The transfer of student-loan accounts to the Treasury Department is moving forward.
On Friday, the Treasury released new plans to take over management of the federal defaulted student-loan portfolio.
The plans, first reported by Business Insider, include creating a new “Default Resolution Hub” intended to serve as a centralized location for borrowers to plan their steps to return to good standing. The Treasury is also seeking to partner with vendors who will facilitate collections on defaulted loans and advise borrowers on their options to leave default, according to a Treasury official.
“Transforming the way defaulted loans are serviced is the…
