July 27, 2021

Business Insider: Interview: Elizabeth Warren puts student-loan servicers on notice. The 'days are over' when they could do 'a terrible job.'

Over the span of two weeks this July, two student-loan companies shut down their services. Good, said 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."


Read the full story here.

By:  Ayelet Sheffey
Source: Business Insider