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FedLoan Replacement

Jshepherd04
Established Member

Re: FedLoan Replacement

I've been patiently waiting also. Just got my email this morning that my loans are going too AidAdvantage, skipping Navient also.

Starting FICO8 Score on 01/2021: EQ-540, TU-540, EX-540
Current FICO8 Score on 12/2021: EQ-678, TU-697, EX-668
Current FICO9 Score on 12/2021: EQ-678, TU-697, EX-668
Goal FICO8 Score: EQ-720, TU-720, EX-720

Credit Cards
Discover IT (1/15/2021) - $1,500 SL
Capital One QuickSilver (3/4/2021) - $300 SL
NFCU Cash Rewards Mastercard (4/12/2021) - $2,000 SL
Oportun Visa (5/16/2021) - $1,000 SL
NFCU Cash Rewards Visa (5/31/2021) - $23,000 SL
Lowes Advantage (9/3/2021) - $6,000 SL
Good Sam Visa (9/8/2021) - $500 SL
Directions CU Rewards Visa (9/9/2021) - $1,000 SL
Synchrony Preferred Mastercard (10/22/21) - $1,500 SL
Total CL - $36,800
Credit Accounts
Self Credit Builder (1/16/2021)
Kickoff (2/19/2021)
Fingerhut (3/20/2021)

PenFed Auto Loan at 4.4% APR(12/26/2021)

Message 31 of 37
Limitless3000
Member

Re: FedLoan Replacement

I have received a notice that FED Loan will no longer service student loans. They have not informed me who my new provider may be. I am afraid. I submitted document for the loan forgiveness program and it states that they are reviewing my information & that it may take several months to process. That's crazy because I may have a new provider in a few months. I hope my already credited years of service isn't lost of messed up.   Smiley Sad


Starting Score Fico 8: EX664 EQ671 TU654
Current Score: EX664 EF671 TU654
Goal Score: 750+ Across All


Take the myFICO Fitness Challenge

Message 32 of 37
calyx
Super Contributor

Re: FedLoan Replacement



@Limitless3000FedLoan has received a one year extension of its contract - don't worry yet (I also have FedLoan and follow SL news pretty closely).

F8 EQ: 807 | EX: 785 | TU: 790 | Accounts: 1/6 3/12 6/24 | Reporting: AZE8
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 33 of 37
KristinaQ86
Member

Re: FedLoan Replacement

Mine went to Nelnet... according to CK fed loans reported mine closed yesterday and my CK scores dropped about 100 points... will probably get pummeled again once nelnet re-reports as "new" debt. Im sick to my stomach over this. We just finally got mortgage ready and were expecting to start home shopping in the next few months. The timing could literally not be worse.

Message 34 of 37
pizza1
Community Leader
Super Contributor

Re: FedLoan Replacement

Well , fedloan reported closed/ transferred on my reports. Mohela hasn’t reported yet😔


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013...I'm in the home stretch now!
Message 35 of 37
Limitless3000
Member

Re: FedLoan Replacement

@calyx  Thanks 


Starting Score Fico 8: EX664 EQ671 TU654
Current Score: EX664 EF671 TU654
Goal Score: 750+ Across All


Take the myFICO Fitness Challenge

Message 36 of 37
ccquest
Established Contributor

Re: FedLoan Replacement


@KristinaQ86 wrote:

Mine went to Nelnet... according to CK fed loans reported mine closed yesterday and my CK scores dropped about 100 points... will probably get pummeled again once nelnet re-reports as "new" debt. Im sick to my stomach over this. We just finally got mortgage ready and were expecting to start home shopping in the next few months. The timing could literally not be worse.


If it makes you feel better, Credit Karma scores aren't entirely representative of what your mortgage company would see.

 

Depending on what sort of accounts you have, you may have lost all of your "credit mix" with installment loans so once the new one reports it may go right back up again.

as of 11/29/21
Current Cards:
Message 37 of 37
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