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In return, the U.S. government has retrieved billions of dollars from student loan debtors. [1] From 1994 to 2015, according to ECMC, they returned $4.3 billion to the U.S. Treasury. [2] According to ECMC the company works to reduce student-loan default rates and provide resources to help students repay their loans, and promotes financial ...
Key takeaways. CornerStone was previously one of eight approved federal student loan servicing agencies that provided loans nationwide. Although Cornerstone was contracted to service loans through ...
Aspire was created in 2001 and received a contract from the Department of Education to service federal student loans in 2012. The company exited the contract three years later because its revenue ...
Each year Federal Student Aid's staff processes approximately 22 million FAFSAs. Additionally, Federal Student Aid is responsible for enforcing the financial aid rules and regulations required by the Higher Education Act of 1965 and the U.S. Department of Education and managing the outstanding federal student loan portfolio.
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking.Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans.
Around 44% of federal student loan borrowers who begin repayment in October have a new loan service provider, according to the Consumer Financial Protection Bureau, after three loan service ...