A controversial student-loan servicer is not renewing its contract

The Pennsylvania Higher Education Assistance Agency, a major student-loan servicer, is shutting down in December.The company administers PSLF, which denies 98% of public service workers who seek debt forgiveness.A company that handles 8.5 million Americans' student loans is shutting down after lawmakers like Elizabeth Warren accused it of misleading borrowers, lying to Congress, and failing to properly issue loan forgiveness.

The Pennsylvania Higher Education Assistance Agency notified the Education Department on Thursday that it will not extend its 12-year-old federal contract beyond December 14 of this year, asBorrowers who have applied for forgiveness in exchange for years of working as a teacher, in a nonprofit, or other public interest jobs might know PHEAA for its administration of the Public Service Loan Forgiveness program.

"It is not clear how or why you provided information that appears to be inaccurate," Warren and Kennedy wrote. She added that PHEAA should be responsible for a"swift and orderly transition" for borrowers to a new servicer. The Education Department has not yet commented on how this will impact borrowers under PHEAA.

The company's upcoming closure could suggest further hurdles the Education Department will encounter should they choose to restart payments on student loans in October. Warren

Yes called for because PSLF management so far has been

How about the processing of students cheated by UoP and the like with predatory practices and lack of promised support? Last summer over 350k denial letters were sent out ahead of a class action suit for years of no movement. They went into auto-appeal, and again people wait.

In summary, your loan is not forgiven. You still owe the money, it’s just going to someone else to manage.

How about Great Lakes?

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