Managing your student loans can be confusing, but MyFedLoan is here to help. Below are answers to some frequently asked questions to make your experience smoother.
1. Is FedLoan Servicing Legitimate?
Yes, FedLoan Servicing is a legitimate, non-profit organization operated by the Pennsylvania Higher Education Assistance Agency (PHEAA). It’s an approved loan servicer for federal student loans.
2. What Services Does MyFedLoan Offer?
MyFedLoan provides a variety of tools and services to assist borrowers, including:
- Loan Payments: Make payments toward your student loans online or by mail.
- Repayment Plans: Choose a repayment plan that fits your financial situation, including income-driven options.
- Loan Tracking: Monitor your progress in repaying your loans through your online account.
3. Can I Change My Loan Due Date?
Yes, you can request to change your loan due date. Here’s how:
- You must be in active repayment.
- Ensure your first loan payment has been made on time.
- Request a new due date between the 1st and 28th of the month through your account or by contacting customer service.
4. How Do I Contact MyFedLoan Customer Service?
You can reach MyFedLoan customer service via:
- Phone: Call 1-800-699-2908. Their hours are Monday through Friday, 8 a.m. to 9 p.m. EST.
- Online Account: Log in to your account for messaging and self-service options.
5. Why Am I Still Receiving Bills While in School?
If you’re enrolled in school but still receiving bills, it may be due to a delay in updating your enrollment status. Here’s what you can do:
- Make a Payment: If possible, make the payment to stay on track.
- Request Forbearance: If you can’t make the payment, request a General Forbearance through the “Trouble Paying” section of your online account.
Once your status is updated, billing should stop.
Key Tips for Managing Your Loans
- Stay Organized: Keep a record of all communications and payments.
- Use Online Tools: Log in to your MyFedLoan account for 24/7 access to your loan details.
- Be Proactive: Contact support immediately if you encounter any issues or discrepancies.
For more detailed information, visit the MyFedLoan FAQ page.