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    Who Is My Student Loan Servicer?

    By Cait Williams

    Cait Williams is a Content Writer at Scholarships360. Cait recently graduated from Ohio University with a degree in Journalism and Strategic Communications. During her time at OU, was active in the outdoor recreation community.

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    Edited by Maria Geiger

    Maria Geiger is Director of Content at Scholarships360. She is a former online educational technology instructor and adjunct writing instructor. In addition to education reform, Maria’s interests include viewpoint diversity, blended/flipped learning, digital communication, and integrating media/web tools into the curriculum to better facilitate student engagement. Maria earned both a B.A. and an M.A. in English Literature from Monmouth University, an M. Ed. in Education from Monmouth University, and a Virtual Online Teaching Certificate (VOLT) from the University of Pennsylvania.

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    Updated: October 10th, 2023
    Who Is My Student Loan Servicer?

    If you have any student loans, then you also have what’s called a loan servicer. A loan servicer is assigned to your account to ensure that everything is in order during the life of your loan. Your servicer may provide you necessary information about your loan, contact you about late payments, or help get you information on different repayment plans.

    Who is my servicer?

    There are two ways that you can find out who your loan servicer is: 

    Option one

    Log on to your Federal Student Aid account dashboard. From there you should be able to scroll down and find a section titled “My loan servicer”, where you can find who your loan servicer is

    Option two

    You can also call the Federal Student Aid Information Center at 1-800-433-3243

    Loan servicers

    The federal government cannot manage all of the student loans they give out on their own, which is why they outsource their loan servicing to the companies listed below.

     

    Edfinancial 1-855-337-6884
    MOHELA 1-888-866-4352
    Aidvantage 1-800-722-1300
    Nelnet 1-888-486-4722
    ECSI 1-866-313-3797
    Default Resolution Group 1-800-621-3115 (TTY: 1-8777-825-9923 for the deaf or hard of hearing)

     

    One of these companies will be listed on your account as your loan servicer. A loan servicer will be the one to help you with any questions you may have, information about repayment plans and any general information about your loan. 

    Loan transfers

    If you have your student loans long enough, at some point they may be transferred to a different servicer. In this case, just know that it is completely normal and nothing should be expected of you when it transfers. If your loan servicer does change, this is what you can expect:

    • A letter informing you of the transfer
    • A letter from your new servicer with contact information and anything that is needed of you
    • No change in the terms of your loan
    • All previous loan information will be given to your new servicer for their records

    Student loan scams

    The Federal Student Aid website makes it clear that at no point should your servicer ever ask you for money to complete any sort of service. Your servicer should provide you with all the necessary information you need at no cost. If you are contacted by someone asking for your information or payment, this is likely a scam and you should not provide them any information. Unfortunately, many student loans scams and loan forgiveness scams do exist out there, so be careful!

    Private student loan servicers

    If you have any private student loans then it is likely that your loan provider is also your servicer. This is a question you should ask your loan provider before you take out your loan. If you have a private student loan and you don’t know who your loan servicer is, call your loan provider today  and ask! 

    Key Takeaways

    Key Takeaways

    • Your loan servicer is the company though which all things related to your loan will be handled
    • All federal loans are serviced by one of the six companies listed above. Private loans will have their own servicers, which are often the lender themselves
    • During the life of your loan, you may have your loan transferred between servicers, but this can be a completely normal thing and does not necessarily indicate any problems
    • Your loan servicer should provide you with all the information you need about your loan, repayment plans, and loan forgiveness at no additional cost to you. Beware of loan scams that may ask for payment or your personal information
    Key Takeaways

    Frequently asked questions about student loan servicers

    Who replaced Navient?

    Navient used to be a company that serviced federal student loans. However, the company ended its contract with the Department of Education in December of 2023. If your loan is serviced by Navient, you will be switched to a new servicer called Aidvantage. They may still be switching your loan to the new servicer, but should be getting in touch with you soon if they haven’t already. If you have any questions, reach out to your current servicer to ask. As we said above, when a loan is transferred, there should not be anything required of you.

    Do student loans go away after 10 years?

    Unfortunately, student loans do not just disappear after ten years. Student loans can be paid off within ten years if you are financially able to pay them off in that time frame. Under programs like the Public Service Loan Forgiveness program, it is possible after you’ve made ten years of qualifying payments. When you take out your loan, you should spend some time thinking and asking about how long it’s estimated that it will take you to pay back your loans, as this can be a very helpful factor in deciding to take out loans at all.

    How do I know if my student loans are forgiven?

    If you think you are eligible to have your loans forgiven, or aren’t sure if your loans were already forgiven, you should get in contact with your loan servicer immediately. Questions like these are just what your loan servicer is for!

    What’s the difference between my lender and my loan servicer?

    The lender is the entity that initially lent you the money while the loan servicer is the organization responsible for managing and servicing the loan.

    Are all of my student loans serviced by the same company?

    Many borrowers have multiple loans which can be serviced by different loan servicer companies. Knowing if you have one servicer or multiple servicers is essential for effective loan management,

    Can I choose my loan servicer?

    With federal loans, the servicer is typically assigned by the Department of Education, but refinancing or consolidating loans may allow some degree of choice with private lenders.

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