MyFedLoan Service is a student loan company that works for the Education Department to manage FedLoan Servicing Accounts. They handle everything about student loans, like processing payments, sending bills, and solving problems. MyFedLoan is one of the biggest student loan companies and takes care of all public service loan forgiveness applications.
When dealing with MyFedLoan, remember you will likely talk to a call center worker who might not care much about your financial well-being. That’s why you need to learn more about your student loan, know what options you have, and lead the conversation in the right way. In your account, federal student loans come in two main types: direct loans and federal family education loans. Both kinds of loans can qualify for one or more income-based payment plans.
| Organization | Federal Student Aid |
| Website Name | MyFedLoan |
| URL | studentaid.gov |
| Language | English, Spanish |
| Country | USA |
| Domain of Work | Finance |
What is MyFedLoan Servicing?
MyFedLoan Servicing is a federal student loan servicer contracted by the U.S. Department of Education to manage federal student loan accounts. Their responsibilities include processing payments, issuing billing statements, and assisting borrowers with loan-related inquiries. Until recently, My Fed Loan was one of the largest federal student loan servicers and the primary servicer for Public Service Loan Forgiveness (PSLF) applications.
As of early 2025, MyFedLoan has transitioned its loan servicing responsibilities to MOHELA. Borrowers previously serviced by MyFedLoan should now manage their loans through MOHELA.
Important Update: Transition to MOHELA
Most federal student loan accounts previously managed by MyFedLoan have now been transferred to MOHELA. Borrowers should verify their current loan servicer by logging into StudentAid.gov.
Login to MyFedLoan Servicing Account
Managing your federal student loans effectively requires regular access to your online account with FedLoan Servicing.
You’ll need to log in to your account to view loan details, make payments, and manage your account online.
You can also set up account alerts to notify you of important updates, such as payment due dates or changes to your loan status.
How to Log In to Your MyFedLoan Account (Historical Information)
Although MyFedLoan Login no longer actively services loans, you may still need to access historical loan information. Follow these steps:
- Visit the official website: www.myfedloan.org.
- Click on the “Sign In Now” button under the “Account Access” section.
- Enter your username and password, then click “Sign In.”
Tip: If you experience login issues, use the “Forgot Password” option or contact support at 1-800-699-2908. Note that most account management has now shifted to MOHELA.
How to Access Your MOHELA Account (Current Servicer)
To manage your federal student loans through MOHELA:
- Visit www.mohela.com.
- If you’re a new user, create an account by providing your loan details and personal information.
- Log in to view your loan balance, repayment options, and payment history.
Need Help? Contact MOHELA’s customer service at 1-888-866-4352 for assistance with account setup or login issues.
Types of Federal Student Loans
Now that you understand the role of FedLoan Servicing in managing your federal student loans, it’s time to dig into the different types of loans available to you.
As you meet FedLoan eligibility requirements, you can investigate three main types of federal student loans:
- Direct Subsidized Loans
- Direct Unsubsidized Loans
- Direct PLUS Loans
Direct Subsidized Loans are available to undergraduates who demonstrate financial need, while Direct Unsubsidized Loans are available to undergraduate and graduate students regardless of financial need.
Direct PLUS Loans are available to graduate and professional students, as well as parents of dependent undergraduates.
When managing your loans, keep in mind that you’re responsible for all accruing interest on unsubsidized and PLUS loans, and a credit check is required for PLUS loans.
Repayment Options for Federal Student Loans
Overview of Repayment Plans
Federal student loans offer several repayment plans to suit different financial situations. Below is a summary of the most common options:
| Repayment Plan | Monthly Payment | Eligibility | Repayment Term |
|---|---|---|---|
| Standard Repayment Plan | Fixed amount | All borrowers | 10 years |
| Income-Driven Repayment | Based on income and family size | Borrowers with financial hardship | 20–25 years |
Income-driven repayment (IDR) plans, such as PAYE, REPAYE, and IBR, are particularly helpful for borrowers with limited income. These plans cap monthly payments based on income and family size, making them more manageable.
How to Switch Repayment Plans
If your current repayment plan isn’t suitable, you can switch to another plan. Follow these steps:
- Use the Federal Student Aid Loan Simulator to compare repayment options.
