topic Re: Cornerstone to FedLoan Servicer in Student Loans

Cornerstone to FedLoan Servicer

ChemE_Bear — Tue, 17 Nov 2020 20:57:08 GMT

I was notified last month that my student loan servicer was being changed from Cornerstone to FedLoan. I downloaded all of my payment history in the event they were not transferred to FedLoan. My loans are now not viewable at Cornerstone but they are also not viewable on FedLoan. Previous communication indicated my loans were being transferred on 11/9, my automatic bill payment information would be transferred and FedLoan would be in contact with me. I created an account with FedLoan but no loans are showing yet. Thankfully, I am paid ahead so I'm only mildly concerned at the delay in being able to access a way to pay my loans and view their status. Is anyone else going through a servicer change? How long did it take for your new servicer to contact you or for your loans to show up on your online account?

Re: Cornerstone to FedLoan Servicer

jmos — Thu, 19 Nov 2020 22:09:31 GMT

Hello @ChemE_Bear . All I can say is that I'm experiencing the same issue with FedLoan Servicer as well. You are not alone . At this time, I'm not able to see anything on the FedLoan and/or CornerStone sites. I'm thinking that our loan information has not technicallu transferred and updated to the new FedLoan site yet.?

Re: Cornerstone to FedLoan Servicer

ChemE_Bear — Thu, 19 Nov 2020 22:16:25 GMT

@jmos wrote:
Hello @ChemE_Bear . All I can say is that I'm experiencing the same issue with FedLoan Servicer as well. You are not alone . At this time, I'm not able to see anything on the FedLoan and/or sites. I'm thinking that our loan information has not technicallu transferred and updated to the new FedLoan site yet.?

Thanks for responding! Yes, I assume its some sort of issue like that. Did you have automatic payment set up?

Re: Cornerstone to FedLoan Servicer

jmos — Thu, 19 Nov 2020 22:41:17 GMT

Hi @ChemE_Bear

No, I did not have automatic payments set up on mine.

Re: Cornerstone to FedLoan Servicer

ChemE_Bear — Thu, 19 Nov 2020 22:45:09 GMT

Oh, that's even more stressful. Have you tried contacting FedLoan via phone to see if there is just a delay in the loans showing up online?

Re: Cornerstone to FedLoan Servicer

jmos — Thu, 19 Nov 2020 22:50:18 GMT

No, at this time, I have not tried to reach them.

Re: Cornerstone to FedLoan Servicer

calyx — Fri, 20 Nov 2020 19:06:57 GMT

Dangit, I totally forgot to download my payment history. I do have proof on the other side (from my bank), so I have that going for me.

I also do not have any information in my Cornerstone account and haven't heard anything further re: Fedloan, but I was able to make an account (and they had the right info in there), so I hope it goes smoothly. I guess it's a good time to have this kind of migration, if you have not opted out of the CARES act stuff, them screwing up won't (immediately) mess up your credit report/file.

Re: Cornerstone to FedLoan Servicer

ChemE_Bear — Sun, 22 Nov 2020 21:55:47 GMT

Hey my loans are showing up on FedLoan now so you'll probably see yours soon if you don't already see them. @jmos @calyx My previous payment history is not there and they are listed as in Forbearance AGAIN so I get to ask to have that taken off a third time.

Re: Cornerstone to FedLoan Servicer

calyx — Mon, 07 Dec 2020 16:32:44 GMT

My loans did show up in the MyFedLoan portal, and Saturday I received a letter from FedLoan telling me they were taking over my servicing (thanks, guys).

Re: Cornerstone to FedLoan Servicer

calyx — Fri, 12 Feb 2021 19:14:51 GMT

As of today, FedLoan is finally showing up on my reports.

Got the notification from TU, I would expect the others to follow in short or long order.

Re: Cornerstone to FedLoan Servicer

ChemE_Bear — Fri, 12 Feb 2021 21:47:49 GMT

Same here!

@calyx wrote:
As of today, FedLoan is finally showing up on my reports.

Got the notification from TU, I would expect the others to follow in short or long order.

Re: Cornerstone to FedLoan Servicer

ccquest — Mon, 15 Feb 2021 00:19:39 GMT

I've had FedLoan behind my Citizen's loans for awhile now and they've been great for me. I have auto pay set up of course, but when I've had questions or wanted to change things on my account, they are pretty easy to get ahold of and talk to on the phone. Just a word of reassurance

Re: Cornerstone to FedLoan Servicer

calyx — Mon, 15 Feb 2021 13:24:13 GMT

Thanks for your vote of confidence @ccquest

I had PHEAA (aka FedLoan) a long time ago, and they were truly, truly awful, so there's no love lost there for me, but I'll definitely stay on top of them if I think there are any issue (i also have things on auto).

Re: Cornerstone to FedLoan Servicer

ccquest — Mon, 15 Feb 2021 14:28:27 GMT

@calyx wrote:

I had PHEAA (aka FedLoan) a long time ago, and they were truly, truly awful, so there's no love lost there for me, but I'll definitely stay on top of them if I think there are any issue (i also have things on auto).

Welp, you just made me realize I completely misread everything here. I have Firstmark / Nelnet and not sure how I read FedLoan the same -.-