§ 1088.
(c)
Third party servicer
For purposes of this subchapter, the term “third party servicer” means any individual, any State, or any private, for-profit or nonprofit organization, which enters into a contract with—
(1)
any eligible institution of higher education to administer, through either manual or automated processing, any aspect of such institution’s student assistance programs under this subchapter; or
(2)
any guaranty agency, or any eligible lender, to administer, through either manual or automated processing, any aspect of such guaranty agency’s or lender’s student loan programs under part B of this subchapter, including originating, guaranteeing, monitoring, processing, servicing, or collecting loans.
([Pub. L. 89–329, title IV, § 481], as added [Pub. L. 99–498, title IV, § 407(a)], Oct. 17, 1986, [100 Stat. 1476]; amended [Pub. L. 100–50, § 15(1)], June 3, 1987, [101 Stat. 355]; [Pub. L. 101–239, title II, § 2007(b)], (c), Dec. 19, 1989, [103 Stat. 2120], 2121; [Pub. L. 101–508, title III, § 3005(b)], Nov. 5, 1990, [104 Stat. 1388–28]; [Pub. L. 102–26, § 2(a)(2)], (3), (d)(2)(A), Apr. 9, 1991, [105 Stat. 123], 124; [Pub. L. 102–325, title IV, § 481], July 23, 1992, [106 Stat. 609]; [Pub. L. 103–208, § 2(h)(1)]–(6), Dec. 20, 1993, [107 Stat. 2475], 2476; [Pub. L. 105–216, § 12], July 29, 1998, [112 Stat. 908]; [Pub. L. 105–244, title I, § 101(c)], Oct. 7, 1998, [112 Stat. 1617]; [Pub. L. 109–171, title VIII], §§ 8007(d), 8020(a), (b), Feb. 8, 2006, [120 Stat. 161], 177; [Pub. L. 110–315, title IV, § 481], Aug. 14, 2008, [122 Stat. 3271]; [Pub. L. 111–39, title IV, § 407(b)(1)], July 1, 2009, [123 Stat. 1950]; [Pub. L. 114–95, title IX, § 9215](oo)(10), Dec. 10, 2015, [129 Stat. 2180].)