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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.”
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