On the recordDecember 17, 2013
I rise to enter into a colloquy with the chairman of the Budget Committee, Senator Murray, and several of my colleagues regarding the not-for-profit student loan servicing provisions in the Bipartisan Budget Act of 2013. Is it your understanding and intent that the not-for-profit servicing provision in this act does not require the termination of the existing Federal loan servicing contracts of any not-for-profit servicers who are currently servicing Federal loans? Is it further the understanding and intent of the chairman of the Senate Budget Committee that the Education Department will continue to enter into contracts with not-for-profit servicers based on their performance?
