Overview
- Sen. Elizabeth Warren led five Democratic colleagues in sending letters to MOHELA, Nelnet, EdFinancial, Maximus, and CRI seeking accountability on borrower support.
- The senators requested detailed figures on customer service performance, staffing levels, loan reallocations, and borrower communications with responses due by December 22, 2025.
- Their inquiry follows policy changes tied to President Donald Trump’s recent spending law that create new repayment plans and borrowing caps, as well as the restart of collections after a five-year pause.
- Citing official data and past findings, the lawmakers noted servicer mistakes and reported that more than three in ten borrowers were delinquent as of April 2025, a 50% jump from February.
- The senators argue that Education Department layoffs and curtailed CFPB activity weaken oversight, while the department says it plans to expand the ombudsman’s office and develop a common servicing manual.