FedLoan Servicing is a student loan servicing company that comes under the US Department of Education to handle their student loans. FedLoan takes care of all the services related to handling loans such as processing payments, sending statements, handling customers and their question, and more.
It provides student loans to the deserving students so they are able to continue on with their studies. Students can interact with FedLoan through its online portal, from where they can sign up for the direct deposit, contact its customer service, and use their dedicated calculators to find out what their monthly payments would be under different plans.
FedLoan Repayment Options
List of repayment options which is dictated by the US Department of Education which consists of:
- Standard Repayment: fixed monthly payments over a period of 10-years.
- Extended Repayment: fixed monthly payments over a period of 25-years.
- Graduated Repayment: monthly bills start low and increase at regular intervals over a period of 10- or 25-years
- Income-driven repayment: monthly payments that are capped at 10-20% of the borrower’s income and qualify for loan forgiveness after 20-25 years.
If you facing troubles while making payments on your loan then you contact FedLoan and it can help you from falling behind from your payments.
- If you are facing any economic hardships or are unemployed then you might qualify for loan deferment.
- You can qualify for Income-driven plans which will reduce your monthly payments.
- You can also qualify for an extension of your loan term which will lower your monthly payments.
Office Hours: Monday-Friday: 8:00 AM – 9:00 PM (EST)
P.O. Box 69184
Harrisburg, PA 17106-9184