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Student Loan Network. All rights reserved. SCHOLARSHIP SEARCH SECRETS, FOURTH EDITION. A PUBLICATION OF THE STUDENT LOAN NETWORK About the Author Labeled a visionary in financial aid with an intuitive sense for how marketing and community outreach should be done, Christopher S. Penn is the Chief Technology Officer of the Student Loan Network and founder/producer of the multi-award winning Financial Aid Podcast Internet radio show. Mr. Penn has also personally researched and located over 600.
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Conversationally FAQ
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To find out which loan servicer is servicing your loan, log in to StudentAid.gov to view your Dashboard or call the Federal Student Aid Information Center at 1-800-433-3243.
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To find out which loan servicer is servicing your loan, log in to StudentAid.gov to view your Dashboard or call the Federal Student Aid Information Center at 1-800-433-3243.
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Servicers manage student loans on behalf of the federal government and private lenders. So while you may have a federal student loan, you'll work with a private company to pay it off. Your servicer will contact you after the first federal loan is paid out to you.
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Your student loan servicer is the organization that handles customer service, including collecting and tracking your payments, for the loan. Depending on the number and type of your student loans, you may have one servicer or several.
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Federal student loan servicers handle your federal student loans on behalf of the U.S. Department of Education. The biggest loan servicers are MOHELA, Aidvantage and Nelnet. Your loan servicer might have changed during the payment pause. Find out who your loan servicer is by logging in to your student loan account.
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A loan servicer is a company that we assign to handle the billing and other services on your federal student loan on our behalf, at no cost to you.
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Your loan servicer typically processes your loan payments, responds to borrower inquiries, keeps track of principal and interest paid, manages your escrow account (if you have one). The loan servicer may initiate foreclosure under certain circumstances.
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American Education Services (AES) is a federal loan servicer that processes FFEL loans. While the FFEL program was discontinued, AES still handles borrowers in repayments, and it also services some private student loans for other lenders.
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