Trump to offer exclusive contract to service U.S. student loans

President Donald Trump’s administration will soon offer an exclusive contract that will give one company the right to service billions of dollars of outstanding federal student loans now handled by four companies, officials said on Friday. The U.S. Education Department, led by Trump pick Betsy DeVos, said the streamlining will save money and increase efficiency. The Trump approach would represent one more radical change for the financial aid system that former President Barack Obama overhauled.

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