Federal Student Aid (FSA) did not establish policies and procedures to mitigate the risk of noncompliance for servicing federally held student loans, according to a final audit report by the U.S. Department of Education’s (DOE) Office of Inspector General (OIG).
The DOE is asking FSA to develop a final corrective action plan to address the issues by March 13.
Read on for reaction from FSA, which argues the report is unfairly negative of its oversight efforts.
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