Beginning July 1, 2010, the U.S. Department of Education contracted with several entities to provide loan servicing for borrowers of Federal Direct Subsidized, Federal Direct Unsubsidized and Federal Direct Parent (PLUS) Loans. It is possible that student and parent borrowers from the same family will have their respective loans serviced by different entities. These loans are sent to an entity for servicing once a promissory note has been completed and a disbursement is made on the loan. If a student or parent receives a contact from one of the entities listed below, it is important to follow-through on any requests made by these servicers.
Students and parents can look up their complete loan history including the servicers for each loan at http://www.nslds.ed.gov/. Access to this site requires the user to have their Department of Education FSA ID.
Each year we receive several inquiries regarding student loan consolidation. Consolidation of Federal student loans is offered at NO COST to borrowers if done through the U.S. Department of Education. Information and application materials are available online at https://studentloans.gov/myDirectLoan/launchConsolidation.action. The following are a few additional facts about student loan consolidation: