A student loan servicer performs customer service functions for a student loan, such as sending out statements and coupon books, collecting payments and responding to borrower questions. The servicer may also provide a secure web site that borrowers can used to review their loan status, current balance information and payment history, and to make payments on their loans.
Other functions performed by student loan servicers include providing deferments and forbearances to borrowers who need a break in their student loan payments and changing the repayment plans on a borrower’s student loans.
Who’s Your Servicer?
Borrowers sometimes lose track of their loans, forgetting the payment amount, due date and the payment address.
The servicer may change occasionally, if the loan is sold to a new lender or if the lender decides to change the servicer.
For private student loans, visit AnnualCreditReport.com to obtain a free copy of your credit report. Your credit report should list all of your debts, including private student loans. You can then call the lender or visit the lender’s web site to obtain information about your student loans.
Your college’s financial aid office may be able to help you find out information about your student loans.
Federal Student Loan Servicers
The StudentLoans.gov web site includes a list of servicers of Federal Direct Loans. Some of these servicers may also service FFEL program loans.
This table provides a list of federal loan servicers with links to their web sites and their main telephone numbers.
If a borrower files an Employment Certification Form or applies for Public Service Loan Forgiveness, their loans will be transferred to FedLoan Servicing.
If a borrower applies for total and permanent disability (TPD) discharge at DisabilityDischarge.com, the disability discharge process will be managed by Nelnet.
If a federal student loan is in default, it may have been assigned to the U.S. Department of Education’s Default Resolution Group, which can be reached at the Debt Management and Collections System web site, MyEdDebt.ed.gov. You can also call 1-800-621-3115.
Private Student Loan Servicers
Many lenders service their own student loans. Some will outsource the servicing.
AES/PHEAA is one of the top outsourcers for student loan servicing. They can be reached at 1-800-233-0557 or 1-717-720-3100.