In this report, the National Association of Student Financial Aid Administrators (NASFAA) seeks to fill the gaps in the conversation by providing thoughtful, systemic, and targeted policy solutions to address underlying flaws in the student loan repayment and servicing systems that lead borrowers into financial hardship. The report outlines recommendations to improve student loan servicing practices, rethink the terms and conditions of student loan repayment, increase institutional and program accountability, and reform student loan default. As part of this work, NASFAA formed a coalition of 21 associations, organizations, and think tanks from the higher education policy, advocacy, and research community to assist in the development of these recommendations. While there is still more work to be done, these recommendations seek to transform the student loan system in a holistic way. NASFAA looks forward to working with lawmakers and the higher education community to further explore and strengthen these proposals as we work toward achieving an improved student loan system for all borrowers.