Posted Date:November 1, 2013
|Author:||Jana Hernandes, Service Director, Operations, Federal Student Aid|
Subject: Loan Servicing Information - Federal Loan Servicer Team Changes Update and Contact Center Support Service Status
In a July 26, 2013 Electronic Announcement posted on the Information for Financial Aid Professionals (IFAP) Web site, we notified the financial aid community that four Not-for-Profit (NFP) members of our federal loan servicer team—COSTEP, EDGEucation Loans, EdManage, and KSA Servicing—would be partnering with other NFP members of the federal loan servicer team. We also informed the community of the resulting transfers of the William D. Ford Federal Direct Loan (Direct Loan) Program loan accounts from COSTEP, EDGEucation Loans, and EdManage to MOHELA and from KSA Servicing to Aspire Resources Inc.
In this announcement, we provide information on transfer completion and transfer-related reminders. We also inform the financial aid community about the phone number, Web site, and e-mail status for COSTEP, EDGEucation Loans, EdManage, and KSA Servicing.
We present the information in this announcement as follows:
- Transfer Completion and Transfer-Related Reminders
- Phone Number, Web Site, and E-mail Status
- Contact Information
Transfer Completion and Transfer-Related Reminders
All Direct Loan accounts previously assigned to COSTEP, EDGEucation Loans, EdManage, and KSA Servicing were successfully transferred to the appropriate NFP servicer partner by the end of September 2013. As previously explained, servicers communicated with impacted borrowers about these transfers.
- A transferred borrower must start making payments to and communicating solely with his or her new federal loan servicer.
- A borrower can access the NSLDS Student Access Web site to identify the servicer to which the borrower's loans have been transferred. A school that assists a borrower in identifying the new servicer of the borrower's loans can access the new servicer information through the NSLDS Professional Access Web site.
- Once they have been notified of their new servicer, it is critical that borrowers who use a bank or bill paying service to make their payments update the bank or bill paying service with the new servicer's name and address.
- New status change requests submitted to COSTEP, EDGEucation Loans, EdManage, or KSA Servicing via the servicer's retiring P.O. Box for correspondence will be forwarded to the borrower's new federal loan servicer for approximately one year. However, as explained above, a transferred borrower must start submitting such requests to his or her new loan servicer.
- The reporting of a loan made to an ineligible borrower who had been serviced by COSTEP, EDGEucation Loans, EdManage, or KSA Servicing must be made to the borrower's new federal loan servicer. The new servicer will take the appropriate action.
For other key information about the transfer process in question and answer format, refer to the July 26th Electronic Announcement.
Phone Number, Web Site, and E-mail Status
Below is a table outlining contact center support services—phone numbers, Web sites, and e-mail addresses—for COSTEP, EDGEucation Loans, EdManage, and KSA Servicing.
|Contact Center Support Service||Status|
|Phone Numbers|| |
|Web Sites|| |
Borrower and school contact information for MOHELA and Aspire Resources Inc. is available on the IFAP Web site's Loan Servicing Centers for Students page and Loan Servicing Centers for Schools page, respectively.
We appreciate the community's support during the transfer of borrower accounts from COSTEP, EDGEucation Loans, EdManage, and KSA Servicing to the new NFP servicer partners—MOHELA and Aspire Resources Inc.
If you have questions about Direct Loans transferred to one of the new NFP servicer partners, contact the servicer directly. Contact information for MOHELA and Aspire Resources Inc. is available on the IFAP Web site's Loan Servicing Centers for Schools Contact Information page.