The FedLoan Servicing
Experience
An Overview of Borrower and School Services
Agenda
• The Borrower Experience
– Borrower Communications
– Customer Service
– Borrower Portal – Account Access
• The School Experience
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Communications
Access
Products & Tools
Training
The Borrower Experience
You can view our sample
letters and emails at:
MyFedLoan.org/borrowertimeline
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Borrower Communication Timeline
Borrower communication timeline from In-school to
the Grace period.
Interest Bill*
Outstanding
Interest Email
Enrollment
Change
Confirmation
Loan Summary
Email
Disbursement
Notification
Email
Welcome
Letter &
Email /
Privacy
Notice
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*To receive an interest bill while in school, a student
must contact us and request to pay interest.
All students, regardless of whether or not they pay
interest while in school, receive an interest notice
when they have 20 days left of the grace period.
Borrower Communication Timeline
This shows the borrower communication timeline from
Grace to Repayment.
Repayment
Obligation/
Schedule
Interest Notice Disclosure
Statement
3-Month
Grace Email
Entering
Grace
Email
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Installment
Bill
Entering
Repayment
Email
View complete sample timeline of
communications for borrowers at
www.myfedloan.org/StudentBorrower
Borrowers can opt to receive all account-related correspondence in
the borrower portal.
Road to Repayment Entering Grace Email
•
In an effort to reach out to withdrawn borrowers the Grace email has been
segmented. The emails have the same message, but the withdrawn email
specifically states that the borrower withdrew from school.
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The emails provide account specific information for the borrowers including:
– School name and separation date
– Steps for borrowers to take during the next six months are included to keep them
informed on their loans
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Communications – In Repayment
Additional letters and emails may be sent
based on unique situations.
• Repayment Summary/Repayment schedule
changes
• Monthly statements
• Deferment/Forbearance notifications
• Delinquency notices
• Forgiveness and Discharge
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FedLoan Borrower Experience
• We take approximately 15,000 calls each day and average
5 to 7 minutes per call.
– 65% of callers opt to speak to one of our counselors.
– 35% of callers opt to remain within the self-service system.
• Specially trained school agents are on staff to assist with
calls from financial aid professionals.
• Customer Services Representatives are available Monday
through Friday from 8:00 A.M. until 9:00 P.M. ET.
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Borrower Portal – Sign in
Easy access to the
secure portal from our
public site at
MyFedLoan.org
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Creating an Account
Step 1
• Provide personal information
• Create a username and password
• Select a site image and caption
Step 2
• Verify that the information provided is
accurate.
Step 3
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•
Confirmation
•
Student may now proceed to their
account
Borrower Portal – Account Home
Alerts & Messages draw borrower
attention to specifics of their own
account including:
• New messages within their
paperless inbox
• Invalid demographic information
• Late or missed payments, and
more
Aggregate and detailed loan information
helps borrowers understand their loans,
including:
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Interest rate
Repayment term
Monthly installment amount
Original balance
Borrower Portal – Billing & Payment Plans
The Billing & Payment Plans
section gives borrower financial
management tools to:
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Understand their monthly bill
Schedule payments
Review payment plans
Learn about interest and more …
Targeting Payments
Borrowers have the option to pay extra towards their loan
balance by targeting payments.
How to Target Payments
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Step 1
Sign in to your account
Step 2
Click “Make a Payment”
Step 3
Select the “Specify Loan Payment
Amounts” tab
Step 4
Enter payment information
(Minimum Amount Due + Additional
Funds)
Step 5
Hit the “Make a Payment” button
Repayment Calculators and Estimators
Repayment calculators and estimators
show how different financial choices
and situations can affect a student’s
monthly payment and budget.
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•
Repayment
Schedule Estimator
•
Grace Period
Calculator
•
Interest Savings
Calculator
FedLoan Servicing Consolidation Counselor
The Consolidation Quiz and assists
borrowers in deciding whether or
not consolidation is the best choice
and will direct interested borrowers
to the consolidation application.
Use the Consolidation Estimator to
review current repayment options
versus repayment options available
after consolidation to determine if
consolidation is the right choice.
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Contact Us & MyFedLoan Mobile
From any page within the portal, a borrower can
contact an experienced loan advisor by email,
phone or mail.
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With MyFedLoan Mobile,
borrowers/co-signers can:
• View their Account Summary
• Review balances
• Make a payment
Borrower Help Center
Direct your students to the Borrower Help Center for quick answers
to frequently asked questions and self service tools.
