EDUCATION DEPARTMENT REVAMPING STUDENT AID OFFICE TO BOOST CONSUMER EDUCATION
The Education Department announced Friday that it is expanding the role of its student loan complaint office to also focus on consumer education. The office, previously known as the Office of the Ombudsman, will be renamed the Office of Consumer Education and Ombudsman. According to the Department, in addition to resolving borrower complaints, it will now provide guidance on loan repayment, use data to inform decisions and offer resources to help borrowers navigate the student aid system. The office is also tasked with developing a common manual for student loan servicers to “ensure servicers and collectors provide accurate, timely, and reliable information to all borrowers,” the agency said.
