MyFedLoan has compiled a Frequently Asked Questions (FAQ) page in response to some of the most frequent inquiries they receive from clients. Look at it once and you could figure it out right away. MyFedLoan’s dedication to providing excellent service is a method of providing clients with the priceless gift of serenity.
- Is FedLoan Servicing legal?
Yes, the business is entirely legitimate. Don’t stress over it; it’s not a big deal.
- What does MyFedLoan mean, exactly?
MyFedLoan is a non ‐ profit organisation that is owned and maintained by the Pennsylvania Higher Education Assistance Agency (PHEAA) (PHEAA).
- Help! I don’t know how to utilise MyFedLoan!
There are several useful features that FedLoan provides.
Main of them are:
- Your student loan can be repaid.
- Pick a payment schedule that works best for you.
- Keeping tabs on your loan payments allows you to take pleasure in the amount owed gradually decreasing over time.
- Can I extend the loan’s due date?
Yes, you may adjust your loan due date.
To accomplish this, please refer to the procedures below:
- Make sure you are in active repayment.
- The initial loan payment is due promptly.
- Make sure you submit a date change request between the 1st and the 28th of that specific month.
- How can I get in touch with MyFedLoan’s support team?
Dial 800-699-2908. Please note that this number is only monitored during business hours (Monday through Friday, 8 a.m. to 9 p.m. EST).
- Even though I am a student, I continue to receive bills. Why so?
The MyFedLoan system may not yet reflect your new school if you recently transferred funds there.
If you’re able to, please make the payment; otherwise, please submit a request for a General Forbearance. Submit your request under the “Trouble Paying” tab. Once the status is adjusted in the system, you will not get billed.