Glickman said Federal Student Aid has a team of technical experts on site at ACS to ensure that the problem is fixed. ACS has agreed to offer credit services to the borrowers affected as long as necessary but for a minimum of one year, she said.

Glickman said the software upgrade went live on Sunday, Aug. 20, at 9:16 p.m., EST. The first three Web pages believed to be affected by the software error were disabled on Monday at 1:09 p.m.

"Ongoing analysis identified the exact software error, and three additional Web pages were identified to be impacted by the software error," she said. "These three additional Web pages were disabled on Tuesday ... at 10:16 a.m."