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Student Loan Servicer

Cory88
Contributor

Student Loan Servicer

I have some loans edfinancial they seem to be ok. Is their any loan servicers that are better when I consolidation the loan?

Message 1 of 7
6 REPLIES 6
calyx
Super Contributor

Re: Student Loan Servicer

 

I would suggest you just check out reviews of all of the ones you might consider.
When I consolidated, having a human to talk to was one of my requirements, so I chose a servicer that (reportedly) had people that were easier to get ahold of < so, whatever works for you.   Most servicers (I imagine) have more bad reviews than good.


I liked the servicer I chose, but they cancelled their contract.
if I understand correctly, Trellis is a new (official) servicer, and I liked them when I had them with my loans "back in the day"

 



F8 EQ: 809 | EX: 802 | TU: 805 | Accounts: 1/6 4/12 6/24
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 2 of 7
ccquest
Established Contributor

Re: Student Loan Servicer

Another point is if you're interested in possibly pursuing PSLF, it could be good to just get with FedLoan during consolidation now instead of having to transfer later.
as of 4/1/21
Current Cards:
Message 3 of 7
calyx
Super Contributor

Re: Student Loan Servicer

All Dept of Ed servicers offer PSLF and other forgiveness options as long as they're direct.   It doesn't just have to be with FedLoan/PHEAA.



F8 EQ: 809 | EX: 802 | TU: 805 | Accounts: 1/6 4/12 6/24
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 4 of 7
ccquest
Established Contributor

Re: Student Loan Servicer


@calyx wrote:

All Dept of Ed servicers offer PSLF and other forgiveness options as long as they're direct.   It doesn't just have to be with FedLoan/PHEAA.


I thought processing for forgiveness is only done by FedLoan? Everything I've read says once you submit a ECF it triggers a transfer of the loans to FedLoan.

 

edit » yeah, the Student Aid website confirms it.

 

Once you’ve filled out the PSLF form, you can send it to FedLoan Servicing.* You may mail the form to this address: U.S. Department of Education FedLoan Servicing P.O. Box 69184 Harrisburg, PA 17106-9184 You may also fax your PSLF form to 717-720-1628. If FedLoan Servicing is already your servicer, you may upload your PSLF form on FedLoan Servicing's website. *FedLoan Servicing, one of the federal loan servicers, administers the PSLF Program on our behalf.
as of 4/1/21
Current Cards:
Message 5 of 7
calyx
Super Contributor

Re: Student Loan Servicer



@ccquest 

 

My mistake - I hadn't realized they did all of the PSLF.  Thanks for the correction! Smiley Embarassed  Smiley Happy



F8 EQ: 809 | EX: 802 | TU: 805 | Accounts: 1/6 4/12 6/24
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 6 of 7
ccquest
Established Contributor

Re: Student Loan Servicer

I wish it wasn't! It's got me caught in a spot where I'm wondering on the best time to submit my ECF and get switched over. I've had no issues with Great Lakes at all, but I know I'll need to get transitioned at some point and when that happens, there's an administrative forbearance until the transfer is complete that I'm afraid would override this current COVID forbearance and make me miss out on some free qualifying payments.
as of 4/1/21
Current Cards:
Message 7 of 7
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