FedLoan and AES are under PHEAA, set up in 1963 to manage loans from the Federal Family Education Loan Program.
Today, they handle a big chunk of DOE loans, serving over 8 million borrowers with $300 billion in debt.
FedLoan, launched in 2009, is a part of PHEAA, which is a nonprofit, not a regular company.
In 2021, FedLoan started transferring loans to other servicers like MOHELA, Navient, EdFinancial, and Nelnet. If your loan’s moving, you’ll hear about it soon.
But your payments and terms won’t change much.
What FedLoan Does
FedLoan handles a lot, from sending bills to certifying borrowers for loan forgiveness. Most interactions happen online through their portal or mobile app.
Though FedLoan gets complaints, they’re trying to get better, just like the rest of the industry.
They offer tools like loan calculators, articles, and videos.
Plus, they have a sister site called “You Can Deal With It” for money tips.
You can also follow them on Twitter for updates and reach out for help via chat, phone, or email.
FedLoan offers repayment plans set by the DOE.
These include Standard, Extended, Graduated, and Income-driven plans. They’ve got tools to help you understand each plan.
Deferment or Forbearance
If you’re struggling to pay, don’t ignore it. Contact FedLoan. They can offer forbearance or deferment if you’re facing financial hardship, plus other options to ease your burden.
But watch out – these may keep you in debt longer.
Getting Help Before Defaulting
If you’re heading toward default, or just feel stuck, don’t wait. Reach out to FedLoan. They can help you figure out a better plan.
Contact Information
If you need to reach FedLoan:
- Office Hours: Monday to Friday, 8:00 AM – 9:00 PM (EST)
- Email:
- Phone: 1-800-699-2908
- Mailing Address: FedLoan Servicing, P.O. Box 69184, Harrisburg, PA 17106-9184