Senators Request Audit of Student Loan Payment Resumption Issues, Citing Borrower Protection Concerns
• Sen. Warren and other senators sent a letter to the Department of Education raising concerns about the return to student loan payments, including potential errors and credit score impacts.
• They requested an audit on the number of borrowers who missed October payments and oversight details.
• Issues have included long customer service wait times, incorrect billing amounts, and delays sending bills for over 2 million borrowers.
• The letter worries bureaucratic complexities could undermine protections like the 1-year on-ramp before reporting missed payments.
• It notes similar previous errors, like some borrowers still facing collections during the payment pause, as causes for concern.