Warren, Senators Press Major Credit Reporting Companies on Plans to Address Credit Errors for Student Loan Borrowers

Warren, Senators Press Major Credit Reporting Companies on Plans to Address Credit Errors for Student Loan Borrowers

Text of Letter (PDF)

Washington, D.C. - U.S. Senator Elizabeth Warren (D-Mass.) led Senators Richard Blumenthal (D-Conn.), Tammy Duckworth (D-Ill.), Mazie Hirono (D-Hawaii), Chris Van Hollen (D-Md.), Jeff Merkley (D-Ore.), and Ron Wyden (D-Ore.) in questioning Experian, TransUnion, and Equifax on the companies' plans to prevent student loan credit reporting errors from harming borrowers amid the Trump administration's illegal attempts to shut down the Department of Education (ED).

"Given that federal student loan servicers have systematically reported inaccurate data to credit reporting companies in the past, and that the dismantling of the Department of Education has vastly reduced federal oversight over servicers, we are concerned that servicers may be failing to report fully accurate data to your companies," wrote the lawmakers.

The Fair Credit Reporting Act (FCRA) requires credit reporting companies to take steps to ensure that inaccurate data, like misreported defaults or delinquencies, do not appear on credit reports or affect a borrower's credit score. However, due in part to credit reporting companies' patterns of negligence, at least one in five credit reports contain errors. Borrowers with incorrectly low credit scores may be denied access to mortgages, rental opportunities, credit cards, auto loans, or even employment opportunities.

In 2024, a Congressional investigation revealed that credit bureaus had generated incorrect credit scores for hundreds of thousands of borrowers after processing inaccurate data from student loan servicers. Similarly, in 2020, servicers reported incorrect repayment statuses for tens of thousands of borrowers to credit bureaus.

The lawmakers warned that because of the Trump administration's cuts to ED staff responsible for overseeing student loan servicers, "the risk that servicers may again supply credit reporting companies with inaccurate data appears higher than ever."

In addition, credit reporting companies appear to be taking advantage of the Trump administration's decimation of the Consumer Financial Protection Bureau, which is responsible for protecting consumers from credit reporting errors. Two of the three major credit reporting companies have been resolving drastically fewer complaints about errors than they had in prior years. For example, Experian resolved less than 1% of complaints in consumers' favor in 2025, compared to about 20% in 2024.

"We urge you to institute rigorous safeguards against credit reporting errors that could financially harm borrowers, including vigorous monitoring, oversight, and auditing of student loan servicers," concluded the lawmakers.

The senators also asked the three credit reporting companies not to incorporate inaccurate data into borrowers' credit reports and requested that they respond to questions about how they will protect borrowers from student loan credit reporting errors by June 30, 2026.

Senator Warren has led the fight to make our higher education system more affordable, cancel student loan debt, and hold student loan servicers accountable for incompetence and malfeasance. She launched the Save Our Schools campaign in a coordinated effort to fight back against President Trump's attempts to abolish the Department of Education:

