Q- What is MyFedLoan?
MyFedLoan gives a great way for students to get education loans with easy repayment plans. The contract between The Federal Department of Education and MyFedLoan Service is now providing loans through FedLoan Servicing Account to students.
Q- What can you get through MyFedLoan Website?
Through MyFedLoan’s official website, you can easily access and view the details of loans and their repayment plans. You can check various information, including :
- Type of loan
- Interest rate on the loan
- Repayment schedule
Q- What Type of Loans can you get from MyFedLoan?
MyFedLoan is one of the biggest loan providers in the market and provides loans as well as keeps in check whether forgiveness can be provided in repayment of the loans. You can get both Direct and Federal loans from MyFedLoan.
Q- What are the benefits of using MyFedLoan?
MyFedLoan tries its best to stand up to the expectations of its users through its service methods and provide its clients with a pleasant experience. MyFedLoan makes the repayment of loans for student simple and adjusts the repayment according to their income.
- Select the suitable schedule for repayment
You can choose a schedule that would suit you best for the repayment of the loan.
- keep track of your loan status
You can easily check the status of your loan and get to know about the amount you have paid and the amount which is to be paid yet on the official website, i.e., https://studentaid.gov/announcements-events/fedloan-stop-servicing-loans
- Extend your loan’s due date
You may also extend the due date of your loan by a simple procedure. Just visit the official website https://studentaid.gov/announcements-events/fedloan-stop-servicing-loans and get the due date extended.
- Adjusts the loan repayment accordingly
On MyFedLoan, your repayment schedule is set according to your income and family size.
- Chances of loan forgiveness
Your loan may be forgiven if you are hired or working for a non-profit organization such as AmeriCorps or the Peace Corps.
Q- Is MyFedLoan legitimate?
Yes, absolutely; MyFedLoan is completely legitimate. The Federal Department of State Education has tied up with MyFedLoan service to provide student to get education loans.
Q- Can I extend my loan’s due date?
Yes, on MyFedLoan, you can easily adjust the due date of your loan.
- For the same, you need to be assured that you are actively repaying the loan.
- The beginning loan payments are made on time
- Keep in mind that the request for a change of due should be made between the 1st to 28th of that particular month.
Q- Can I contact MyFedLoan’s team for help regarding the education loan?
Yes, absolutely MyFedLoan is always there for its clients. You need to dial 800-699-2908. However, please keep in check that your queries will be answered only during business hours, i.e., Monday to Friday, 08:00 a.m. to 09:00 p.m. EST.
Q-Why am I still receiving bills despite being a student?
Your new school may not be recorded on the system of MyFedLoan if there has been a recent transfer of your funds there.
So, try to make the payment as you do regularly, and if not, submit the request for a General Forbearance. Then, register your request for the same under the tab named “Trouble Paying.” You will not receive the bills as soon as it gets updated on the system.