Missouri State University

Skip to content Skip to navigation
a b c d e f g h i j k l m n o p q r s t u v w x y z

MSU Real L.I.F.E.

Literacy In Financing your Education

What Is a Loan Servicer & Why Should I Care?

November 9, 2015 by Teaira Miller

loan servicer

A question that many students ask often is: Why am I receiving federal student loan bills from a company rather than the U.S. Department of Education? If you have asked yourself a similar question this may help:

What is a loan servicer?

A loan servicer is a company that handles the billing and other services on your federal student loans.  The statement that you receive in the mail is coming from a loan servicer on behalf of the U.S. Department of Education.

How do I find out who my loan servicer is?

To view information about all of the federal student loans you have received and to find contact information for your loan servicer, visit www.nslds.ed.gov and select “Financial Aid Review.” You will then be prompted to log in using your FSA ID, so make sure you have that handy.

Note: If you have multiple federal student loans, you may have more than one loan servicer, so make sure you click through each loan individually for information specific to that loan.

Why does it matter?Student debt

There are several reasons that being familiar with your loan servicer is important, including the fact that your loan servicer:

    • is the company in which you will make payments to;
    • can help you choose or change your repayment plan;
    • can help you learn about loan consolidation or your forgiveness, cancellation or discharge options; and
    • can counsel you on ways to make your payments more affordable.

 

Moral of the story: Keep in contact with your loan servicer!

The student loan repayment process can be confusing, especially if you’re new at it, but your loan servicer is there to help. Make sure you stay in touch with them and use the resources they have available for you.loan servicer 3

 

Filed Under: Financial Aid, Student Loans

Subscribe via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Categories

  • About Us
  • Budgeting
  • Credit and Debt
  • Financial Aid
  • Peer Financial Counselor
  • Questions Answered
  • Saving and Investing
  • Student Loans
  • Uncategorized

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
Make your Missouri statementMake your Missouri statement
  • Last Modified: November 9, 2015
  • Accessibility
  • Disclaimer
  • Disclosures
  • EO/AA/M/F/Veterans/Disability/Sexual Orientation/Gender Identity
  • © 2013 Board of Governors, Missouri State University
  • Contact Information