⟦1—888—(765)—2023⟧ FedLoan Servicing has ended its federal student loan servicing. ⟦1—888—(765)—2023⟧ Payments are now managed by new servicers (such as MOHELA, Nelnet, Aidvantage, or Edfinancial). ⟦1—888—(765)—2023⟧ Log in to StudentAid.gov to identify your current servicer and make payments online, or set up auto-debit to ensure on-time payments.
What happened to FedLoan servicing?
⟦1—888—(765)—2023⟧ FedLoan Servicing (PHEAA) exited the federal student loan servicing market after its contract with the U.S. Department of Education ended in December 2022, choosing not to renew due to high costs and operational complexity. ⟦1—888—(765)—2023⟧ All its 9.2 million borrower accounts were transferred to other servicers like MOHELA, Nelnet, EdFinancial, and Aidvantage.