Is Department of Education a federal student loan?
The U.S. Department of Education’s federal student loan program is the William D. Ford Federal Direct Loan (Direct Loan) Program. Under this program, the U.S. Department of Education is your lender.
Are Navient loans held by the Department of Education?
Navient processes and services on behalf of the U.S. Department of Education, education loans owned by the the U.S. Department of Education.
Are AES loans federal or private?
American Education Services (AES) is a federal loan servicer that processes FFEL loans. While the FFEL program was discontinued, AES still handles borrowers in repayments, and it also services some private student loans for other lenders.
Will Navient forgive student loans?
Income-driven repayment (IDR) forgiveness Plus, you may be eligible to receive Navient student loan forgiveness once you reach the end of your repayment schedule. Depending on the plan that you choose, you’ll be eligible for forgiveness in 20 to 25 years.
What is going on with Navient student loans?
In 2020, the US Department of Education announced changes to loan servicing in an effort to modernize the federal student loan system. Navient, along with FedLoan and Granite State opted to end their participation in federal student loan servicing at the end of 2021..
Do AES loans qualify for loan forgiveness?
The private student loans AES services are not eligible for loan forgiveness. But the federal student loans it servicers can be forgiven under different programs offered by the Department of Education.
Is AES legit?
If AES is your loan servicer, you might have gotten something in the mail from them—and not known what it is. You may even have thought it was a scam. But, in fact, AES is a legit loan servicing company. It’s not unusual for people to have thousands of dollars in student debt—and not know who their loan servicer is.
How do I get out of Navient student loans?
If you have federal student loans with Navient, here are three forgiveness options that are available to you.
- Income-driven repayment (IDR) forgiveness.
- Public Service Loan Forgiveness (PSLF)
- Teacher Loan Forgiveness.
- Loan Discharge.