Tasked with addressing disputes between students and loan servicers, the Office of Consumer Education and Ombudsman, formerly known as the Financial Student Aid’s Ombudsman Office, is rebranding and expanding. As part of the U.S. Department of Education’s efforts to increase financial literacy of borrowing students and their families, new borrower tools and accessible guideline measures on student loans and repayments are being developed. The FSA also aims to establish a standard manual for servicers that strives to address borrower complaints and “systemic issues” while establishing a set of standards to be followed by student loan servicers.
