April 6, 2010

Servicing FAQs for Federally-Owned Loans

ED recently announced an updated overview of how they’re servicing federally-owned loans, titled Questions and Answers About Servicing Federally-Owned Loans. The questions and answers are organized in three sections:

• Section 1 - Approach to Servicing Federally-Owned Loans
• Section 2 - New Federal Loan Servicers
• Section 3 - Servicing FFEL Purchased Loans

The announcement also included School Support Services (SSS) resource packages for the new federal loan servicers. These documents focus on the delinquency and default prevention each of the new servicers is providing to customers.