Nelnet Begins Servicing Direct Loans
The Department announces that it began assigning Direct Loans to Nelnet on June 23. This means that the Direct Loan Servicing Center (ACS) and Nelnet are the two federal loan servicers that will currently be assigned new Direct Loans. The Department anticipates that it will begin assigning Direct Loans to the other three servicers-FedLoan Servicing (PHEAA), Great Lakes Educational Loan Services, Inc., and Sallie Mae-in the coming weeks. The Department will inform the community of each servicer’s start through an Electronic Announcement on the IFAP website. As is true with any loans assigned to our federal loan servicers, Nelnet will correspond with each Direct Loan borrower upon assignment of a Direct Loan. In this correspondence, the borrower will be provided with required information about his or her new Direct Loan and information about how to contact Nelnet.
Read the whole article originally published in: Today's News from NASFAA.