Student Loan Guide 2023 – Federal Student Loan Services

Student Loan Guide 2023 – Federal Student Loan Services: Here are all you need to know about Federal Student Loan Services, loan alternatives and lots more. See below for details.

Federal Student Loan Servicers

Instead, the government has selected several different private companies to collect your payments and provide you with any help you may need along the way.

Note that no matter who your servicer is, you should be able to access your loan information in the National Student Loan Data System (NSLDS).

Here is a list of federal student loan servicers and their information:

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Nelnet is a federal student loan servicer in Lincoln, Nebraska. After acquiring Great Lakes Educational Loan Services, Inc., in 2017, it’s the largest federal student loan servicer.

Nelnet is one of the three federal student loan servicers with the most borrower complaints, according to data from the Consumer Financial Protection Bureau (CFPB).

You can learn more about Nelnet in our Nelnet Student Loan review.

Great Lakes Educational Loan Services, Inc.

Borrowers with Great Lakes as a servicer can reach the company online or at 1-800-236-4300.

While Great Lakes does not have high reviews from borrowers through online review sites, it does not have any recent negative information published or actions taken by the CFPB.


Borrowers can get in touch with Navient through the company’s website or by calling 1-888-272-5543.

Like Nelnet, Navient is one of the servicers most plagued by complaints for mismanaging payments and service requests from federal student loan borrowers.

FedLoan Servicing (PHEAA)

The company can be contacted either online or by calling 1-800-699-2908. Like Nelnet and Navient, FedLoan Servicing is one of the top three servicers receiving the most complaints through the CFPB.

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Borrowers can connect with the company through its website or by calling 1-888-866-4352. There have been no significant complaints or lawsuits against MOHELA in recent years.


HESC EdFinancial, also referred to as EdFinancial Student Loans, is headquartered in Knoxville, Tennessee. The company can be contacted either online or by calling 1-800-337-6884. There are no significant complaints or lawsuits against EdFinancial as of May 2018.


CornerStone is another federal student loan servicing company, located in Salt Lake City, Utah. Borrowers may get in touch with the servicer online or by calling 1-800-663-1662. There are no significant complaints against CornerStone as of May 2018.

Granite State – GSM&R

Granite State, also known as GSM&R, is a federal student loan servicer operating in Concord, New Hampshire. Borrowers with Granite State as their servicer can contact the company by visiting its website or calling 1-888-556-0022.

OSLA Servicing

OSLA Servicing is another federal student loan servicer that operates out of Oklahoma City. Borrowers can connect with OSLA by visiting its website or calling 1-405-556-9224. There is no significant issue or complaint against OSLA as of May 2018.

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Federal Student Loan Alternatives

Student loans offered by the Department of Education are often the go-to for borrowers for the reasons listed above, but there are some alternatives to consider.


Receiving a scholarship for your education can make all the difference in how much you pay out of pocket or borrow to earn a degree.

Scholarships come in many forms including awards for outstanding sports and other abilities, having specific traits, or being a part of a particular organization or group.


Grants are another method of paying for your college degree through funds that do not need to be repaid.

Both grants and scholarships can come from a variety of places, including governments, corporations, and community organizations.


Funding from work-study programs is also available to some students. Work-study programs provide part-time employment for both undergraduate- and graduate-level students who can show a financial need.

Private Student Loans

Private student loans are more difficult to qualify for because lenders usually require that borrowers have a good credit score and proof of income, or a cosigner with both. There are, however, some student loans available for those without a cosigner or credit history.

Private student loans may have lower interest rates than federal student loans, but they do not always offer benefits like income-driven repayment plans, forbearance options, or forgiveness.

Check out our full guide to learn about all of the differences between federal and private student loans.

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