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Stock impact report

FedLoan is no longer handling federal student loans: Here's what to know [Yahoo! Finance]

Nelnet, Inc. (NNI) 
US:NYSE Investor Relations: nelnet.com/investors
Company Research Source: Yahoo! Finance
After the decision, FedLoan accounts were transferred to MOHELA, Edfinancial, Aidvantage and Nelnet. Borrowers can contact the Federal Student Aid Information Center if they need assistance with their loan accounts or have trouble contacting their new servicer. FedLoan Servicing, one of the nation's largest federal student loan servicers, ended its contract with the Department of Education in 2021. As a result, millions of student loan borrowers were transferred to a new servicer. Though balances and terms should remain the same, borrowers should keep a close eye on their student loan accounts to avoid issues. What happened to FedLoan Servicing? On December 14, 2021, the Pennsylvania Higher Education Assistance Agency (PHEAA), also known as FedLoan Servicing, ended its contract with the Department of Education. The reason behind this, according to the former servicer's statement to the National Association of Student Financial Aid Administrators (NASFAA) is to “focus more o Show less Read more
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