The U.S. Department of Education’s review of whether its student loan servicers overcharged military personnel was flawed and officials misrepresented its findings to the public, said the agency’s independent watchdog.
The department’s inquiry concluded last year that its four main loan servicers, including Navient, mostly followed the federal law requiring them to cap the interest rates of active-duty military service members.
But on Tuesday, a report by the department’s inspector general said that the department’s methods for reaching that conclusion were flawed. The report cited inadequate samples of loans and a faulty methodology for determining whether the loan servicers complied with the law.
Read more at Inside Higher Ed: https://www.insidehighered.com/news/2016/03/02/watchdog-us-conducted-flawed-review-loan-servicers-and-misrepresented-findings
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