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As a result of FedLoan’s decision, its student loan accounts were transferred among these four servicers: MOHELA. Edfinancial. Aidvantage (formerly Navient) Nelnet. The transfer was completed in ...
However, FedLoan stopped servicing federal student loans after December 2022 and the Department of Education then transferred the loans it was servicing to Nelnet, Edfinancial, Aidvantage or MOHELA.
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.
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 Nelnet, the combined company now servicing 42% of the total federal student loan debt.
If you have a lender that manages both federal and private student loans — like Nelnet — you may have to call to see which type of loans you have. Federal vs. private student loans Federal
Navient Corporation is an American student loan servicer based in Wilmington, Delaware.Managing nearly $300 billion in student loans for more than 12 million debtors, the company was formed in 2014 by the split of Sallie Mae into two distinct entities: Sallie Mae Bank and Navient.
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 ...
Parent Plus loans -- also known as a Direct PLUS Loan -- are issued by the federal government and let parents of dependent students borrow funds to help pay for a student's college or career ...