• On June 8, 2026, Senators Warren and Jeff Merkley (D-Ore.), along with Representatives Ayanna Pressley (D-Mass.) and André Carson (D-Ind.), led 62 members of Congress in pressing the Department of Education to immediately address the largest student loan default and delinquency crisis on record, which has been made worse by the Trump administration's policies.
• On May 28, 2026, in response to a request from U.S. Senator Elizabeth Warren (D-Mass.), the Government Accountability Office (GAO), an independent government watchdog, confirmed the expansion of its investigation into the Department of Education's (ED) transfer of critical programs to other agencies through interagency agreements (IAAs), including the transfer of student loan default collections to the Department of the Treasury. GAO previously confirmed it had initiated an investigation into ED's transfer of grant programs for career and technical education and adult education to the Department of Labor.
• On May 21, 2026, Senator Elizabeth Warren (D-Mass.) asked the Government Accountability Office (GAO) to open a new investigation into whether the Trump administration's dismantling of the Department of Education (ED) is harming ED's ability to root out waste, fraud, and abuse of Title IV financial aid funds.
• On May 4, 2026, Senator Warren (D-Mass.) released new responses from the Department of Education (ED) and the Treasury Department (Treasury) demonstrating that the agencies cannot articulate a clear purpose or plan for implementing their illegal interagency agreement (IAA) transferring the administration of federal student loans to Treasury.
• On April 28, 2026, Senators Warren (D-Mass.) and Sanders (I-Vt.) pressed the Consumer Financial Protection Bureau's (CFPB) Student Loan Ombudsman, Geoffrey Gradler, on his plan to protect student loan borrowers, especially given his past censorship of a key student loan report at the CFPB and his background as a lobbyist for lenders.
• On April 17, 2026, Senator Warren led 31 senators in a letter to the Chair and Ranking Member of the Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies, urging them to provide "the highest possible amount of funding" to the Office of Federal Student Aid in fiscal year 2027.
• On April 2, 2026, Senators Elizabeth Warren, Bernie Sanders, Ron Wyden, Patty Murray, and Tammy Baldwin - all top Democrats on influential education committees - pressed Secretary of Education Linda McMahon and Secretary of the Treasury Scott Bessent to rescind their plans to move the administration of federal student loans to the Treasury Department.
• On March 11, 2026, following a request from Senator Warren (D-Mass.), the Government Accountability Office, an independent government watchdog, opened an investigation into the Department of Education's transfer of grant programs to the Department of Labor.
• On February 23, 2026, Senators Warren (D-Mass.) and Sanders (I-Vt.), along with Representative Ayanna Pressley (D-Mass.), released a response from the Department of Education (ED) to their November letter regarding a potential sale of the federal student debt portfolio. In the response, ED confirms for the first time publicly that they are weighing a sale of the federal student loan portfolio.
• On February 19, 2026, Senator Warren led members of Congress urging the nonpartisan Government Accountability Office to open an investigation into the Department of Education's (ED) transfer of grant programs to agencies with no expertise in education policy, such as the Department of Labor.
• On February 19, 2026, Senators Elizabeth Warren (D-Mass.) and Jeff Merkley (D-Ore.) pushed Education Secretary Linda McMahon on concerns that the U.S. Department of Education is apparently obstructing Congressional efforts to hold federal student loan servicers accountable for underperformance.
• On February 2, 2026, Senator Warren released a new report revealing the findings of their investigation into how private student loan lenders will reap the benefits from cuts to federal student loan access enacted in Republicans' Big, Beautiful Bill (OBBBA). The report is the first Congressional analysis of the impacts of the OBBBA's student loan restrictions on the private lending market.
• On January 22, 2026, Senators Elizabeth Warren, Jeff Merkley (D-Ore.), Sheldon Whitehouse (D-R.I.), and Tim Kaine (D-Va.) led their Senate colleagues in demanding answers from Trump Education Secretary Linda McMahon about the Trump Administration's proposal to eliminate affordable student loan repayment options for millions of Americans.
• On December 8, 2025, Senator Warren led her colleagues in writing to the federal student loan servicers to ensure they are providing borrowers with the customer service they deserve in the wake of the Trump administration's student loan policy whiplash. The senators sent letters to MOHELA, Nelnet, EdFinancial, Maximus, and CRI.
• On December 1, 2025, Senator Warren published an op-ed in USA Today calling for Secretary of Education Linda McMahon to resign following the recent news that President Trump and Secretary McMahon plan to further dismantle the Department of Education (ED).
• On November 24, 2025, Senator Warren pushed for an expanded investigation into the Trump administration's attempts to dismantle ED and whether its recent decision to transfer many of ED's responsibilities to four other agencies violates federal law.
• On November 17, 2025, Senator Warren led over 40 of her colleagues in a letter urging Secretary of Education Linda McMahon and Secretary of the Treasury Scott Bessent to immediately end any plans to sell or transfer the federal student loan portfolio to the private market.