Some of our FAQ topics include:
• New Borrower FAQ
• Graduate & Professional
Borrowers FAQ
• Billing FAQ
• Tax FAQ
• Enrollment Status FAQ
Check out the Borrower Help
Center at:
http://www.myfedloan.org/helpcenter/faq/index.shtml
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The School Experience
• The School Experience
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Communications
Access
Products & Tools
Training
Communications – Weekly/Monthly
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Communication – Customized Bulletin
• Includes an overview of your
school’s student loans serviced
at Fedloan Servicing
– Student borrower portfolio
– Default figures
– Loan cure information
• Sent quarterly and emailed
directly to your inbox
• No access required to receive
this valuable update
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School User Access
• Schools requesting access to
FedLoan Servicing borrower
data must have a Remote
Access Agreement (RAA) on
file
• All access is managed on the
Business Partner Access
Management System
(BPAMS)
• The designated Authoritative
Source is responsible for
– Approving/Denying access
requests
– Completed the Annual Access
Review
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Business Partner Access Management System
(BPAMS)
View the BPAMS tutorials for more information on the various
functions available.
For assistance on user access related issues,
please call 1-800-443-0646, Option 1
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Products & Tools – School Portal
School Portal
Features:
• Real-time borrower
account details
• 24/7 access
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School Portal – Customized Reports
From our Loan Portfolio
Summary you are able to:
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Search for borrowers by name
or SSN
Save and export your reports
Create custom reports (filter &
modify)
View reports by status
School Portal – Borrower Detail View
Loan Summary tab:
• Loan status
• Number of days delinquent
• Disbursement history
• Additional loan detail
– School Enrollment
– Repayment Schedule
– Interest rate
Billing Summary tab:
• Payment due date
• Billing method and type
• Total amount due
• Total bill amount
Payments Summary tab:
• Loan level payment details
• How payments affect balance
and schedule
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School Portal – Borrower Detail View
Rahzieh Test
SSN:123-45-6789
ACCT: 98-7645321
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Deferment/Forbearance
Summary tab provides:
• View Deferment or
Forbearance type
• Begin date
• End date
• Interest cap notice
• Processing status
Tools - Default Prevention Plan Builder
• Create a customized
delinquency
management plan
• Select how active you
want to be based on
your resources
Contact your Sector Representative for assistance with tailoring a
default prevention plan targeted specifically for your student population.
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Tools - Before You Owe/Go Worksheets
Before You Owe encourages students to
record their loan balance and
servicer information before
they take on additional debt.
Before You Go - provides
students with a convenient
location to record the
information they learn when
reviewing their loan portfolio
at Exit Counseling.
Found at
MyFedLoan.org/schools on
our Publications page.
Also available in Spanish!
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Tools - Reporting Option from NSLDS
Use the NSLDS Delinquent Borrower Report
to produce letters to delinquent borrowers
who have loans serviced by any federal
servicer.
More information and instructions found at
MyFedLoan.org/schools on our Training page.
Check out the NSLDS
Mail Merge tutorial!
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Financial Literacy
Budget Central will point you to the most useful information on
YouCanDealWithIt.com and MyFedLoan.org to get you started on the right path
to a solid financial foundation.
YouCanDealWithIt.com Focuses on the financial future of
college students and recent graduates
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Offers tools to successfully manage financial decisions
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Calculators
Financial Wellness Curriculum
Web Banners
Student Aid Modules
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Entrance Counseling
Retention
Exit Counseling
Five Star Training
• Request a customized training webinar.
– Overview of Products & Services
– Portal Navigation
• Monthly webinars are available on various topics:
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FedLoan Servicing Products & Services
Default Prevention & Financial Literacy
Policy and Compliance
Professional Development
• Visit MyFedloan.org/schools/training to learn more about all of
the training opportunities available.
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Contact Information
• If you or anyone at your institution would like more
information about FedLoan Servicing, please call
800.655.3813 or email
SchoolSupport@MyFedLoan.org.
• If your student borrowers need assistance, they can
call 800.699.2908 or follow the 'Contact' link at
www.MyFedLoan.org
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Your Dedicated Sector Representatives
Public &
Proprietary
Private/Graduate &
Professional
Diona Brown
Lisa Ciritella
717-720-3546
dbrown1@pheaa.org
717-720-2309
lciritel@pheaa.org
Facebook.com/fedloanpublic
Facebook.com/fedloanprivate
Facebook.com/fedloanproprietary
Contact us if you have any questions!