Posted Date:July 15, 2016
|Author:||John Brooks, Acting Service Director, Operations, Federal Student Aid|
Subject: Loan Servicing Information - Performance Metrics for January 1, 2016 through May 31, 2016 and Allocation Information in Effect Through February 28, 2017
This announcement informs the community of the availability of the customer service performance results for each of the Department of Education’s (the Department’s) federal loan servicers for the period January 1, 2016 through May 31, 2016 and the allocations that will be in effect through February 28, 2017. The federal loan servicers with customer service performance results and the allocations are as follows:
FedLoan Servicing (PHEAA)
Granite State – GSMR
Great Lakes Educational Loan Services, Inc.
Note: We provide performance results for VSAC Federal Loans; however, we do not provide allocation information for this NFP servicer. VSAC Federal Loans recently requested to cease operations as a member of the federal loan servicer team. Accordingly, the servicer was not included in the final allocation calculation and will not be included in allocation calculations going forward. Additional information about the transition of accounts currently serviced by VSAC Federal Loans will be posted in a forthcoming Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site.
All federal loan servicer performance metric and allocation data, in addition to accompanying explanation, is located on the FSA Data Center. This includes the customer performance results for the Quarter Ending March 31, 2016, customer performance results for the Quarter Ending May 31, 2016, and allocations in effect through February 28, 2017.
The Federal Servicer Results for the Quarter Ending March 31, 2016 are available at https://studentaid.ed.gov/sa/sites/default/files/fsawg/datacenter/servicer/03312016/ResultsQuarterEnd033116.pdf.
The Explanation for the Quarter Ending March 31, 2016 is available at https://studentaid.ed.gov/sa/sites/default/files/fsawg/datacenter/servicer/03312016/ExplanationQuarterEnd033116.pdf.
The Federal Servicer Results for the Quarter Ending May 31, 2016 are available at https://studentaid.ed.gov/sa/sites/default/files/fsawg/datacenter/servicer/05312016/ResultsQuarterEnd053116.pdf.
The Explanation for the Quarter Ending May 31, 2016 is available at https://studentaid.ed.gov/sa/sites/default/files/fsawg/datacenter/servicer/05312016/ExplanationQuarterEnd053116.pdf.
The Federal Servicer Allocations in effect through February 28, 2017 are available at https://studentaid.ed.gov/sa/sites/default/files/fsawg/datacenter/servicer/05312016/AllocationsQuarterEnd053116.pdf.
We value the participation of all customers in the loan servicing process and thank you for your ongoing feedback.