hearing on Tuesday to discuss how to best protect borrowers as they transition to new servicers. She told Insider that other companies should consider it a warning.

“The world has changed for student loan debt servicers,” Warren said. “They can’t sign a contract, do a lousy job, cost borrowers tons of money, and still get their contracts renewed.”

In the first two weeks of July, close to 10 million borrowers were left in limbo after the Pennsylvania Higher Education details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com