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News You Can Use: Direct Loan Servicing Center Closing Information

September 6, 2013

In January, FSA announced that they would be ending their contract with the Direct Loan Servicing Center (ACS/Xerox). Since the Department of Education made the switch to contracting servicers, they have been gradually transferring their loans to the four TIVAS. The last of those student loans have been transferred, and the Direct Loan Servicing Center is preparing to close. Here are some key points to know about the closing of the Direct Loan Servicing Center:

  1. All loans currently serviced by the Direct Loan Servicing Center were transferred no later than August 29, 2013.
  2. Borrowers will receive a welcome letter from their new servicer, which will include the servicer’s contact information.
  3. ACS/Xerox will remain open to communication through the close of business November 15, 2013.

For all the details please go to http://ifap.ed.gov/eannouncements/081613LSIDirectLoanServicingCenterACSTransferUpdateClosurePlan.html.

Amy Moser, Southern Regional Director, Nelnet Partner Solutions

Amy Moser, Southern Regional Director, Nelnet Partner Solutions

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