Posted by FedLoan Servicing was founded in 1963 by the Pennsylvania Higher Education Assistance Agency (PHEAA). It was established to support the U.S. Department of Education’s ability to service student loans owned by the Federal Government. FedLoan is committed to supporting borrowers with easy and convenient ways to manage their student loans.
According to research, Fed Loan is among one of the nation’s leading student aid organizations. PHEAA, the founder of FedLoan, is a national provider of student financial aid services. It has served tons of students and several numbers of schools through its loan guaranty, financial help processing, outreach, and other student aid programs.
Meanwhile, FedLoan’s main goal is to help students repay all their loans. They provide you with all the available resources to help you pay your student loans smartly. FedLoan helps you understand the life cycle of a loan which will help you in the long run to make decisions about your student loans.
In addition, with FedLoan you can calculate your interest and see if you are qualified for Loan Forgiveness. You can also use its Manage Repayment Tool to estimate or find a repayment plan you can afford.
Is FedLoan Legit
Yes, FedLoan is one of the legitimate companies that have been contracted by the United States of America Department of Education to handle the Federal Student Loans. As stated above, FedLoan was established by the Pennsylvania Higher Education Assistance Agency PHEAA. The company has served millions of students and thousands of schools by providing them with different student aid programs.
As you know, most borrowers don’t make payments on their loans while in school. This company gives you the tools to stay informed on your loan balances, interest accrual, and many more. It also provides you with available resources to start paying your loans and when paying your loans. You can also find important information to help you during your repayment. In conclusion, MyFedLoan Servicing is legit and is one of the surest Student loan servicers.
How to Sign Up for FedLoan Servicing
To access or use FedLoan Servicing Services, you will need to sign up for a Free Membership account with the platform. Below are the steps and guidelines to follow to sign Up for an account;
- Open your PC web browser
- Visit myfedloan.org
- On the homepage, you will see the Create an Account button at the left corner of the page
- Tap on it and it will take you to the sign-up page
- You will be required to enter your personal information
- Enter all the required personal information
Lastly, tap on continue and follow the on-screen instructions to complete your sign-up process. Once you have created your Fed Loan Account, you can start accessing its services.
FedLoan sign in
If you already have an account, you can log in to your account anytime and any day to manage your account. However, you will need to enter your Fed Loan Login credential which is your username and password. Below are the steps and guidelines to follow;
- Open your PC web browser
- Visit the official Website of FedLoan
- Locate the sign-in icon and tap on it
- Enter your username
- Also, enter your password
Then, click on the Sign-in or Login icon. If your login credentials are correct, you will immediately be logged in to your FedLoan account quickly.
Does FedLoan Have a Mobile App?
Aside from the FedLoan official website, you can also access its services via your smartphone while using its mobile app for Android and iOS users. With the FedLoan Student Loans App, you can easily manage your student loan account conveniently.
Access your account on the go, view your loan balance, check out your payment history, and access your bills, letters, and tax documents. The mobile app saves you the stress of launching your web browser over and over again to access your FedLoan account. Besides, the Mobile app is free to download and can be downloaded from Google Play and App Store on your Android and iOS device.
Why is FedLoan Closing?
On the contrary, FedLoan has announced that it will be getting out of the student loan game at the end of 2021. According to research, FedLoan has ended its contract with the Department Of Education and this has been causing headaches for millions of workers including teachers, doctors, and nurses.
However, FedLoan has made it known that it will be working with Federal Student Aid (FSA) to conduct a smooth transition to all loans to different services. In other words, FedLoan will continue to service all loans until they are transferred to another FSA. Note that; this change won’t affect existing terms or available repayment plans on your loans. You can check out www FedLoan.com for more information about its closure.