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FedLoan: What is FedLoan?

FedLoan is one of nine federal student loan servicers that works with the U.S. Department of Education to manage student loans.

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What is FedLoan? You may have received letters or emails from FedLoan and wondered who they are. FedLoan is a legitimate student loan servicer that works with the U.S. Department of Education to manage federal student loans.

What is FedLoan?

FedLoan is a student loan servicing organization operated by the Pennsylvania Higher Education Assistance Agency (PHEAA), a quasi-governmental agency that administers multiple educational financial aid programs. It is headquartered in Harrisburg, Pennsylvania.

FedLoan is one of the nine federal student loan servicers.

What is a federal student loan servicer? When you take out a federal loan from the U.S. Department of Education, the U.S. Department of Education will assign you to one of the nine loan servicers, who are approved to work with them. FedLoan is one of these loan servicers.

How did you end up with FedLoan?

When you take out a federal student loan from the U.S. Department of Education, they will assign you a loan servicer when your loan amount is first paid out to your school.

What is a loan servicer?

A loan servicer is a company that manages the billing and other services on your federal student loan. There is no cost to you for using FedLoan.

Your loan servicer will, for example, send you federal loan bills, receive loan payments from you, and work with you on loan consolidation and repayment plans.

Is FedLoan the lender?

FedLoan is not the lender. The lender of your federal student loans is the U.S. Department of Education.

Do I choose to use FedLoan?

No, you do not choose who your loan servicer is. The U.S. Department of Education assigns you a loan servicer.

Sometimes the U.S. Department of Education will transfer loans from one servicer to another servicer. When this happens, you will be notified. Your loans are still owned by the U.S. Department of Education, but the company who will be sending you loan bills and collecting your loan payments will change.

How does FedLoan work with you?

FedLoan provides a range of services to students who have federal student loans from the U.S. Department of Education.

Set up your online account
Create an online account at FedLoan to access your loan information, make payments, review loan details, update your contact information, sign up for email correspondence, and more.

Get the mobile app
Check your balance, make payments, and send and receive messages through the FedLoan app, available in Google Play and the App Store.
Make automatic online payments
Set up auto payments from your bank account to FedLoan and you may receive a 0.25% interest rate deduction.
Give your parents or spouse access to your account
Provide your parents or spouse access to your loan account.
Sign up for income-driven repayment plans
You can sign up for an income-driven repayment plan. FedLoan offers five types of income-driven repayment plans. This may lower your monthly payments, which are based on your income, family size, loan balance, and type of federal student loan. After making 20-25 years of loan payments, your remaining loan balance may be forgiven.
Change repayment plan
You can change your repayment plan type. FedLoan offers several types of repayment plans which are based on length of time and income.
Make extra payments
You can choose to repay more than what your repayment plan states. This may reduce how much you pay later.
Postpone payments
If you are unable to make your monthly payment, you can contact FedLoan to request deferment or forbearance.
Sign up for loan forgiveness
Under certain circumstances, such as working in public service or working as a teacher in low-income schools, you may be able to have your loan forgiven.
Sign up for military benefits
FedLoan offers benefits to those in the military including deferments, interest caps, public service loan forgiveness, and more.

How to confirm FedLoan is your loan servicer

If you are not sure if FedLoan is your loan servicer, you can check this in two ways.

My Federal Student Aid

You can go to My Federal Student Aid, a U.S. Department of Education website, to see information about all of your federal loans, including who your loan servicer is.

Federal Student Aid Information Center

You can also call the Federal Student Aid Information Center (FSAIC), a U.S. Department of Education center.

Federal Student Aid Information Center phone number:
1-800-433-3243

Sample FedLoan bill

If FedLoan is your loan servicer, you should receive bills that look like the one below.

Is FedLoan legit?

FedLoan is a legitimate student loan servicer. It is one of nine federal student loan servicers, and is one of the largest student loan servicers. PHEAA, which operates FedLoan, has been in business since 1963.

Good performance according to the U.S. of Education

The U.S. Department of Education measures the performance of its loan servicers and based on this, decides on how many student loans to allocate to each servicer. Those that perform well receive higher allocations.

FedLoan has been allocated 10% of loans, or approximately 1 in 0 loans, as of June 2019.

Nationwide Multistate Licensing System & Registry (NMLS) registered

FedLoan's operator, PHEAA is registered with the NMLS and with the NMLS ID 1619466. The NMLS is a record system for financial licensing and registration

Can I switch from FedLoan to a new student loan servicer?

