Education Dept. awards debt-collection contract to company with ties to DeVos
Education Dept. awards debt-collection contract to company with ties to DeVos
By Danielle Douglas-Gabriel January 12
A company that once had financial ties to Education Secretary Betsy DeVos was one of two firms selected Thursday by the Education Department to help the agency collect overdue student loans. The deal could be worth hundreds of millions of dollars.
Performant is linked to LMF WF Portfolio, a limited liability company that once counted DeVos as an investor. LMF was one of several firms involved in providing Performant with a $147 million loan in 2012, according to regulatory filings. DeVos was required to divest from LMF within 90 days of her confirmation as secretary, but at the time of her appointment, Democrats said they were uneasy about the influence she could still wield over companies with which she has had a relationship.
https://www.washingtonpost.com/news/grade-point/wp/2018/01/11/education-dept-awards-debt-collection-contract-to-company-with-ties-to-devos/?utm_term=.88edcfc0a531
