The U.S. Department of Education says there’s very little evidence that active-duty servicemembers are being charged unlawfully high interest rates on federally guaranteed student loans.

A review of the four biggest servicers, Navient Solutions, Great Lakes Higher Education Corp., Pennsylvania Higher Education Assistance Agency, and Nelnet, found that they complied with the Servicemembers Civil Relief Act (SCRA) in the vast majority of cases: less than 1% of servicemembers who qualified for a rate reduction when they were called to active duty from 2009-2014 were denied one. The Servicemembers Civil Relief Act caps the interest rate for such borrowers at 6%.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.