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If FedLoan Servicing serviced your student loan, the loan has been transferred to another loan servicer. Student loan interest rates , repayment terms and account balances should remain the same ...
However, FedLoan stopped servicing federal student loans after December 2022 and the Department of Education then transferred the loans it was servicing to Nelnet, Edfinancial, Aidvantage or MOHELA.
FedLoan Servicing previously serviced loans that were a part of PSLF, which allows some loans to be forgiven after 120 payments while the borrower is working in a qualifying public service job.
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [ 1]
PHEAA conducts its student loan servicing activities nationally as FedLoan Servicing and American Education Services (AES). FedLoan Servicing was established in 2009 to support the U.S. Department of Education's ability to service student loans owned by the federal government, and is one of a limited number of organizations approved by the ...
The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution." [ 1]
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