Borrowers with government-held federal student loans serviced by Great Lakes Higher Education have been transferred to Nelnet. Borrowers with government-held federal student loans serviced by Navient have been transferred to Aidvantage.Borrowers on track for Public Service Loan Forgiveness who were with FedLoan Servicing have been transferred to MOHELA.The department’s federal student loan servicing system has undergone significant changes during the last several years: Loan servicers are companies and agencies contracted by the Education Department to handle the day-to-day operations of student loans including taking payments, processing paperwork, and fielding borrower inquiries. That’s because millions of borrower accounts have been transferred to new loan servicers since 2020. The Consumer Financial Protection Bureau, a federal watchdog agency that oversees the financial services industry, is warning that many borrowers will face new complications when they return to repayment. Student Loan Servicing Changes Could Complicate Return To Repayment
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