11-21: Loan Servicing Information – First Quarter's Customer Service Performance Results
Per the contractual agreement with each of our federal loan servicers, the Department of Education (the Department) will annually measure servicer performance in the areas of customer satisfaction and default prevention. We will then use these results to determine each servicer’s allocation of future loan volume when applicable. This announcement is intended to share the customer service performance results for the first quarter (ending September 30, 2012) with the financial aid community. The Department measured customer satisfaction with each of the federal loan servicers exclusively through independently administered customer satisfaction surveys. We assessed default prevention through analysis of each servicer’s portfolio.