| Description |
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- An institution may enter into a contract with a third-party servicer for the administration of any aspect of the institution's participation in any Title IV program only to the extent that the servicer's eligibility to contract with the institution has not been limited, suspended, or terminated under financial aid regulations.
- An institution must notify the Department of Education whenever: (1) it enters into a new contract or significantly modifies an existing contract with a third-party servicer to administer any aspect of a Title IV program; (2) it terminates such a contract; or (3) the third-party servicer stops providing services or goes out of business.
- Upon request, an institution must provide a copy of its contracts with third-party servicers to the Department of Education.
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| Contacts and Data Sources |
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| Mike Rotundo and Christine Larson |
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| Internal Notes |
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| This compliance item has notes that are available internally to the oversight unit. Please contact the Risk Management Department for more information |
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