New Audit Reveals Federal Student Loan Servicers Failed to Follow Rules, Lack Accountability New Audit Reveals Federal Student Loan Servicers Failed to Follow Rules, Lack Accountability OppLoansNews BriefsStudent LoansNew Audit Reveals Federal Student Loan Servicers Failed to Follow Rules, Lack Accountability New Audit Reveals Federal Student Loan Servicers Failed to Follow Rules, Lack AccountabilityInside Subprime: March 25, 2019By Jessica EastoLast month, the US Department of Education discharged a review of Federal Student Aid's (FSA) oversight of credit servicers, the organizations that oversee governmentally held understudy advances and gather installments from borrowers. The review found that, in a few cases, understudy credit servicers were not following government guidelines and that the FSA didn't consider them responsible for rebelliousness. Among different discoveries, the report presumed that servicers didn't in every case appropriately ascertain borrowers' reimbursement plans or regularly scheduled payments.
