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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 on ...
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.
In September 2021, FedLoan Servicing began transferring some student loans to MOHELA. The following month, FedLoan began transferring others to Aidvantage, which was formerly Navient, Edfinancial ...
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]
In 2021, student loan servicers began dropping out of the federal student loan business, including FedLoan Servicing on July 8, Granite State Management and Resources on July 20, and Navient on September 28. [40] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all ...
The Biden administration has made it easier for many borrowers to seek federal student loan forgiveness from several existing debt cancellation programs – altogether approving roughly $117 ...