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Written Testimony of C. Tapscott “Scott” Buchanan, Executive Director, Student Loan Servicing Alliance
Senate Hearing on “MOHELA’s Performance as a Student Loan Servicer” April 10, 2024 to address and correct false and misleading statements about servicing.
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Testimony of Winfield Crigler, Executive Director SLSA
Before the Joint Consumer Protection and
Professional Licensure Committee July 18, 2017.
Some very brief background on the student loan programs:
• SLSA opposes S129 and H2173
• Federal Loans are already extensively regulated.
• Most federal loan borrowers are successfully repaying their student loans.
• The current Department of Education compensation structure encourages servicers to do the right thing.
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Testimony of Winfield Crigler, Executive Director SLSA
There is currently $1.4 trillion in outstanding student loan debt, ($1.3 trillion) is federal loans, with more than $1 trillion owned by the U.S. Department of Education. The Department has entered into contracts with nine SLSA members to service all of its loans.
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Testimony of Winfield Crigler, Executive Director SLSA
Senate Information Hearing on “The Changing Face of Student Loan Servicing in California”
There is approximately $1.4 trillion in outstanding student loans ($1.3 trillion federal loans). More than $1 trillion (and the fastest growing piece) is made up of loans that are made and/or held by the U.S. Department of Education. I will therefore focus on federal loans in my testimony today.
