Posted Date: January 8, 2016
William Leith, Chief Business Operations Officer, Federal Student Aid
Subject: Loan Servicing and Collection Information - Availability of Loan Servicing and Collection Information Page
As communicated in a November 3, 2015 Electronic Announcement posted on the Information for Financial Aid Professionals (IFAP) Web site, Federal Student Aid recognizes the important work members of the community do in assisting consumers with the servicing and collection of their federally-owned loans. Federally-owned student loans include William D. Ford Federal Direct Loan Program loans, Federal Family Education Loan Program loans purchased by the U.S. Department of Education (the Department), and Federal Perkins Loan Program loans assigned to the Department. To support the community's ongoing efforts, we have developed a new Loan Servicing and Collection Information page on the IFAP Web site. On this page, we have consolidated links to key federally-owned loan servicing and collection information and resources.
Loan Servicing and Collection Information Page Organization
The information and resources on the Loan Servicing and Collection Information page are organized into the following key topical areas:
- Servicing Overview
- Frequently Asked Questions
- Borrower Resources
- National Student Loan Data System
These topical areas are located in the main body of the page. Each topical area is populated with hyperlinked items that will open documents and additional Web pages on IFAP and other Department sites that provide information about the servicing and collection of federally-owned loans.
The Frequently Asked Questions topical area opens to a functional Frequently Asked Questions page with a listing of all the questions at the top of the page as anchor links which can be used to navigate quickly through the page and questions. We plan to expand upon these questions to cover more loan servicing and collection information and will inform the community when we do so.
Along the right side of the page there are several section headings. These sections include useful contact, Web site, and training information, as well as links providing additional guidance regarding the servicing and collection of federally-owned loans.
Each time we update content associated with the Loan Servicing and Collection Information page, a notice will appear on the IFAP Web site's "What's New" page and in the IFAP subscription e-mail.
Federal Student Aid appreciates the work members of the community do in assisting federal student loan borrowers with the servicing and collection of federally-owned loans. Our intention is for the Loan Servicing and Collection Information page to be used by all members of the community as a tool to achieve this common goal, as we are all advocates for and counselors to this unique group of consumers.