Is ACS a federal student loan?
ACS operated as the sole servicer for all the student loans made directly by the federal government until 2009. This means that the first wave of borrowers who should have been eligible for PSLF—but were denied—all had their loans serviced by ACS at some point during repayment.
What happened to the Direct Loan Servicing Center?
Loan Servicing Information – Direct Loan Servicing Center (ACS) Closed Beginning October 1, 2013, Posted on September 30, 2013: This announcement informed the community of the closure of the Direct Loan Servicing Center that began on October 1, 2013, when only informational messaging directing borrowers and schools to …
Who bought ACS?
Xerox
The acquisition of Affiliated Computer Services transforms Xerox into a services company that can focus on business process management and outsourcing. This was originally posted at ZDNet’s Between the Lines.
Is Great Lakes owned by Navient?
It was one of the four largest companies which service United States federal student loans: Great Lakes, Nelnet, Navient, and the Pennsylvania Higher Education Assistance Agency. In 2018, the loan servicing part of the organization was sold to Nelnet….Loan servicing.
| Type | Subsidiary |
|---|---|
| Website | mygreatlakes.org |
Is Great Lakes apart of Navient?
Can you separate myth from fact? Great Lakes, FedLoan Servicing, Navient, and Nelnet are student loan servicers. They’re the connection between you and the lender. For federal student loans, the interest is determined by the Higher Education Act as enacted and amended by Congress.
What is the phone number for ACS Student Loans?
– Handle payments and credit your account appropriately – Administer student loan programs related to your loan – Take your customer service calls and handle them correctly – Process forgiveness programs, income-based repayment programs, and more that you may qualify for – Report your loans to the credit bureaus accurately – Seek repayment for defaulted loans
Is ACS a federal loan servicer?
The report uncovered problems by Affiliated Computer Services (ACS), a company that used to be the primary loan servicer for the U.S. Department of Education’s federal student loan portfolio. Due to widespread problems with ACS, the federal government discontinued using ACS as its primary loan servicer in 2013.
Does ACS offer student loan deferment?
Absolutely! While student loans are deferred until September 30, 2021, you still have the ability to pay off your loan if you want to.
What does it mean to be a student loan servicer?
Your student loan servicer is the company that manages your student loans. Essentially, it’s a third party that acts as a middleman between you and your lender. When you make a payment toward your student loan, it is managed by your loan servicer. Student loan servicers work with borrowers to help manage their student loan repayment.