• On November 10, 2025, Senator Warren led her colleagues in a letter urging the Trump administration to use the IRS's existing legal authorities to stop the looming "tax bomb" facing borrowers who obtain income-driven repayment (IDR) discharges of their student loan debt.
• On October 15, 2025, Senator Warren and Representative Ayanna Pressley (D-Mass.) led 70 members of Congress in a letter calling on the Trump administration to address the ongoing and unprecedented wave of student loan delinquencies and defaults, which threatens the financial stability of millions of people and could have disastrous effects on the American economy.
• On September 19, 2025, following a push by Senator Warren and nine other senators, the Acting Inspector General of the U.S. Department of Education agreed to open an investigation into DOGE's infiltration of internal systems, including the scope of its access to sensitive student loan borrower information and its impact on borrowers' rights and privacy.
• On August 26, 2025, Senator Warren led colleagues in sending a follow-up letter to Education Secretary Linda McMahon condemning the Department of Education for deliberately hiding the "Submit a Complaint" button on the Office of Federal Student Aid's website, firing employees responsible for providing customer service to borrowers and families and misleading Congress about the scope of these firings.
• On August 7, 2025, Senator Warren publicly released Secretary of Education Linda McMahon's response to the senator's 60+ questions and pressed for additional information. Senator Warren announced that she would refer certain matters where the Department has proved uncooperative to the Government Accountability Office and the Education Department's Inspector General.
• On August 4, 2025, Senator Warren led eight Senators in pressing major private student loan lenders on their plans to serve the incoming surge of borrowers who will be pushed to the industry because of Republicans' recently passed "Big, Beautiful Bill."
• On July 17, 2025, Senator Warren released a new 23-page report, "Education At Risk: Frontline Impacts of Trump's War on Students," highlighting warnings from 11 major national education and civil rights organizations on the impact of the Trump Administration's dismantling of the Department of Education (ED), slashing support to millions of American students, primary and secondary school teachers, administrators, parents, and student loan borrowers.
• On July 15, 2025, Senators Warren and Sanders, along with Senate Democratic Leader Chuck Schumer, sent a letter to Secretary of Education Linda McMahon, urging her to reverse the interest hike on student loan borrowers in the SAVE forbearance.
• On July 14, 2025, Senator Warren joined a letter to the director of the Office of Management and Budget, Russ Vought, and Secretary of Education, Linda McMahon, demanding that the Department of Education stop blocking nearly $7 billion in funds for K-12 schools, including for afterschool programs.
• On July 3, 2025, Senator Warren led her colleagues in submitting an amicus brief for NAACP v. US, arguing to the United States District Court District of Maryland that President Trump's attempts to dismantle the Department of Education violate separation of powers and lack constitutional authority.
• On June 10, 2025, Senator Warren met with Secretary of Education Linda McMahon and delivered over 1,000 letters to McMahon that the senator had received from people in all 50 states who were worried about the Secretary's efforts to dismantle the Department of Education.
• On June 9, 2025, Senator Warren led her colleagues in pushing the Acting Inspector General of the Department of Education to open an investigation into new information obtained by her office, revealing that DOGE may have gained access to two FSA internal systems, in addition to sensitive borrower data.
• On May 20, 2025, Senator Warren and 27 other senators pushed for full funding for the Office of Federal Student Aid.
• On May 14, 2025, Senator Warren led a Senate forum entitled "Stealing the American Dream: How Trump and Republicans Are Raising Education Costs for Families," highlighting the consequences of Secretary Linda McMahon's reckless dismantling of the Department of Education and President Trump's "big, beautiful bill" for working- and middle-class students and borrowers.
• On May 13, 2025, Senator Warren agreed to meet with Education Secretary Linda McMahon and promised to bring questions and stories from Americans across the country to highlight how the Trump administration's attacks on education are hurting American families.
• On May 6, 2025, Senator Elizabeth Warren highlighted the consequences of President Trump and Secretary Linda McMahon's reckless dismantling of the Department of Education for American families in a Senate forum.
• On April 24, 2025, Senator Warren launched a new investigation into the harms of President Trump's attacks on the Department of Education, seeking information on the impact of the Trump administration's actions from the members of twelve leading organizations representing schools, parents, teachers, students, borrowers, and researchers.
• On April 10, 2025, following a request led by Senator Warren, the Department of Education's Acting Inspector General agreed to open an investigation into the Trump administration's attempts to dismantle the Department of Education.
• On April 2, 2025, Senators Elizabeth Warren and Mazie Hirono, along with Senate Democratic Leader Chuck Schumer, sent a letter to Secretary of Education Linda McMahon regarding the Department of Government Efficiency's proposed plan to replace the Department of Education's federal student aid call centers with generative artificial intelligence chatbots.

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