Winter 2010 Online Publication    



Perspectives
    Message from the Chair
Association News
    Conference Committee
    Conference Raffle
    Awards & Scholarships
    Nominations & Elections
    Federal Relations Committee
    Maryland State Report
Special Features
    Easing Holiday Debt
    Servicer Information
    Cohort Default Rate
    Put Social Media To Work
    Tri-State Member News


PUBLICATION SCHEDULE
Issue Due Date
Fall
9/15
Winter 12/01
Spring 04/15
Summer 06/30

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Renee Weekes
Finding Servicer Information for PUT Loans

Submitted by: Gene Logan, USA Funds Services

If you are seeing fewer loans on the student loan delinquency reports you get from your guarantor, it could be to the result of your hard work. But more than likely some loans are being put to the U.S. Department of Education and are being reported in different formats by their new servicers.

The Ensuring Continued Access to Student Loans Act of 2008 permits holders of Federal Family Education Loan Program loans to sell or put loans to the Department of Education to provide financing for new student loans.

To determine the servicer for individual put loans, go to the National Student Loan Data System (www.nslds.ed.gov). NSLDS will be updated to include servicer information within approximately seven to 10 business days after the loan is assigned to a servicer.

The chart below shows how NSLDS will display the servicer, as well as the borrower contact phone number and Web site.

Servicer Name NSLDS Servicer Name NSLDS Servicer Code Borrower Contact Information
Dept. of Education Student Loan Servicing Center (ACS) DEPT OF ED/ACS 700577 (800) 508-1378
www.ed-servicing.com
FedLoan Servicing (PHEAA) DEPT OF ED/FEDLOAN SERVICING (PHEAA) 700579 (800) 699-2908
www.myfedloan.org
Great Lakes Educational Loan Services, Inc. DEPT OF ED/GREAT LAKES 700581 (800) 236-4300
www.mygreatlakes.org
Nelnet DEPT OF ED/NELNET 700580 (888) 486-4722
www.nelnet.com
Sallie Mae DEPT OF ED/SALLIE MAE 700578 (800) 722-1300
www.salliemae.com

Helping borrowers become more familiar with NSLDS is an excellent way to minimize confusion when repayment starts. NSLDS will be the system of record to show where FFELP and direct loans are held.




Easing Holiday Debt Cohort Default Rate