As part of a joint investigation by the Student Borrower Protection Center and the American Federation of Teachers, a new report exposes millions of student loan servicing errors in the Public Service Loan Forgiveness (PSLF) program. The report reveals new abuses by Affiliated Computer Services (ACS), a notoriously shoddy company that once managed the largest portfolio of student loans made directly by the federal government. The report identifies over five million new ACS servicing errors that contributed significantly to the PSLF program’s failures and derailed promised loan forgiveness for hundreds of thousands of borrowers. These failures continue to plague public service workers seeking access to loan forgiveness today.
The new report includes recommendations to obtain justice for borrowers harmed by ACS’s errors and to strengthen accountability for student loan companies as part of a broader effort to restore the promise of the PSLF program.
Read the Report: Broken Promises: The Untold Failures of ACS Servicing