Democrats are urging Education Secretary Betsy DeVos to take “immediate and aggressive action” against a student loan company that incorrectly dinged the credit reports of nearly 5 million borrowers whose payments were automatically suspended under the CARES Act.
POLITICO first reported last week that the Trump administration was rushing to fix errors made by Great Lakes Educational Loan Services in how the company reported information about federal student loan borrowers to credit bureaus. The errors lowered borrowers’ credit scores in some cases.
Six Senate Democrats, led by Sen. Elizabeth Warren, on Thursday wrote to DeVos that the Education Department should “take immediate action to fully remedy this issue, hold Great Lakes accountable for this inexcusable blunder, and provide Congress with a detailed accounting of how this breakdown occurred.”