Student Loan Borrower Rights FAQ
What is a loan servicer?
A loan servicer is a company that is assigned to handle the billing and servicing of your federal student loans. Your loan servicer will work with you on repayment options and assist you with staying on track with repayment.
What if my loans are transferred to a new loan servicer?
Make sure you set up an online account with your new loan servicer and that your contact information is up to date. Unsure which servicer your loans were transferred to? Log in to your FSA dashboard. If you can’t log in, call Federal Student Aid (FSA) at 1-800-4-FED-AID (1-800-433-3243) for loan servicer information.
How do I find out what my interest rate is?
Log into your loan servicer’s website to find your interest rate(s). Most borrowers’ interest rates will be the same as before the 0% interest began. But some borrowers will find their interest rate has changed. For example, your interest rate may have changed if you consolidated your loans during the payment pause.
How do I contact the Department of Education’s Federal Student Aid Office to ask a question or file a complaint?
Federal Student Aid (FSA) can respond to your financial aid questions when you visit the StudentAid.gov ‘Contact Us’ page and select one of the appropriate contact centers and then select 'Email.' You may also reach FSA at 1-800-433-3243.
Can I get my loan discharged if my school closed?
There are certain criteria that make you eligible for a closed school discharge, and there are certain steps you need to take to get a discharge. It will be important for you to obtain your academic and financial aid records if your school closes as you may need your academic records if you plan to attend another school and want to have your coursework at the closed school taken into consideration. Contact the state licensing agency in the state in which the school was located to ask whether the state made arrangements to keep the records. The records might also be useful in substantiating your claim for a loan discharge.
- Contact your loan servicer about the application process for getting your loan discharged.
- Find out what happens if your loan discharge is approved.
- Find out what happens if your loan discharge is denied.
What are my options to get out of default?
If you defaulted on any of your federal student loans, contact the U.S. Department of Education's Default Resolution Group at 1-800-621-3115 as soon as possible so you can explain your situation fully and discuss your options. One way to get out of default is to repay the defaulted loan in full, but that's not a practical option for most borrowers. The two main ways to get out of default are loan rehabilitation and loan consolidation. While loan rehabilitation takes several months to complete, you can quickly apply for loan consolidation. However, loan rehabilitation provides certain benefits that are not available through loan consolidation. You can compare the benefits of loan rehabilitation versus the benefits of loan consolidation with this chart. Find out who holds your loan by logging into your Federal Student Aid account.
How do I get my loan cancelled due to disability?
Student loans may be discharged if you have a total and permanent disability. The U.S. Department of Education considers you to have a total and permanent disability if you are unable to work and earn money because of an injury or illness that is expected to continue indefinitely or result in death. Borrowers who wish to pursue this option must first submit a loan discharge application to the lender or agency holding the loan. For further guidance contact the Disability Discharge Loan Servicing Center at 1-888-303-7818.