Credible takeaways
- Student loan servicers manage billing and payments, help borrowers choose repayment options, and handle loan-related requests.
- Current federal student loan servicers include Edfinancial, MOHELA, Aidvantage, Nelnet, ECSI, and CRI.
- You can find your federal loan servicer by logging in to your StudentAid.gov account.
- If you have private student loans, check your monthly statements or credit report to identify your loan servicer.
Your student loan servicer is the company that manages and tracks your loan payments. If you have federal student loans, your loan servicer is assigned by the U.S. Department of Education. If you have private student loans, your servicer is determined by your lender.
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What does a federal student loan servicer do?
Federal student loan servicers are companies that manage federal student loan repayment for the U.S. Department of Education.Their responsibilities include:
- Manage billing and payments: Once repayment begins, your servicer processes your monthly payments and keeps a record of your payment history.
- Help you choose a repayment plan: Servicers can explain your repayment options and help you find a plan that best fits your goals, whether you want a lower monthly payment or faster loan payoff.
- Handle deferment and forbearance requests: If you’re experiencing financial hardship, your servicer can process requests to temporarily pause your payments through deferment or forbearance.
- Track progress toward loan forgiveness: Servicers track qualifying payments toward programs such as income-driven repayment forgiveness and Public Service Loan Forgiveness (PSLF). However, they don't make the final decision to approve forgiveness.
- Answer questions about your loans: Your servicer can provide information about your loan balance, payments, repayment options, and federal student aid account.
Current federal student loan servicers
Below is a list of the companies that currently service federal student loans for the Department of Education, along with their phone numbers.
Inactive federal loan servicers
Some servicers have ended their contracts with the Department of Education and transferred their loans to other servicers. The following servicers are no longer contracted:
- OSLA: The Oklahoma Student Loan Authority’s service contract ended in December 2023. All borrowers whose loans were serviced by OSLA have been transferred to Aidvantage.
- Great Lakes: Nelnet acquired Great Lakes in 2018. As of June 2023, Great Lakes no longer services federal student loans. Any borrowers whose loans were serviced by Great Lakes have been transferred to Nelnet.
How do I find my federal student loan servicer?
To find your federal student loan servicer, follow these steps:
- Log in to your StudentAid.gov account.
- Click on “My Loans” in the main menu and select “Servicer History.”
- View information about your current and past loan servicers for each of your federal loans.
Depending on your servicer, you may be able to manage your repayment via the Federal Student Aid website or via your servicer’s separate site. Either way, it’s critical to gain access so you can take steps like changing your repayment plan, making payments, or requesting forbearance or deferment. Plus, some servicers will give you a discount of 0.25 percentage points for enrolling in autopay.
Editor insight: “If you’re unable to log in to your StudentAid.gov account or have additional questions, I recommend contacting the Federal Student Aid Information Center at 1-800-433-3243. This can help you avoid missing important information and student loan payments.”
— Kelly Larsen, Student Loans Editor, Credible
What if my loan was transferred?
If your student loan servicer changes, you should receive an email or letter from your new loan servicer that includes its name and contact information.
Once the Department of Education completes your student loan servicer transfer, you should receive instructions from your new servicer on accessing your new online account and making payments. Your student loan terms will remain the same.
Tip
Before your servicer transfers your loans, it’s best to save your payment history from your account in case there are discrepancies down the road. Also, update your information so your new servicer can reach you.
How to find your private student loan servicer
If you took out private student loans, your loan servicer will usually be listed on your monthly billing statement or in the original loan document you signed. You can also check your credit report, which will show the company that currently services your loan. You can view your credit reports from Equifax, Experian, and TransUnion for free at AnnualCreditReport.com.
As with federal loan servicing transfers, private student loans can change hands. It’s important to maintain communication with your lender and loan servicer in case your education debt is sold to another company or migrates to a new servicer.
If you need a new private student loan, Credible makes it easy to compare rates from multiple private student loan providers without affecting your credit score.
FAQ
How do I find out who services my student loan?
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What if my federal loans aren’t owned by the Department of Education?
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Can I change my student loan servicer?
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Where can I find information on my student loans?
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What if my student loan was transferred to another servicer?
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