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Democrats Question Student Loan Company Execs


Two House Democrats are sending letters today to four of the largest student loan servicing companies, seeking information about their policies and procedures for collecting. Reps. Emanuel Cleaver of Missouri and Pramila Jayapal of Washington say they`re concerned about "the rising rate of student loan defaults and continuous claims of fraudulent practices in lending, servicing, and collecting" of student loans. The two lawmakers urged the companies to take steps to improve customer service and focus more attention on "high risk" borrowers. Read the letters they sent to the leaders of Navient, Nelnet, Great Lakes and FedLoan Servicing.


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