education loan or contract governing the servicing. (II) Applying payments to the borrower’s account pursuant to the terms of the postsecondary education loan or the contract governing the servicing. (III) Maintaining account records for a postsecondary education loan. (IV) Communicating with a borrower regarding a postsecondary education loan on behalf of the postsecondary educational lender or servicer. (V) Interactions with a borrower, including activities to help prevent default on obligations arising from postsecondary education loans, conducted to facilitate the activities described in subclause (I) or (II) on behalf of the postsecondary educational lender or servicer. (B) Sale, transfer, or assignment If the sale, other transfer, assignment, or transfer of servicing obligations of a postsecondary education loan results in a change in the identity of the party to whom the borrower must send subsequent payments or direct any communications concerning the loan— (i) the transferor shall— (I) notify the borrower, in writing, in simple and understandable terms, not fewer than 45 days before transferring a legally enforceable right to receive payment from the borrower on such loan, of— (aa) the sale or other transfer, assignment, or transfer of servicing obligations