- Submit your selected repayment plan application through your MOHELA account.
Setting Up Payments
- Automatic Payments (Autopay): Enrol in autopay to simplify loan management and potentially qualify for a 0.25% interest rate reduction.
- One-Time Payments: Make additional payments through MOHELA’s online portal to reduce your loan balance faster.
Benefits of Federal Loan Servicing (MOHELA)
MyFedLoan helps borrowers manage federal student loans, offering tools for repayment and potential loan forgiveness. Note that as of early 2025, FedLoan is transferring its servicing portfolio, so other servicers may be involved.
If you work in public service (government, non-profit, AmeriCorps, Peace Corps), MyFedLoan (or its successor) is key for Public Service Loan Forgiveness (PSLF). PSLF can forgive your remaining balance after 120 qualifying payments.
MOHELA provides borrowers with essential tools and resources for managing federal student loans, including:
- Access to various repayment plans, including income-driven options.
- Online account management for tracking loans and making payments.
- Options for deferment or forbearance during temporary financial hardship.
- Assistance with Public Service Loan Forgiveness (PSLF) and Teacher Loan Forgiveness programs.
Note: Borrowers do not have the option to choose their federal loan servicer; the Department of Education assigns servicers.
Reimbursement Strategy of MyFedLoan
MyFedLoan, as a federal loan servicer, didn’t have its own “reimbursement strategy.” It followed the U.S. Department of Education’s rules for federal student loan repayment. Borrowers chose from government-established repayment plans (like Standard, Graduated, or Income-Driven plans). MyFedLoan’s role was to collect payments and administer those plans. Changes to repayment options came from Congress or the Department of Education. As of early 2025, MyFedLoan is no longer servicing loans; this has moved to other servicers.
Loan Forgiveness Programs
Public Service Loan Forgiveness (PSLF)
PSLF forgives the remaining balance on Direct Loans after 120 qualifying payments while employed full-time by a qualifying employer (government or nonprofit). To apply:
- Confirm your employment eligibility.
- Submit the PSLF form through MOHELA, the designated PSLF servicer.
Recent updates have expanded PSLF eligibility, allowing previously denied borrowers to reapply under new guidelines.
Other Loan Forgiveness Options
- Income-Driven Repayment Forgiveness: Remaining balances are forgiven after 20–25 years of payments under an IDR plan.
- Teacher Loan Forgiveness: For educators working in low-income schools.
Borrower Resources and Support
Contact Information
Getting in touch with FedLoan Servicing support and MOHELA is a straightforward process that can help you resolve any issues or concerns you may have about your federal student loans.
If you have FedLoan questions or need assistance with your account, you can reach out to their servicer support team for help.
| Servicer | Phone Number | Website |
|---|---|---|
| MyFedLoan | 1-800-699-2908 | www.myfedloan.org |
| MOHELA | 1-888-866-4352 | www.mohela.com |
Federal Student Aid Tools
The Federal Student Aid website offers valuable resources, including the Loan Simulator and repayment calculators, to help borrowers make informed decisions.
Simplify Your Student Loan Management with FedLoan Servicing
Managing student loans can be overwhelming, but professional guidance can simplify the process. Consider consulting a Certified Financial Advisor (CFA) or using MOHELA’s resources to create an effective repayment strategy.
If refinancing or consolidating your student loans aligns with your financial goals, platforms like Credible allow you to compare personalized offers from multiple reputable private lenders quickly.
Resolving Loan Servicing Issues
Promptly addressing loan servicing issues is crucial to maintaining good credit and avoiding complications:
- Request deferment or forbearance during financial hardship.
- Consider loan rehabilitation or consolidation if your loans are in default.
- Contact MOHELA customer support for personalized assistance.
Troubleshooting Common Issues
Accessing MyFedLoan Accounts
If you’re having trouble accessing your old My Fed Loan account:
- Double-check your login credentials.
- Use the “Forgot Password” feature.
- Contact MyFedLoan support at 1-800-699-2908 for assistance.
MOHELA Account Issues
For MOHELA-related problems, such as login errors or payment discrepancies, contact their customer service team at 1-888-866-4352.
General Tips
- Always use official websites like StudentAid.gov to verify account information and payment history.
- Avoid third-party services that may charge unnecessary fees.