Are Ascendium student loans Federal?

What does Ascendium do? Ascendium is a guarantor for loans made through the Federal Family Education Loan Program (FFELP), and that is a big part of what we do.

Are student loans backed by the federal government?

The federal government fully guarantees almost all student loans.

What documents explains your rights and responsibilities as a federal student loan?

Master Promissory Note (MPN) An MPN lists the terms and conditions under which you agree to repay the loan and explains your rights and responsibilities as a borrower.

Is Ffelp a federal loan?

The FFELP was introduced as part of the Higher Education Act of 1965. Through the FFELP, private lenders issued federal loans that were guaranteed and subsidized by the federal government. There are two main kinds of FFELP loans: commercially-owned and Education Department-owned.

Can Ascendium garnish my wages?

Ascendium will not garnish wages, will not submit borrowers to Treasury for offset, and will not engage in outbound collections communications. Payments borrowers miss during this time will not prevent their completion of a rehabilitation or repayment agreement.

Who is calling for cancellation of student loans?

U.S. Sen. Elizabeth Warren, D-Mass., has called for the cancellation of up to $50,000 in student loan debt for all borrowers with federal loans. U.S. Sen. Bernie Sanders, I-Vt., says the country should cancel all student loan debt. What’s an indebted student or graduate to make of all this?

Is it really possible to have my federal student loans forgiven?

Is it really possible to have my federal student loans forgiven or to get help repaying them? The answer: Yes! However, there are very specific eligibility requirements you must meet to qualify for loan forgiveness or receive help with repayment.

How does the government help with student loan repayment?

In acknowledgment of your service to our country, there are special benefits and repayment options for your student loans available from the U.S. Department of Education and the U.S. Department of Defense. Benefits include interest rate caps under the Servicemembers Civil Relief Act and Department of Defense student loan repayment programs.

What’s the latest on student loan interest rates?

Five questions about student loans, answered by experts. Confused about what’s happening with student loans? We asked experts for answers Last spring, as the coronavirus took hold of the nation, the federal government acted to automatically pause payments and interest charges for many Americans with student loans.

How to find out if you have federal student loans?

Confirm which of your loans are federal. Log into FSA or call the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243. One more thing: you don’t need to hire a company to help you get this student loan payment relief.

Where can I find answers to my student loan questions?

The answers are still worth taking a look at, but you may also want to check out our Student Loan Hero Coronavirus Information page for the most up-to-date guidance. If you have student loan questions, you’re not the only one. And like most people, you probably went to Google to search for the answers.

Are there any federal student loans that do not qualify?

But some federal student loans don’t qualify – for example, older Family Federal Education Loan (FFEL) program loans or Perkins Loans that are owned by the school you attended. Contact your federal loan servicer online or by phone to find out if your loans are eligible.

How to contact FedLoan for student loan forgiveness?

Learn more about PSLF now! If you’re interested in PSLF, contact FedLoan, the PSLF servicer, as soon as possible at 1-855-265-4038.