A free inside look at company reviews and salaries posted anonymously by employees. This site may be compensated through our partner relationships. Some people have waited six months or more for decisions on these programs. FedLoan Servicing consumer reviews, complaints, customer service. The company understands every applicant's unique financial story to offer the lowest possible rates and radically flexible loan options for living life. I left that non-profit to join another and was ready to have all debt forgiven in October 2017. SoFi has some of the lowest interest rates and, unlike the other lenders we reviewed, there's no maximum on the amount you can finance. If you don't have an FSA ID, there's an option to create one. In 2015, the U.S. Department of Education performed an audit on the TEACH grant program and found that more than 10,000 grant recipients had their grants converted to loans because of errors made by the loan servicer. Your email address will not be published. Their grants were converted to loans because of minor errors, like paperwork mistakes. Government Organization. Here's the scoop: FedLoan Servicing is a legit company. The information obtained throughout the Nitro site is intended to be used for educational purposes only. Sharing is caring! They are approved by the Department of Education, and Fedloan Servicing maintains a staff of dedicated loan counselors. A 2018 Reddit query about other people’s experiences with FedLoan Servicing, brought numerous replies. FedLoan is part of the Pennsylvania Higher Education Assistance Agency (PHEAA). Is MyFedLoan Legit? If you've been contacted by a company about your student loans, watch out for these red flags: See also: Student Loan Payoff Scam Alert: 5 Red Flags to Look Out For. American Click here to see more of Splash's offerings and to see how you can save money. Borrowers being denied forgiveness, when they are in fact eligible. Pennsylvania Higher Education Assistance Agency (PHEAA) being the parent company of Fedloan created in 2009. Does it match up? hbspt.cta._relativeUrls=true;hbspt.cta.load(2241837, '1bba719e-199b-4f63-ad8c-62f08c891624', {}); © 2020 Nitro College. All product names, logos, and other trademarks displayed within the Nitro site are the property of their respective owners. Despite being based in Philadelphia, PHEAA and FedLoan Servicing operate all across the United States. Best Options to Refinance Your Student Loans, How to make a payment and repay student loans with FedLoan, Applying extra payments to your FedLoan student loans, Are a working graduate with a loan that has high interest, Have unsubsidized Direct Loans or Graduate PLUS Loans. Related Pages. card applicants in the to send a simple be considered "in writing." Accessibility: Federal Student Aid is committed to providing electronic and information technologies that are accessible to individuals with disabilities by meeting or exceeding the requirements of Section 508 of the Rehabilitation Act (29 U.S.C 794d). What are the main … Lakshya Dharamdasani April 7, 2019. Recently Fedloan is connected with a major scandal affecting many borrowers and … The letters, titled "INFORMATION ABOUT YOUR TEACH GRANTS THAT WERE CONVERTED TO DIRECT UNSUBSIDIZED LOANS," began with a wordy paragraph that sounded like a standard form letter and failed to emphasize that a serious mistake had been made by a loan servicer. Yes, Fedloan is a legit servicing company for Student Loans. Splash Financial is in all 50 states and is intensely focused on customer service. Save thousands on your student loans and pay off your loans sooner. 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