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Latest from FSA: What Borrowers Should Know About Their Federal Student Loan Servicers

June 10, 2014

Student loan servicers are here to help borrowers navigate the repayment process. The Department of Education recently came out with these key points to help your students get a better understanding of what their loan servicer does:

What is a loan servicer?

  • loan servicer handles the billing and other services on borrowers’ federal student loans
  • The U.S. Department of Education assigns students’ loans to a servicer
  • The servicer assists borrowers with repayment and any questions they may have

What’s so important about loan servicers?

How do borrowers find out who their loan servicer is?

  • Log in to “My Federal Student Aid
  • Select “Your Federal Student Loan Summary” to view loan information

View the full article here: http://www.ed.gov/blog/2014/05/what-you-should-know-about-your-federal-student-loan-servicer/.

For your borrowers whose loans are serviced by Nelnet, we’ve created this video that explains our role as a servicer:

 

Megan Freese, Communications Intern

Megan Freese, Communications Intern

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