Buckle Up, More Student Loan Servicing Changes Are Coming

The Biden administration announced new student loan servicing contracts this week. These servicing contractors will administer the federal student aid system, including student loan forgiveness and repayment programs, on behalf of the Education Department.

The announcement comes as millions of borrowers are still contending with ongoing student loan servicing upheavals. But the changes are just one part of a larger effort across multiple administrations to make student loan servicing smoother and more centralized.