Are you looking for the best federal loan servicers in the US? Here in this article, we have provided you with a good number of loan servicers you can count on in the US. Find the best federal student loan near me. There are several loans provided by the federal government that students can apply for.
With this form of loans, students who do not have the means to further their education at the college and university level, can count on federal loans. You just need to meet their criteria and you will be good to go. These lenders work under the Department of Education to disburse the loan.
Who is a federal loan servicer?
As the name implies, he/she or company is the intermediate between the federal government and the students/applicant. Thus, they lend you money on behalf on the federal government. They will be available to work closely with you until you finish payment your loan debt.
How to find a federal loan servicer?
Since there are different federal loan servicers in the Us, there is a simple way to find out who your lender or servicer is. You can do that by logging into your student loan account. Scroll to my “My Aid” option and click on “View Loan Servicer Details).
One other way to know this is by calling the Federal Student Aid Information Center (FSAIC) on 1-800-433-3243.
List of Federal loan servicers
Fedloan is the only recognized servicer who controls Public Service Loan Forgiveness application. Pennsylvania Higher Education Assistance Agency (PHEAA) is in charge of Fedloan. Also, we have been drawn to the attention that, Fedloan will be transferring their loan portfolio and activities to one of the loan servicers, MOHELA by December 2021.
MOHELA is among the best 9 student loan servicers, including FedLoan Servicing (PHEAA), Granite State (GSMR), HESC/Edfinancial, Navient, Nelnet, and OSLA Servicing.
Missouri Higher Education Loan Authority (MOHELA) is one of the biggest student loan servicers in the USA. Their headquarters in located in St. Louis, Missouri.
Navient is a federal loan servicer with the responsibility of collecting and servicing loans located in Wilmington, Delaware. As at now, Navient services 21% of federal student loan in the United State.
Nelnet is a financial service that makes repayment of federal loans easier. They provide you with several payment options. They have their headquarters in Lincoln, Nebraska. Their loan options include, customer service for student loan borrowers, technology related to student loan customer service, outsourcing services for guaranty agencies, tuition payment plans, education planning, enrollment-related services and higher education planning tools.
Edfinancial Services is one of the student loan servicers in the United States. They help you successful repaying your loan. Their headquarters is located in headquartered in Knoxville, Tennessee.
Granite State Management & Resources in relation with the U.S. Department of Education (ED) will transfer all federal direct student loans operated by Granite State to Edfinancial Services. Also, borrowers who recently have EDvestinU private loans or hold account numbers beginning with C7 will continue to receive service through Granite State.
Great Lake Educational Loan Services
This type of student loan servicer provides applicant with the tools and resources they need to successfully manage their loan. They help you in paying your loan and finding the best repayment plan.
OSLA student loan servicer
OSLA Is a an official federal student loan servicer to Federal Student Aid. They have a network of support to help you succeed with your federal student loan repayment.
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