Thank you for your patience. Thus far we processed all applications up to ID no. 739.
LRAP Application Process 2012
LRAP application process
Thank you for your patience. Thus far we processed all applications up to ID no. 636.
Direct Loan (ACS) IBR-applications
Direct Loan (ACS) no longer provides automatic administrative forbearance during the review process of IBR or deferment applications unless the borrower explicitly requests forbearance.
This morning a school hotline representative further confirmed that an IBR application takes approximately 30 days.
If you are still awaiting the approval of your IBR application, please request a status update from your lender and one month forbearance if needed.
You can reach Direct Loan (ACS) at 1-800-848-0979.
LRAP application process
Thank you for your patience. Thus far we processed all applications up to ID no. 628.
Rules for Economic Hardship Deferment have changed
In order to obtain Economic Hardship Deferment for federal DIRECT loans, borrowers must either receive some form of government assistance, work full-time while earning less than 150% of the poverty level, or serve in the Peace Corps.
While a deferment application is being processed the borrower must continue to make payments, or request forbearance.
For more information please visit http://studentaid.ed.gov/ or call Direct Loan Servicing (ACS) at 1-800-848-0979.
Direct Loan Servicing (ACS) – Payment History
Direct Loan Services is now operated by ACS-Education and recently transitioned to a new website: myEDaccount.com. For borrowers currently in repayment, the payment history prior to the new website is no longer accessible.
ACS-Education is still working on technical challenges and a school hotline representative did not have specific information when and if the payment history prior to the new website will be made available. If so, it may be through another website.
Student Loan Repayment Plan Verification
In order to verify your loan repayment plan, please submit a copy of the “Print Loan Summary Letter”, which is found in the Message Center at the new Direct Loan website www.myedaccount.com. This loan summary includes your first due date and payment amount needed to calculate your LRAP.
New Direct Loan website: www.myedaccount.com
Please note that due to heavy traffic www.myedaccount.com is still very slow.
The new web site currently does not provide a payment history. Since Direct Loan Serving is still finalizing the transition, we anticipate that this feature will soon be fully implemented.
Department of Education Prepares to Verify Qualifying Public Service Employment!
Heather Jarvis recently posted the good news that the Department of Education will verify that employers qualify as public service organizations and will notify borrowers in writing of the number of qualifying payments made.
But first there is a 90-day period of public comment on this before it becomes final.
Public Service Loan Forgiveness (PSLF) in 5 Easy Steps
FREE Public Service Loan Forgiveness Webinars from Heather Jarvis.