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FAQ: When will Direct Loans be transferred to the new servicers?

August 9, 2010

Question:

When will Direct Loans be transferred to the four new servicers (AES/PHEAA, Great Lakes, Nelnet and Sallie Mae)?

Answer:

The Department of Education (ED) had expected to begin assigning Direct Loans to the new federal loan servicers—FedLoan Servicing (PHEAA), Great Lakes Educational Loan Services, Nelnet, and Sallie Mae—by August 31, 2010. All four additional servicers are servicing Direct Loans well ahead of that date:

  • Nelnet began June 23, 2010
  • FedLoan began June 30, 2010
  • Great Lakes began July 7, 2010
  • Sallie Mae began July 14, 2010

Please keep the questions coming.  If you want to see a listing of all the FAQs we have answered on the blog simply choose “FAQ” in the Categories drop down box on the right-hand side of the blog webpage

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