How do I contact my student loan collections?
Private collection agencies no longer service defaulted federal student loans. If you need help with your defaulted loan, contact our Default Resolution Group online or by phone at 1-800-621-3115.
Does the US Department of Education use debt collectors?
The U.S. Department of Education no longer employs private collection agencies to service student loans. If you have a defaulted Perkins loan held by a school, or a defaulted FFEL loan held by a guaranty agency, your loan may have been referred to a private collection agency.
What happens if your student loans go to collections?
When student loans go to collections, the lender adds collection costs to the balance, and the loan amount is immediately due through a process called acceleration. The interest rate will remain the same as outlined on your promissory note. You’ll also lose access to repayment options like: Deferment.
What is the phone number to the US Department of Education?
The local number in Washington, D.C. is 202-453-6100. Federal Relay Service. Email: [email protected].
How long do student loans stay in collections?
seven years
Student loans that you have defaulted on or are delinquent on are going to stay on your credit report for seven years from the original delinquency date of the debt.
Can student loans in collections be forgiven?
Depending on the type of loan you have, the remaining balance will be forgiven after either 20 or 25 years’ worth of payments. Borrowers will have to pay taxes on the amount forgiven. You also can use an extended or graduated repayment plan if you want a lower monthly payment.
Will IRS take refund for student loans 2021?
The bottom line. The student loan tax offset has been suspended through Nov. 1, 2022. If you have federal student loans in default, your 2021 tax return won’t be taken to offset your defaulted loan balance if you file your 2021 tax return by the filing deadline.
How do I find out how much I owe the U.S. Department of Education?
At AnnualCreditReport.com, you can get a free copy of your credit report once a year from each of the three national credit reporting agencies: Equifax, Experian and TransUnion. Each report will list the amounts you borrowed and the loan servicers or holders, as well as your credit score calculated by that bureau.
Who do I talk to about my student loans?
visit your account dashboard and scroll down to the “My Loan Servicers” section, or. call the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243.