January 10, 2019

ACS’s $9 million settlement in New York places a spotlight on problems in student loan servicing

ACS Education Services, a company that once managed one of the largest portfolios of student loans, will pay New York $9 million to resolve charges of steering struggling borrowers away from affordable repayment plans, state officials said Friday.

“ACS has systematically failed borrowers by refusing to educate them on more effective federal repayment options, and instead, pushing them towards options that padded their bottom line,” said New York Attorney General Letitia A. James

Read the source article at Washington Post

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