Sentences with phrase «collect federal student loan payments»

Not exact matches

In general, if you borrowed a federal loan, your lender is the federal government, which means you may have a servicer who was hired to collect your student loan payment.

But government regulators, lawmakers and consumer advocates have voiced a host of concerns about the practices of companies that collect payments on student loans on behalf of the federal government and private lenders.

The U.S. Department of the Treasury, at the request of the U.S. Department of Education, can withhold money from your federal income tax refunds, Social Security payments, and other federal payments to collect your defaulted federal student loan.

Loan servicers collecting payments on federal direct government student loans now have incentives to prevent borrower defaults.

Since the passage of a new law that will give loan servicers collecting payments on federal student loan debt the right to «robocall» more debtors, there's been an onslaught of news stories decrying the potential for abuse.

The non-reported timing of the discovery is raising new questions about the Department of Education's decision to reward Sallie Mae with another five - year extension of its existing generous contract to collect payments on federal student loans.

Evidence from Federal Investigations have shown that Sallie Mae cheated active - duty military service members on their federal student loans at least 60 days prior the Education Department told the company that it was still planning on renewing its lucrative contract to collect student loan paFederal Investigations have shown that Sallie Mae cheated active - duty military service members on their federal student loans at least 60 days prior the Education Department told the company that it was still planning on renewing its lucrative contract to collect student loan pafederal student loans at least 60 days prior the Education Department told the company that it was still planning on renewing its lucrative contract to collect student loan payments.

Note there could be other benefits to enrollment (assuming half - time, still working full time at employer): if Sally has federal student loans, she no longer has to make payments, and her subsidized ones no longer collect interest.

EDUCATION DEPARTMENT FORGES AHEAD WITH STUDENT LOAN SERVICING OVERHAUL: The Trump administration has signaled it will move ahead with an Obama - era plan to select a loan servicing company to build a new streamlined platform to collect all federal direct student loans to make it easier for students to make monthly paSTUDENT LOAN SERVICING OVERHAUL: The Trump administration has signaled it will move ahead with an Obama - era plan to select a loan servicing company to build a new streamlined platform to collect all federal direct student loans to make it easier for students to make monthly pastudent loans to make it easier for students to make monthly payments.

-- Education Secretary Betsy DeVos last month rolled back Obama - era directives that envisioned a new system for collecting payments from federal student loan borrowers, including the customer service standards those companies would be expected to meet.

Once the federal government or a private lender originates a student loan, a third party, the student loan servicer, is hired to collect payments and handle any problems regarding the loan.

All of these legal proceedings continue to bog down Navient, which is in the midst of trying to secure a contract with the Trump administration to continue collecting payments from federal student loan borrowers.

A federal student loan enters default when a borrower fails to make a payment on it for 270 consecutive days.9 When this happens, the borrower's loan is transferred from the student loan servicer — a private contractor responsible for collecting payments on behalf of the federal government — to the Debt Management Collections System.10 Borrowers then have 60 days to come to a repayment arrangement with the Education Department.