Who Owns My Student Loans?

Staying on top of your debt is nearly impossible if you don’t know who owns your student loans.

Knowing your loan balance, monthly payment and repayment options is critical if you want to pay off the loans faster, need to lower payments or temporarily stop making them altogether.

Here’s how to determine who owns your student loans, so you’re prepared for whatever comes next.

Lenders vs. loan servicers

The federal government or a commercial entity owns your student loans.

Private companies own all private loans. The Department of Education holds most federal loans.

Both the Department of Education and private institutions partner with third parties called loan servicers. Loan servicers manage your student loans by handling billing statements, payment inquiries and other administrative tasks. If you have any questions about your account, they are who you call.

Loan servicers can change often, so keep your contact information current to stay up to date on who services your loan.

How to…

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This article was written by Trea Branch and originally published on www.nerdwallet.com