Federal Loan Servicers

What is a loan servicer?

A servicer is hired by the U.S. Department of Education (DOE) or FFELP lender to collect, monitor, and report student loan payments. Once you have graduated or dropped below half-time status, your student loans enter their grace period. Once the grace period ends, your student loans will enter repayment and regular loan payments must be made, unless you have been approved for a different repayment option.

Who is my loan servicer?

The servicer(s) assigned to your loans will contact you to introduce themselves and provide important information about your repayment term; you are not able to select or change who services your loans. It is your responsibility to make sure your school and servicer have your most current mailing address/contact information and to notify them both of any changes. Please note that these companies work for the federal government but are not a part of the federal government and therefore cannot have a .gov address.

If you are unsure if the company contacting you is a legitimate organization and concerned about sharing your private information, you can check StudentLoans.gov or call the Department of Education at 1-800-433-3243 to determine if the company is a legitimate federal loan servicer. If you are do not know who services your loan(s) visit the National Student Loan Data System (NSLDS) or call 1-800-433-3243.

One of the following servicers may service your Direct Loan(s):

What happens if my loans are transferred to a new servicer?

There may be a delay (of up to 14 business days) in having access to your loan information online when the transfer takes place. In some instances, you may see some changes in your monthly payment amount or payment schedule due to the different operating procedures at each servicer. As a borrower, you should monitor this carefully and contact the servicer if you have any questions or do not understand any changes.   

Who do I contact if I have problems with my servicer?

First, contact the servicer to see if together you can come to a solution for any disputes you may have.

If you are unsuccessful in resolving the dispute, then contact the Federal Student Aid Ombudsman

U.S. Department of Education
FSA Ombudsman Group
P.O. Box 1843
Monticello, KY 422633
Ph: 1-877-557-2575
Fax: 606-396-4821

The Federal Student Aid (FSA) Ombudsman works with student loan borrowers informally to resolve loan disputes that the borrower is unable to resolve. The goal is to find creative alternatives for borrowers who need help with their federal loans. 

What are my rights as a student loan borrower?

  • You are entitled to a copy of your promissory note, which outlines the terms and conditions of your student loan, and will receive it before or after the loan is made.
  • Before you begin to repay, your loan holder is required to give you a payment schedule and detailed information about interest rates, fees, the balance you owe, and your repayment options.
  • You have a right to defer payments for certain defined periods or to request forbearance, if you qualify.
  • You may be eligible to repay under an extended, graduated, income-contingent, or income-based repayment plan.
  • For federal student loans and most private student loans, you may prepay in whole or in part at any time without penalty.
  • You will receive a notice telling you that you have paid off your loans.

What are my responsibilities as a student loan borrower?

  • You must repay your student loans on time and in full even if you do not finish your education, get a job, or feel satisfied with the education you received.
  • You must notify your loan holder or servicer immediately of any change to your name, address, telephone number, or Social Security number.
  • You must make scheduled monthly payments even if you do not receive a bill or coupon booklet.
  • You must notify the servicer of anything that affects your ability to repay or eligibility for deferment or cancellation.

For a complete list of your rights and responsibilities, see your Master Promissory Note (MPN).