The FedLoan Servicing Experience An Overview of Borrower and
School Services
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Agenda The Borrower Experience Borrower Communications Customer
Service Borrower Portal Account Access The School Experience
Communications Access Products & Tools Training 2
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The Borrower Experience You can view our sample letters and
emails at: MyFedLoan.org/borrowertimeline
MyFedLoan.org/borrowertimeline 3
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Borrower Communication Timeline Welcome Letter & Email /
Privacy Notice Disbursement Notification Email Loan Summary Email
Interest Bill* Outstanding Interest Email Enrollment Change
Confirmation Borrower communication timeline from In-school to the
Grace period. *To receive an interest bill while in school, a
student must contact us and request to pay interest.contact us 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. 4
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Borrower Communication Timeline Entering Grace Email 3-Month
Grace Email Interest Notice Repayment Obligation/ Schedule
Disclosure Statement Installment Bill Entering Repayment Email This
shows the borrower communication timeline from Grace to Repayment.
View complete sample timeline of communications for borrowers at
www.myfedloan.org/StudentBorrower www.myfedloan.org/StudentBorrower
Borrowers can opt to receive all account-related correspondence in
the borrower portal. 5
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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out to withdrawn borrowers the Grace email has been segmented.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emails have the same message, but the withdrawn email specifically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. 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. 7 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. 8
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Borrower Portal Sign in Easy access to the secure portal from
our public site at MyFedLoan.org MyFedLoan.org 9
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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
Confirmation Student may now proceed to their account 10
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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 11 Aggregate and
detailed loan information helps borrowers understand their loans,
including: Interest rate Repayment term Monthly installment amount
Original balance
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Borrower Portal Billing & Payment Plans The Billing &
Payment Plans section gives borrower financial management tools to:
Understand their monthly bill Schedule payments Review payment
plans Learn about interest and more 12
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Targeting Payments Borrowers have the option to pay extra
towards their loan balance by targeting payments. 13 How to Target
Payments Step 1Sign in to your account Step 2Click Make a Payment
Step 3 Select the Specify Loan Payment Amounts tab Step 4 Enter
payment information (Minimum Amount Due + Additional Funds) Step
5Hit the Make a Payment button
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Repayment Calculators and Estimators Repayment calculators and
estimators show how different financial choices and situations can
affect a students monthly payment and budget. 14 Repayment Schedule
EstimatorRepayment Schedule Estimator Grace Period CalculatorGrace
Period Calculator Interest Savings CalculatorInterest Savings
Calculator
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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.Consolidation Quiz 15 Use the
Consolidation Estimator to review current repayment options versus
repayment options available after consolidation to determine if
consolidation is the right choice.Consolidation Estimator
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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. 16 With MyFedLoan Mobile,
borrowers/co-signers can: View their Account Summary Review
balances Make a payment
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Borrower Help Center 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/help- center/faq/index.shtml Direct
your students to the Borrower Help Center for quick answers to
frequently asked questions and self service tools. 17
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The School Experience Communications Access Products &
Tools Training 18
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Communications Weekly/Monthly 19
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Communication Customized Bulletin Includes an overview of your
schools 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 20
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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) Business Partner Access Management System
(BPAMS) The designated Authoritative Source is responsible for
Approving/Denying access requests Completed the Annual Access
Review 21
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Business Partner Access Management System (BPAMS) View the
BPAMS tutorials for more information on the various functions
available.BPAMS tutorials 22 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 23
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School Portal Customized Reports From our Loan Portfolio
Summary you are able to : Search for borrowers by name or SSN Save
and export your reports Create custom reports (filter & modify)
View reports by status 24
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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 25
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School Portal Borrower Detail View Deferment/Forbearance
Summary tab provides: View Deferment or Forbearance type Begin date
End date Interest cap notice Processing status 26 Rahzieh Test
SSN:123-45-6789 ACCT: 98-7645321
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Tools - Default Prevention Plan Builder Create a customized
delinquency management plan Select how active you want to be based
on your resources 27 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. MyFedLoan.org/schools Also available in Spanish! 28
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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.
MyFedLoan.org/schools 29 Check out the NSLDS Mail Merge
tutorial!NSLDS Mail Merge
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Financial Literacy 30 Budget CentralBudget 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.comYouCanDealWithIt.com
Focuses on the financial future of college students and recent
graduates Offers tools to successfully manage financial decisions
Calculators Financial Wellness Curriculum Web Banners Student Aid
Modules Entrance Counseling Retention Exit Counseling
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Five Star Training Request a customized training webinar.
Overview of Products & Services Portal Navigation Monthly
webinars are available on various topics: 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.MyFedloan.org/schools/training
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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 [email protected]. If your student
borrowers need assistance, they can call 800.699.2908 or follow the
'Contact' link at www.MyFedLoan.org www.MyFedLoan.org 32
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Your Dedicated Sector Representatives Diona Brown 717-720-3546
[email protected] Facebook.com/fedloanpublic
Facebook.com/fedloanproprietary Lisa Ciritella 717-720-2309
[email protected] Facebook.com/fedloanprivate Public &
Proprietary Private/Graduate & Professional Contact us if you
have any questions!
