3-08: Updated Third-Party Servicer Questions and Answers
Posted Date: March 8, 2017
| Author: | Lynn Mahaffie, Acting Assistant Secretary for Postsecondary Education |
Subject: Updated Third-Party Servicer Questions and Answers
On January 9, 2015, the Department published Dear Colleague Letter GEN 15-01, which addressed institutional responsibilities and requirements for institutions that enter into contracts with third-party servicers. Dear Colleague Letter GEN 15-01 resulted in a number of questions being submitted to the Department. In response the Department published a set of Questions and Answers that were attached to Dear Colleague Letter GEN 16-15. An updated version of the set of third-party servicer Questions and Answers is attached to this announcement. There are four new questions – D&E-Q8, D&E-Q9, D&E-Q10, D&E-Q11.
We encourage institutions to review the regulations at 34 CFR 668.2 (definition of third-party servicer); 34 CFR 668.23, 668.25; and Dear Colleague Letters GEN 12-08 and GEN 15-01 for further information on third-party servicers.
Attachments/Enclosures:
Third-Party Servicer Questions and Answers in MS Word, 80KB, 25 Pages
Publication Date: 3/8/2017
