Last Updated on by Admin
Learn about the function of student loan servicers in the repayment process and how to determine which servicer is in charge of your federal student loans. What is the name of my student loan servicer? Findout below.
What are the responsibilities of loan servicers?
A loan servicer is a company that we hire to manage your federal student loan billing and other services on our behalf at no cost to you. Your loan servicer will assist you with repayment alternatives (such as income-driven repayment plans and loan consolidation) as well as other federal student loan-related responsibilities.
Keep your contact information current so that your loan servicer can assist you in staying on track with your loan repayments. Your loan servicer will be ready to assist you if your circumstances change at any point during your repayment period.
What is the name of my student loan servicer? Findout
Assignment of a Loan Servicer
After your loan has been disbursed for the first time, we will allocate it to a loan servicer (paid out). After that, your loan servicer will contact you.
Choosing a Service Provider
The loan servicers listed below are for loans owned by the US Department of Education (ED). To find out who is servicing your debt, click here.
scroll down to the “My Loan Servicers” area on your account dashboard, or
Call 1-800-433-3243 to reach the Federal Student Aid Information Center (FSAIC).
- Servicer of Loans with contact list
FedLoan Servicing (PHEAA) , Contact: 1-800-699-2908
Great Lakes Educational Loan Services, Inc. contact: 1-800-236-4300
HESCl, /Edfinancial, contact: 1-855-337-6884
MOHELA, contact: 1-888-866-4352
Aidvantage, contact: 1-800-722-1300
Nelnet, contact: 1-888-486-4722
OSLA Servicing. contact: 1-866-264-9762
ECS, contact: 1-866-313-3797
Who Should I Contact About a Loan?
If you need information regarding your loan for the current or upcoming academic year, contact your school’s financial assistance office.
- status of the loan,
- the deadlines for canceling your loan or loan disbursement in whole or in part, and
- Amounts and dates of loan disbursement
This information is only available from your school’s financial assistance office.
If your loan was disbursed during a previous school year and you’re still enrolled, keep your school’s contact information up to date and notify your loan servicer after you graduate.
- decrease your enrollment to less than half-time, or
- Don’t bother going to school.
If you are no longer enrolled in school, notify your loan servicer as soon as possible.
- make a name, address, or phone number update;
- you require assistance in paying your loan payment;
- If you have a query regarding your bill, please contact us.
- have further concerns concerning your student loan?
ED Contact Information for Non-ED Loans
If you have loans under the Federal Family Education Loan (FFEL) Program that are not controlled by the Department of Education, contact your servicer for information on repayment options and tools. Are you unsure who your service provider is? Scroll down to the “My Loan Servicers” area on your account dashboard.
If you have Federal Perkins Loans that are not owned by ED, you should contact the school where you obtained your loan for information on how to return it. Your loan could be serviced by your school.
If you have HEAL Program loans and aren’t in default, contact your loan servicer for assistance with account-related issues. Make use of the contact information provided by your loan servicer. Are you unsure who your service provider is? Look for the most current correspondence from the company that is sending you your loan bills.
communication from the organization that is sending you your loan payment bills
If you’re in default on HEAL Program loans, contact the Debt Collection Center for assistance with account-related questions:
For mail sent through the United States Postal Service:
Accounting Services, Debt Collection Center Mailstop 10230B 7700 Wisconsin Avenue, Suite 8-8110D Bethesda, MD 20857 Accounting Services, Debt Collection Center Mailstop 10230B 7700 Wisconsin Avenue, Suite 8-8110D Bethesda, MD 20857
If you’re sending mail via UPS or FedEx, follow these instructions:
7700 Wisconsin Avenue, Suite 8-8110D Bethesda, MD 20814 Phone: 301-492-4664 HHS Program Support Center Accounting Services, Debt Collection Center Mailstop Seventh Floor 7700 Wisconsin Avenue, Suite 8-8110D Bethesda, MD 20814 Phone: 301-492-4664
Loan Transfers: An Overview
We may need to move loans from one servicer to another in specific instances. Your federal student loans will still be owned by ED if we shift them from one servicer to another. The term “transfer” simply refers to a new servicer providing you with the assistance you need to fully repay your loans.
If your loan is transferred to a new servicer, you should expect the following:
- Your designated servicer will send you an email or a letter informing you of the transition.
- After the new servicer gets your loans, you will receive a welcome letter from them. This message will give you with the new servicer’s contact information as well as any measures you may need to take.
- Your loan information will be transferred from your assigned servicer to your new servicer, however you may only be able to view online information from the time your loans were transferred to your new servicer.
The terms of your loans will remain unchanged.
- Both your prior and new loan servicers will work together to ensure that all payments you make during the transfer procedure are credited to your new servicer’s loan account.
Following the receipt of your new servicer’s welcome letter, you should perform the following:
Start sending payments to your new loan servicer. If you make your loan payments through a bank or bill-paying service, notify the bank or bill-paying service of the new servicer’s contact information.
Follow the instructions for setting up an online account with the new servicer so you can connect with them more quickly and keep track of your loan account.
Paying for Federal Student Loan Assistance Isn’t Necessary
It is not necessary to pay for loan services such as consolidating federal student loans or qualifying for an income-driven repayment plan.
You should ignore any organization that contacts you and asks you to pay “registration,” “subscription,” or “maintenance” fees in order to enroll you in a government repayment plan or forgiveness program.
Your servicer can provide all of these services and more for free!
let’s know what you think in the comment section.