Ben Miller, Senior Director of Postsecondary Education at the Center for American Progress explains the role of Direct Loan servicers, the relationship between servicers and the U.S. Department of Education and the assistance servicers provide in helping borrowers manage and pay back their student loans.
|How loan servicers help borrowers manage repayment of their loans (1:08)|
|The role of the federal government in student loan servicing (:42)|
|Companies that service student loans and how they were selected (2:38)|
|The roles and responsibilities of loan servicers (2:38)|
|Explaining loan default and tools servicers use to help borrowers prevent defaults (1:06)|
|The Department’s rules for assigning loans to servicers (11:54)|