Student Loan Servicer Transfers: What Borrowers Need to Know

The government is moving federal student loans to new companies that manage them.

This could cause problems like missing payments or confusion about your loan.

Borrowers should keep records of their payments, check their accounts, and make sure auto-pay is set up again.

Your loan information should be updated online in about a week.

If you have questions, contact the new loan servicer.

Keep an eye on your credit report to make sure everything is correct.