Are these student loan forgiveness calls legit?
Scammers use fake seals and logos to lure people in. They promise special access to repayment plans, new federal loan consolidations, or loan forgiveness programs. It’s a lie. If you have federal loans, go to the Department of Education directly at StudentAid.gov.
Why did I get a check from Nelnet?
A refund check is money that is directly given to you from your school, but it’s not a gift. It is the excess money left over from your financial aid package after your tuition and fees have been paid. So for most students, that means a refund check is leftover student loan money…
Is Elfi a good lender?
NerdWallet rates ELFI as a five-star lender for refinancing student loans based on more than 50 data points. ELFI is a good option for borrowers who value customer service.
Is Navient and Nelnet the same?
Federal student loan servicers, such as Nelnet and Navient Corp., are companies that collect payments, respond to customer service inquiries and perform other administrative tasks on behalf of the U.S. Department of Education.
What is the student loan forgiveness Center?
The PSLF Program was established to encourage individuals to work in public service by forgiving the remaining balance of their Direct Loans after they have made 120 qualifying payments while employed by a qualifying employer.
Is Navient student loan forgiveness real?
While no federal student loans are being forgiven or cancelled under the settlement agreement with Navient, many borrowers will receive a modest financial award called restitution. About 350,000 borrowers will be eligible for around $95 million in restitution, which comes out to around $260 to $270 per borrower.
Is Nelnet a federal or private loan?
Nelnet is a federal student loan servicer working on behalf of the U.S. Department of Education, the government agency that lends you or your child student loans.
What happened to Nelnet?
Due to the government’s new Next Gen Business Process Operations initiative, Great Lakes and its parent company Nelnet will no longer service federal student loans after December 2020. If Great Lakes is your current loan servicer, The Department of Education will assign you a new loan servicer.
Does LendKey have a prepayment penalty?
Does LendKey have a prepayment penalty? No. LendKey doesn’t penalize borrowers for paying off their loans early.
Is Elfi a federal student loan?
Education Loan Finance, also known as ELFI, is a student loan program offered by Tennessee-based SouthEast Bank since 2015. The company offers private student loans and refinancing for private and federal student loans.
Is Navient going out of business?
In 2020, the US Department of Education announced changes to loan servicing in an effort to modernize the federal student loan system. Navient, along with FedLoan and Granite State, opted to end their participation in federal student loan servicing at the end of 2021.
Is there really a Navient lawsuit?
Navient, one of the largest student loan servicing companies in the US, has made a $1.85bn settlement with a coalition of attorneys general who accused the company of predatory loan practices.
What is a federal student loan?
Federal student loans offer flexible repayment plans, loan consolidation, forgiveness programs, and more. We can help you manage repayment and answer any questions you have along the way.
How do I contact the US Department of Education Student Loan Office?
Media who are interested in joining the call may dial 800-857-9712. The U.S. Department of Education today announced the official FY 2011 two-year and official FY 2010 three-year federal student loan cohort default rates (CDR).
How can we help you manage student loan repayment?
We’ll help you manage the repayment process. Federal student loans offer flexible repayment plans, loan consolidation, forgiveness programs, and more. We can help you manage repayment and answer any questions you have along the way. Finding financial aid can seem overwhelming when you’re trying to get ready for college or career school.
How much will you receive in automatic student loan discharge?
Over 323,000 borrowers who have a total and permanent disability (TPD) will receive more than $5.8 billion in automatic student loan discharges due to a new regulation announced today by the U.S. Department of Education.