The U.S. Department of Education may transfer loans from one servicer to another. When this occurs, you will be notified. However, you do not get to select your federal student loan servicer.

The only time you can change your student loan servicer if when you:

  1. Consolidate your loans
  2. Apply for public student loan forgiveness

Alternatively, you can refinance with a private lender. By doing this, you forfeit federal loan forgiveness programs and income-driven repayment plans. Instead of having your loan managed by the U.S. Department of Education and FedLoan, your loan will instead be managed by a private bank, online lender, or credit union.

How to make payments

You can make your student loan payments to FedLoan online, by phone, or by mail. Your payment will take 2-3 business days from the when you send a payment to when you see the payment in your FedLoan account.

What if you can’t afford your payments to FedLoan

FedLoan offers several different repayment plans. If your circumstance make it difficult for you to repay under any of these plans, you can call FedLoan at 1-800-699-2908 to discuss alternatives.

How to contact FedLoan

There are several ways to contact FedLoan.

By telephone

FedLoan telephone number:
Toll-Free: 1-800-699-2908
International: 1-636-532-0600

FedLoan hours of operation:
Monday - Friday: 8 a.m. - 9 p.m., Eastern Time

By mail

FedLoan address for payments:
Department of Education
FedLoan Servicing
P.O. Box 790234
St. Louis, MO 63179-0234

Send completed Direct Debit application forms to:
FedLoan Servicing
P.O. Box 3661
Harrisburg, PA 17105-3661

Send letters and correspondence to:
FedLoan Servicing
P.O. Box 69184
Harrisburg, PA 17106-9184

Send Credit Disputes to:
FedLoan Servicing Credit
P.O. Box 60610
Harrisburg, PA 17106-0610

Send Consolidation related letters and correspondence to:
FedLoan Consolidation Department
P.O. Box 69186
Harrisburg, PA 17106-9186

By fax

FedLoan fax number:
1-717-720-1628

Online

FedLoan website: https://myfedloan.org/

FedLoan login: https://accountaccess.myfedloan.org/authentication/signIn.html?fingerprinted=true

FedLoan social media:

FedLoan mobile apps:

How to submit a complaint about FedLoan

If you are having problems with FedLoan, there are several ways to file a complaint.

FedLoan's The Office of Consumer Advocacy

You can file a complaint directly with The Office of Consumer Advocacy at FedLoan's operating company, the Pennsylvania Higher Education Assistance Agency.

The complaint can be mailed, or you can reach them by phone.

The Office of Consumer Advocacy:
Pennsylvania Higher Education Assistance Agency
The Office of Consumer Advocacy
1200 North 7th Street
Harrisburg, PA 17102

FedLoan phone:
1-800-213-9827
Monday - Friday, 8 a.m. - 5 p.m. (Eastern Time)

U.S Department of Education Federal Student Aid Feedback System

You can file a complaint with Federal Student Aid at the U.S. Department of Education through their feedback system. File a complaint here.

Better Business Bureau (BBB)

You can also file a complaint with the Better Business Bureau (BBB), a private, non-profit organization that accredits and rates businesses. File a complaint here.

Complaints filed with the BBB are forwarded to FedLoan within two business days, and FedLoan will be asked to respond within 14 days. If FedLoan does not respond, the BBB will reach out to them again.

BBB complaints are generally closed within 30 business days.

U.S Department of Education Federal Student Aid Ombudsman Group

As a last resort, you can contact the Federal Student Aid Ombudsman Group, a confidential resource to help resolve disputes about your federal student loans. File a complaint here.

The Federal Student Aid Ombudsman Group can help you resolve problems with loan balances and payments, disbursements, overpayments, and more.

They provide an information checklist to help prepare for your conversation.

Federal Student Aid Ombudsman Group address:
U.S. Department of Education
FSA Ombudsman Group
P.O. Box 1843
Monticello, KY 42633

Federal Student Aid Ombudsman Group phone:
1-877-557-2575

Federal Student Aid Ombudsman Group fax:
606-396-4821

FAQ

Is FedLoan a federal loan?

FedLoan does not originate loans. Rather, it services federal student loans.

Is FedLoan federal or private?

FedLoan is a private company that is a federal student loan servicer. It is not a U.S. federal organization, but it does work with the U.S. Department of Education to manage student loans.

For example, FedLoan will send loan payment bills, receive loan payments, and work with you on loan consolidation and repayment plans.

Is FedLoan a government agency?

No, FedLoan is a private company that works with the government to service student loans.

Federal student loan servicers

There are nine federal student loan servicers. Learn more about who they are, what they do, and how to contact them.