The Education Department got hit from all sides at a congressional hearing on Wednesday, with lawmakers, advocates, and investigators alike accusing the agency of everything from lax oversight to poor customer service. Their target was the department’s Office of Federal Student Aid, or FSA, the semiautonomous division charged with awarding billions of dollars in student grants and loans, and overseeing the thousands of contractors and colleges that deliver and manage that money. With a loan portfolio of more than $1.2 trillion, FSA is, as the department’s inspector general noted on Wednesday, "one of the largest financial institutions in the country."

November 19, 2015 ・ From Chronicle of Higher Education