Statement by the Federal Director of Aid to the Student Director of Operations Rich Cordray with respect to Loan Managers September 28, 2021 Contact: Press Office, (202) 401-1576, Press@ed.gov
  • "Federal Student Aid has been monitoring the contract negotiations between NAVIENT And Maximus for some time and is now considering a formal proposal for Maximus to assume the navigative contract with the FSA to the student loans of the Department of Services. This substitution, called "Novation," by law, requires the approval of FSA.

    FSA is reviewing the documents and other information from Navient and Maximus to ensure that the proposal complies with all legal requirements and properly protects borrowers and taxpayers.

    we keep compromised to make sure that E Our Federal Student Loan Services Agreements provide more responsibility, significant performance measures and better service for borrowers. FSA hopes to work with administrators C was proposed to meet these requirements, as they do the important work to serve more than 40 million federal student loans. "

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