Hey there! I'm not sure what to do and I need some help. My Sallie Mae loan is in some serious default. In an effort to attempt to get it current I called to make a payment and they're saying that I no longer have a loan with them but they didn't give me any information as to who I now owe that money to. I pulled my credit report and all it says is that my Sallie Mae loan has been "permenantly assigned to government." So....who do I call? Anyone been in my shoes before? I just want to try and start paying off my debts but it seems like its hard just figuring out where I'm supposed to send my money! Frustrating! Also, does being "assigned to government" mean that I've missed my opportunity for rehabilitation? Thanks..
Assigned to the government means you have defaulted on your loans. Sallie Mae has sent the debt back to the government, and they will be assigning it to one of their partner collection agencies to attempt to get it paid back. You'll work with the CA on your rehabilitation, and if you complete rehab, your loan will be sold back to a regular lender (possibly Sallie Mae, maybe another) for you to finish paying off.
Go to NSLDS.gov and log in, that will show you all of the federal loans you have taken out. If you click on the number for each loan, it will take you to a detail page that lists the current loan holder. If the transfer happened very recently, it might take a bit for the debt to be assigned to a CA.
Thanks so much! I had no idea where to find my loan since it had been transferred. This helped a lot. Just FYI for anyone looking to benefit from this post...it is actually NSLDS.ed.gov
I was in the same boat a couple years ago and got rehabilitated and all my student loans were assigned to a new lender about a year ago.
Problem is, the old student loan place still shows up as 'assigned to government' which is hurting my scores still. I'm honestly not sure if there is anyway to fix this or not since the old student loan was rehabilitated and assigned to a new student loan company.
Unfortunately, the amount of negative information that is removed from your report when you rehab varies from lender to lender. Any reporting by the collection agency you worked with should definitely be removed when you complete rehab. You should also see the "default" status removed from the original loans, but the late payment marks on those loans may not be removed. Once the new lender purchases your loan, you should see a new "clean" tradeline for the new loan.
If the default status hasn't been removed from your original lender, I would contact them and ask if they can adjust that since you completed your rehab successfully.