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The forgiveness program is just one part of a fundamentally broken student loan servicing system, as the Department of Education’s own inspector general pointed out last week.
FedLoan Servicing is a student loan servicer, which means it collects loan payments and helps borrowers sign up for alternative repayment plans for the Department of Education.It also manages the ...
FedLoan Servicing hasn’t had a particularly good run of things lately. In fact, it’s been downright miserable. The student loan servicing giant has a history of apparent customer service and loan servicing issues.
Under certain conditions (including as a first time borrower), you need to sign a Master Promissory Note (MPN) and go through entrance counseling before you get any federal student loans.The MPN is a legal document stating that you agree to pay back your loans, including any accrued interest and fees, and explains your rights and responsibilities as a student loan borrower.
FedLoan Servicing is one of two offshoots of the Pennsylvania Higher Education Assistance Agency (PHEAA). Along with American Education Services (AES), FedLoan Servicing manages the largest number of federal student loans in the country.
Direct Debit is the most convenient way to make your student loan payments—on time, every month.
What Is FedLoan Servicing (PHEAA)? FedLoan Servicing is a student loan servicing company contracted by the Department of Education to handle their student loans.
Yesterday, Massachusetts Attorney General Maura Healey filed a lawsuit against loan student servicing giant FedLoan Servicing (formally known as the Pennsylvania Higher Education Assistance Authority, or “PHEAA” for short).
What to know about FedLoan consolidation. Consolidation involves taking out a direct consolidation loan to repay your original federal student loan debt, and it could solve a number of problems.. Most notably, you could make a single monthly payment to one servicer instead of a handful of them (if you have multiple federal loans serviced by various companies).
Whether you’re facing a mountain of student loans or you’re just a few thousand dollars away from finally doing away with the debt, several methods and tactics could help you pay off student loans faster.