A "faulty" transfer of student loan accounts from Nelnet to Mohela in 2023 led to "millions of consumer credit reporting errors," lawmakers say in a new letter to government agencies reviewed by CNBC.
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What Happens If Your Student Loan Servicer Changes?
The Department of Education issues Federal loans to students, but it doesn’t work with borrowers directly. Instead, it hires outside loan servicers to shoulder the administrative burden of educational ...
The change in loan servicers caused nearly 2 million duplicate student loan records to appear on borrowers' credit reports, while hundreds of thousands of borrowers' credit scores were reported ...
A “faulty” transfer of student loan accounts from Nelnet to Mohela in 2023 led to “millions of consumer credit reporting errors,” lawmakers say in a new letter to government agencies reviewed by CNBC.
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