USA Funds Adds New Online Resource to Help Student Loan Borrowers
“Borrowers can log on to USA Funds Loan Solutions and view a summary of their outstanding loans, the status of their loans, contact information for their lender or servicer and tools to resolve loan payment issues,” said
USA Funds Loan Solutions provides borrowers a more complete picture of their student loan debt by displaying loan information from the Meteor Network. Guarantors, lenders and servicers that administer approximately 70 percent of the loans in the Federal Family Education Loan Program, the largest federal student aid program, provide data to the Meteor Network.
USA Funds Loan Solutions also displays information to borrowers based on the status of their loans — in good standing, past due or in default. The site assists borrowers in resolving past-due loan accounts by stepping them through their options, helping them determine if they qualify to defer loan payments and providing online wizards that help borrowers request economic hardship or unemployment deferments.
Borrowers in default on their loans can review their options, view details of their account and payment history, and easily access key documents and correspondence.
Borrowers with loans in good standing can use the site to learn more about student loan terms and options, interest rates and fees, and repayment options. In addition, borrowers have access to information about credit scores and to loan repayment and loan consolidation calculators.
“USA Funds Loan Solutions is the latest example of USA Funds’ commitment to helping students, former students and their parents successfully manage and repay the loans that helped them pay for college,” Feser said.
For more information about USA Funds Loan Solutions, visit www.usafunds.org and select “Loan-Payment Solutions” from the Quick Access drop-down menu. Borrowers also may access the tool at www.loanpaymentsolutions.org.
SOURCE USA Funds