Who Owns my Student Loans

A student loan is a type of financial aid designated to help the students to pay for the fees other financial expenses related to getting your degree. For more information about student loan servicer, national student loan data system (NSLDS), collection agency etc. Read the full article.

Updated by Priya Shah on 20th August 2020

Loan servicer often changes after you graduate and start paying off your loans. It is very much possible that the task of finding the proper company rests on the borrower. The confusion of how and whom to pay the monthly payment arises but you need to figure it out in a way that is affordable for us. If you miss the payments there are very many chances of falling into the category of default, which can hamper your credit score. The borrower should act smart and track a way to make sure the payments are applied correctly( towards principal and interest). 

When you get a loan from the federal government you are assigned a student loan servicer, to whom you will have to make scheduled payments. So who really does own your student loans? Let’s find out

Table of contents

What is a student loan servicer?

The loan servicer acts as an intermediary between the lender and the borrower who helps you borrow and manage the payments. So a student loan servicer is a body that enables you to get or provide a loan if you require a loan. They collect the borrower’s payments and help manage student loan repayments following deferment, forbearance, or other repayment options. 

Loan servicer can be an essential tool or a bridge, an essential thing that must be remembered is despite whether you find work or didn’t after you leave school, you must inform the loan servicer about the situation that you are tackling. 

Either make arrangements of your payments or find an alternative to making other plans to ensure your account is standing in the right positions. 

We have basically 9 different loan servicing companies with all federal direct loans and FFEL loans: 

  1. Cornerstone 

  2. Fed loan servicing(PHEAA)

  3. Granite State(GSMR)

  4. Great lakes educational loan services, inc 

  5. HESC/ Edfinancial 


  7. Navient

  8. Nelnet 

  9. Osla servicing 

Use the national student loan data system to find your loan servicer 

We have various steps to find out the best federal student loan 

Firstly find out the owner of the loan by visiting the website of the federal student loan (NSLDS) at nslds.ed.gov

Secondly, we have a “financial aid review” click and log into the site with your FSA ID. 

And finally, the last step will show you the balance, rate of interest, loan type, the status of your loan, and the most important loan servicer. So you must go through each loan.

Contact your college about federal perks of loans

To figure out the loan holder, you must contact your school or college to figure out who owns your federal Perkins loan. They will immediately let you know if the servicer is college or if it works with an outsider loan servicer. In case if you’re already with the federal Perkins loans owned by a department of education.

How to find your collection agency?

If you, unfortunately, fall under default on payments on your federal loans that may end up in collections.

  • Try NSLDS first:   NSLDS can be the best website for viewing your student loan in order to find the name of the collection agencies. For the borrower whose credit status os default they can get alternate contact information for the collection agency next to the loan. To make further payments they can contact the given collection agency to make the payments and learn more about your payment options.

  • Contact the default resolution group: after you didn’t find any information regarding the payment option on the NSLDS, you can go for the second option of contacting the department of education's default resolution group. This group will provide you the proper address and the related phone number of your assigned collection agency. You can also mail, using the address: US Department of education, p.o. Box 5209, Greenville, TX 75403-5609. The Department of Education owns all the defaulted direct loans and defaulted FFEL program loans( and a guaranteed agency owns remaining).

 Some of the agencies that are used by the education department are: 

  • Account Control Technology, Inc.

         P.O. Box 11750

         Bakersfield, CA 93389-1750


  • Action Financial Services

        P.O. Box 3250

        Central Point, OR 97502


  • Alltran Education

         P.O. Box 702220

         Tulsa, OK 74136


  • Bass & Associates

        P.O. Box 66080

        Tucson, AZ 85728-5478


  • Central Research

        P.O. Box 1460

        Lowell, AR 72745-1460


  • Coast Professional Inc.

        P.O. Box 2899

        West Monroe, LA 71294


  • Coast Professional Inc.

        P.O. Box 2899

       West Monroe, LA 71294


  • Credit Adjustments Inc.

        P.O. Box 5640

        Manchester, NH 03108|


  • FH Cann & Associates

       P.O. Box 877

       North Andover, MA 01845


  • FMS Investment Corp.

         P.O. Box 1423

          Elk Grove Village, IL 60009-1423


  • GC Services

        P.O. Box 27346

        Knoxville, TN 37927


  • Immediate Credit Recovery Inc.

         P.O. Box 965156

         Marietta, GA 30066


  • National Credit Services

        P.O. Box 766

        Bothell, WA 98041-0766


  • National Recoveries, Inc.

         P.O. Box 120666

          St. Paul, MN 55112


  • Professional Bureau of Collections of Maryland

         P.O. Box 3725

         Englewood, CO 80155



Who owns my private student loans?

If you know the lender, you can contact your private student loan lender to see if they still own your loan. The lender will also help you manage the loan and yet have a chance of holding the loan by another company. The current lender can also provide you with the new loan service details regarding the loan holder’s information.

If you don’t know about your lender or you are not sure, you can check your credit report, which lists all the possible lenders along with contact information and the relevant queries. You can also go ahead and call the lenders listed to track down the private student loan owner.


Can we change the owner of the loans?

If you are in the dilemma of changing the loan or you want to change the loan, you can go ahead and change your loan.  If your investments are in a good position and do not default, you can refinance with a private lender.

Refinancing of the loan changes the loan shape and era with new terms and conditions, including a new rate of interest that is affordable for the borrower. Refinancing gives you the chance to switch and gives you a proper outcome that helps you manage your debt better than before. It secures a better interest rate than before and an affordable loan term.