Who is the default servicer for federal student loans?
If payments you made are not listed, provide proof of payment to your loan servicer and request that the information in your account be corrected. MAXIMUS Federal Services, Inc., is the loan servicer for defaulted federal student loans over 360 days delinquent.
Where can I find out who my student loan servicer is?
If you don’t know who your loan servicer is, call the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243.
What kind of repayment plan do I need for my student loans?
Most federal student loans are eligible for at least one income-driven or income-based repayment plan (IBR). These repayment plans are based on a percentage of your discretionary income. They’re designed to make your student loan debt more manageable by reducing your monthly payment amount.
How to resolve a dispute with a student loan servicer?
If you and your loan servicer disagree about the balance or status of your loan, follow these steps to resolve your disputes: 1 Talk with your loan servicer You may be able to solve a dispute by simply contacting your loan servicer and… 2 Request help from the FSA Ombudsman Group More
How often do people default on their student loans?
Student loan default can feel overwhelming. But if you’ve defaulted, you’re not alone: Within three years of entering repayment, 9.7% of student loan borrowers default, according to the Education Department.
How can I get Out of default on my federal student loan?
Another option for getting out of default is to consolidate your defaulted federal student loan into a Direct Consolidation Loan. Loan consolidation allows you to pay off one or more federal student loans with a new consolidation loan. make three consecutive, voluntary, on-time, full monthly payments on the defaulted loan before you consolidate it.
What happens to my transcript if I default on my student loan?
Your school may withhold your academic transcript until your defaulted student loan is satisfied. The academic transcript is the property of the school, and it is the school’s decision—not the U.S. Department of Education’s or your loan holder’s—whether to release the transcript to you.