Sentences with phrase «servicer on behalf of the federal government»
You might find that you have a Navient student loan after graduation; this simply means that Navient acts as the loan servicer on behalf of the federal government.
https://www.creditsesame.com/ Not exact matches
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.