It’s almost impossible to stay on top of student loan debt if you don’t know who your loans are owed.

It is important to know your loan balance, monthly payments, and repayment options if you wish to pay the loans off faster, lower or stop making them.

This is how you can find out who owns your student loan debts so that you are ready for anything.

Loan servicers vs. lenders

Your student loans are owned by the federal government or a commercial enterprise.

All private loans are owned by private companies. Most federal loans are held by the Department of Education.

The Department of Education, as well as private institutions, partner with loan servicers. Your student loans are managed by loan servicers who handle billing statements and payment inquiries. They can be reached at any time with questions regarding your account.

Servicers of loans can change frequently, so make sure you keep your contact information up-to-date.

Find out who is responsible for your student loans

Find out who owns and provides services for your student loans.

Get in touch with your school to find out who is responsible for your loan. You might also find out that your school holds the loan.

Your credit report can be pulled. Private student loans are not centrally stored. TransUnion, Equifax, and Experian credit reports contain the most current information about your loan servicers. This includes contact details.

What do you do when you find out who is responsible for your student loans?

Now that you are aware of who is responsible for your student loans, you can take a few steps to keep up to date with your loan terms and repayment plans:

  • Check that your contact information is up-to-date.

  • Discuss repayment options and your loan servicer.

  • Find out what other programs you can use.

There are many federal loan programs that offer income-driven repayment or public service loan forgiveness. You’ll need to talk with your loan servicer.

Federal relief programs do not include the federal Perkins loan or FFELP. These loans are federal, but they’re owned by private companies.

Consolidate an FFELP loan or Perkins loan and consider combining them into a federal loan to be eligible for federal relief programs.

Apply online for loan consolidation via