12-14-2012 07:20 AM
Can anyone explain the hierarchy of which organization owns or is connected with student loans? I have heard from Sallie Mae, Student Assistance Corporation, ACSI, Nelnet, and Windham Professionals. When I contact Sallie Mae, they continue to state they don't recognize these other companies. I paid money to Windham and never saw it applied to my Sallie Mae loan, which as far as I'm aware, is the only student loan I have. However, I attended University of Phoenix, so there is no telling what was done there financially. UoP is trying to bill me even though they were paid in full before I left (but that's another battle for another day). Any information would be greatly appreciated. Thanks!
12-16-2012 12:10 PM
Those are all organizations that handle federal student loans. From what I know, Sallie Mae and Nelnet are loan servicers, meaning they handle federal student loans that are in good standing. Once those loans go into default, they are often placed with collection agencies like SAC, ASCI and Windham.
Have you logged into the National Student Loan Data System? That will show you all of the federal student loans you have taken out, and who is currently servicing them.
For private loans, you'll have to look for documentation from that specific lender, and a place to start would be your own credit report and any information you got from your school's financial aid department.
If I were you, step 1 would be to visit NSLDS.gov, check my credit report and pull together EVERYTHING I received regarding my financial aid to build a complete picture of what was borrowed, what has been paid, and what is still owed. That will help you resolve your issues with UoP and begin to sort out who to work with to get you student loans back into good standing.