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CornerStone was previously one of eight approved federal student loan servicing agencies that provided loans nationwide. Although Cornerstone was contracted to service loans through 2022, the ...
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The Department of Education dropped ACS’ loan servicing contract in 2013, though ACS continued to service some Federal Family Education Loans (FFEL), Perkins Loans and private student loans. ACS ...
Federal student loans are distributed by the federal government and assigned to a lender through the Department of Education. When you complete your FAFSA, you’re also applying for need-based ...
In 2021, student loan servicers began dropping out of the federal student loan business, including FedLoan Servicing on July 8, Granite State Management and Resources on July 20, and Navient on September 28. [41] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all ...
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
Since 1994, ECMC has operated in the areas of student loan bankruptcy management and loan collection. ECMC is one of a number of guaranty agencies that oversee student loans for the United States Department of Education. As a guarantor working on behalf of the U.S. Department of Education, ECMC charges fees to debtors and earns commissions from ...
If you have federal student loans serviced by Aspire, log into your Federal Student Aid account at studentaid.gov — the Loan Simulator tool can help you choose a repayment plan. There are eight ...
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