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The current federal student loan servicers are: HESC/Edfinancial. MOHELA. Aidvantage. ... Private student loans come from private institutions, like banks, credit unions and online lenders.
Loan Servicer. Phone Number. FedLoan Servicing (PHEAA) 1-800-699-2908. Great Lakes Educational Loan Services Inc. 1-800-236-4300. HESC/Edfinancial. 1-855-337-6884
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [ 1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
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.
EdFinancial Services. EdFinancial Services is a financial company which provides student loans servicing for 15 of the top 100 lenders in the USA, including regional and national banks, secondary markets, state agencies and other student loan providers. It is headquartered in Knoxville, Tennessee .
The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution." [ 1]
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