United Education & Software in Encino said...

United Education & Software in Encino said it “will incur significant costs” to fix problems in its student-loan processing business that were confirmed in an audit conducted by the U.S. Department of Education and private student-loan agencies. But UES, in its quarterly financial report to the Securities and Exchange Commission, did not provide a dollar estimate of the costs. UES processes about $1 billion of student loans but in recent months, thousands of loans handled by UES were found to have incomplete or false documentation. UES previously blamed the problems on a change in its computer software.