Compare Personalized Student Loan Refinance Rates
It’s possible your servicer will change once or more throughout the loan term. Both the federal government and private lenders partner with student loan servicing companies, and it’s important to identify your servicer
early on so you
know where to go for help.
Why is it important to know who your loan servicer is?
Compare Personalized Student Loan Refinance Rates
It’s possible your servicer will change once or more throughout the loan term. Both the federal government and private lenders partner with student loan servicing companies, and it’s important to identify your servicer
early on so you
know where to go for help.
How do I contact my loan servicer?
| Loan Servicer Contact | FedLoan Servicing (PHEAA) 1-800-699-2908 | Granite State – GSMR 1-888-556-0022 |
|---|
Can I choose my loan servicer?
No, borrowers do not choose who services their mortgage
. If you’re unhappy with your servicer, you’ll need to refinance to a new loan, using a lender that does not work with that servicer.
Can you choose your student loan servicer?
When you first get federal student loans,
you can’t choose your servicer
— the company contracted by the government to manage your loans. But you can change student loan servicers if you consolidate. … The U.S. Department of Education assigns your servicer when your loan is first disbursed.
Is OSLA a good loan servicer?
OSLA’s staff are
consistently rated in the 90th percentile
with good customer satisfaction ratings. It was also recognized as an Exceptional Performer by the U.S. Department of Education. OSLA has serviced the loans of over 130,000 student loan borrowers.
Does student loan affect credit score?
Yes,
having a student loan will affect your credit score
. Your student loan amount and payment history will go on your credit report. Making payments on time can help you maintain a positive credit score.
Is FedLoan servicing a lender?
FedLoan Servicing isn’t a lender nor does it service private loans
. … The Department of Education chooses your loan servicer for you when your first loan is disbursed, so the company sending you a bill every month is your servicer, not your lender.
Where is my student loan refund?
So, you’ll usually track your refund status through your school rather than the federal department. Often, you can log in to your school’s portal,
visit the financial aid section
and see whether your loans have been disbursed yet.
What’s a forbearance loan?
A loan forbearance
allows you to temporarily stop making principal payments or reduce your monthly payment amount for up to 12 months
, if you don’t qualify for deferment. Learn more about loan deferment and forbearance.
Can you request a new loan servicer?
The only way to change mortgage servicers is
to refinance your loan and move to a lender that services the loans they originate
. Keep in mind, just because a company services a loan today doesn’t mean they’ll continue to do so long term.
Why does my mortgage servicer keep changing?
If servicing a loan costs more than the money it brings in,
lenders may attempt to sell the servicing of it to lower their costs
. The lender may also sell the loan itself to free up money in order to make more loans. Loan servicers have another consideration in play.
What is ChangEd from shark tank?
ChangEd is
an application designed to help students pay off their student loans
. The application functions by linking to the user’s bank account and rounding their purchases up to the nearest dollar.
How do I know if my student loan is federal or private?
Review your billing statement
For federal student loans, the top of a student loan bill will have the name of your student loan servicer and the name of your federal student loan program. For private student loan bills, you’
ll see the name of your private lender on the bill instead
.
Can I move my student loan to another bank?
How to Change the Lender of a Private Student Loan. You can’
t change the
servicers on a private student loan, but you can refinance them (sometimes called a private consolidation) with another lender. This does not transfer the loan. Instead, the new loan pays off the balance on the old loan.
Who are the new student loan servicers?
Two of the new servicers –
EdFinancial Services LLC and Missouri Higher Education Loan Authority (MOHELA)
– are currently servicers in the Direct Loan program. The other three servicers – F.H. Cann & Associates LLC, MAXIMUM Federal Services Inc.
