The Education Department has announced a single website portal for student loan servicing

The Education Department (ED) recently announced that it plans to streamline student-loan repayment by introducing a single web portal for borrowers

What this means for your students once it comes to fruition:

* The new website will allow borrowers to find information about their loans, payments, and benefits on one website.

* There will be better customer service for borrowers as their will be one universal platform for federal student loans.

* Borrowers will log onto one website to make loan payments instead of navigating various loan servicers websites

* Servicers will have to use ED branding rather than their own logos when communicating with loan borrowers

* ED plans to direct how loan servicers must interact with their borrowers

* ED promises enhanced oversight and accountability so all borrowers are treated fairly and equally

The ED’s announcement and blog about this can be found here: A New Vision for Serving Student Loan Borrowers