Posted Date:July 31, 2009
Author: Jana Hernandes, Service Director, Operations, Federal Student Aid
Subject: New Address Information - Payments on Defaulted Federal Student Loans and Title IV Grant Overpayment Claims
We recently implemented new addresses to which payments on defaulted federal student loans and Title IV grant overpayment claims held by the Department of Education (the Department) are sent. We communicated these new addresses to borrowers, employers, and other members of the financial aid community involved in default collections.
The complete list of new addresses is provided in the three tables below. In order of appearance, the tables provide information for borrowers, employers, and lenders. Each table clearly identifies the payment type and its new post office box address and physical address. These are the addresses to which the identified payments should be sent.
Borrowers Repaying Defaulted Federal Student Loans and Borrowers Repaying Title IV Grant Overpayment Claims | ||
Payment Type | Post Office Box Address | Physical Address |
Regular Voluntary Payments | National Payment Center | Bank of America |
Employers | ||
Payment Type | Post Office Box Address | Physical Address |
Administrative Wage Garnishment Payments | Department of Education | Bank of America |
Lenders | ||
Payment Type | Post Office Box Address | Physical Address |
Consolidation Payments | Department of Education | Bank of America |
Rehabilitation Payments | Department of Education | Bank of America |
Important Notes:
1) | When using a non-U.S. Postal Service guaranteed shipping service, the "C/O Dept. of ED - XXXXXX" line of the physical address provided in each table must be present and must include the applicable box number. If the complete information is not present, there will be a delay in processing. |
2) | All payment instruments mustcontinue to include the borrower’s social security number (SSN). If an employer or a lender uses one payment instrument to cover multiple borrowers, the employer or lender must include a manifest that provides each borrower’s name, SSN, and payment amount. |
3) | Only the addresses for the payment types identified above have changed. Other post office box addresses in Greenville, TX, including the address to which informational documents are sent for research, remain the same. |
Contact Information
We appreciate the community’s assistance in using the new payment center addresses for defaulted loan and Title IV grant overpayment claim collections. If you have questions about the information in this announcement, contact our Default Resolution Group at 800/621-3115.