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WHP580 Newsroom

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Department Of Education Withholds Payments To Student Loan Servicer

Department Of Education Withholds Payments To Student Loan Servicer

(Washington, DC) -- The Department of Education is withholding payments to a student loan servicer over billing statement errors. According to the Education Department, the Missouri Higher Education Loan Authority failed to meet its basic obligation of getting out statements in a reasonable timeframe. That ended in two-and-a-half million borrowers receiving late statements, in some cases just days before payment was due. More than 800-thousand were put into delinquency status as a result.


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