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The company was to be sold for $150 million, initially keeping CEO Jeff Crosby in charge, but with a plan of consolidating the companies together. [9] On February 7, 2018, Nelnet announced that it had completed the acquisition of Great Lakes Educational Loan Services, Inc.. [6] The loan servicing operation is now a fully owned subsidiary of ...
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. [40] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all ...
In June 2020, the DOE announced that MOHELA was one of five servicers that would help oversee the federal student loan portfolio in order to bring “enhanced customer support”. [3] [4] In 2021, it was reported that some FedLoan (Pennsylvania Higher Education Assistance Agency) student servicing loans were transferred to MOHELA. [5]
CornerStone Education Loan Services was managed by the Utah Higher Education Assistance and was previously one of eight approved federal student loan servicing agencies. Due to financial loss ...
A federal regulator said Thursday that it is banning Navient from servicing federal student loans and ordering the company to pay $120 million.
FedLoan Servicing, one of the nation’s largest federal student loan servicers, ended its contract with the Department of Education in 2021. As a result, millions of student loan borrowers were ...
Nelnet, Inc., is a United States–based conglomerate that primary focused on financial services including student and consumer loan origination and servicing.Additionally, the company operates an investing arm, an internet bank and owns Allo Fiber, a cable and internet provider.
In July 2021, FedLoan Servicing announced that it would stop servicing federal student loans when its contract ended in December 2021. Since then, it extended its contract one more year to allow ...
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