Congratulations on graduating! That is truly exciting; now is the time for you to step forward as an established professional and start living your dreams. Congratulations again on achieving such a great feat.
MyFedLoan has developed an FAQ page in response to customer inquiries and complaints. Take a few seconds and read it. You might just find answers right away.
MyFedLoan Frequently Asked Questions
Q. What is MyFedLoan?
Ans. MyFedLoan is a non-profit organization administered and overseen by the Pennsylvania Higher Education Assistance Agency (PHEAA).
Q. What types of loans does MyFedLoan Service provide and offer?
Ans. Federal Direct Loans, as well as loans made under the previously discontinued Federal Family Education Loan (FFEL) program, can be obtained at FedLoan Services. These include both subsided and unsubsidized direct loans, as well as PLUS loans and consolidation loans.
Q. What has happened to my Public Service Loan Forgiveness accounts and progress?
Ans. Responsibility for Public Service Loan Forgiveness (PSLF) has now been transferred from FedLoan and their servicers over to New FedLoan Services; your account information, qualifying payment details, and qualifying payments have also been transferred over.
Q. Who do I contact regarding issues with my previous MyFedLoan account?
Ans. If you’re experiencing account-related difficulties related to earlier loans with FedLoan, call customer support for the appropriate federal loan servicer and request their assistance.
Q. Which student loans qualify for forgiveness?
Ans. If your credit has been in repayment for over 25 years, the loan could qualify for immediate forgiveness through IDR forgiveness. Borrowers who reach 20–25 years worth (240 or 300 months) of eligible repayments could see their loans canceled once they meet these milestones.
Q. Does MyFedLoan Legal offer services?
Ans. In short, yes—as long as it meets legal criteria, it should. There is no need to worry here.
Q. How Can I Utilize MyFedLoan?
Ans. MyFedLoan provides you with access to some of the top applications.
- Pay off the student loan.
- Select an affordable repayment plan.
- It’s possible to keep loan payments low as long as payments remain under constant monitoring.
Q. Can I change the due date for my loan?
Ans: Yes, it is possible to modify your loan due date.
Q. How can I reach MyFedLoan Customer Service?
Ans. To call this number on Mondays and Fridays between 8 am and 9 pm (EST), dial 1-800-433-3243. Note that this phone number can only be accessed between these times.
Q. Why am I being charged as a student?
Ans. If you have recently transferred schools, your status might have become outdated in MyFedLoan. If this is the case for you, make your payment as soon as you can (advised) or request general forbearance using the Trouble Paying section. Once this status has been altered in their system, you won’t be charged anymore.