Federal loan has been "reassigned"??? - Mothering Forums

Thread Tools
#1 of 2 Old 03-01-2012, 09:07 AM - Thread Starter
crunchy_mommy's Avatar
Join Date: Mar 2009
Posts: 6,460
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
So I just got an email saying that one of our student loans has been 'reassigned' -- basically sold to a random third party! Is this normal with federal loans?? I didn't know they did this. At first I thought it was a scam but when I logged into the account through the federal website, sure enough, the balance was $0 and it listed the loan as Transferred. I guess I shouldn't be surprised, I knew private lenders did this, just not the government...

According to the email, nothing will change, it's just part of a routine reassignment, I just have to create a new account with the new loan holder. So I guess it's not a big deal but it makes me uncomfortable and I'm wondering if there will be any potential issues from this. I also feel we should have received the email directly from the federal loan site, not from the new loan holder, which is a company I've never even heard of. eyesroll.gif I always liked that our mortgage has a clause in it that our loan will never be sold to another company or something like that. I'm just not comfortable with this at all... convince me that it's not a big deal, please...

Co-sleeping is really wonderful when your child actually SLEEPS!! familybed1.gif
crunchy_mommy is offline  
Sponsored Links
#2 of 2 Old 03-01-2012, 10:55 AM
Mosaic's Avatar
Join Date: Jun 2005
Location: La vida loca
Posts: 3,945
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Yup, normal. Our last 2 mortgages have been sold as well. Nothing changes except for the logo on the stationery and the mailing address for the payments! smile.gif

Mi vida loca: full-time WOHM, frugalista, foodie wannabe, 10+ years of TCOYF 


R-E-S-P-E-C-T spells BRAND NEW User Agreement!!

Mosaic is offline  


User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page

Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off

Online Users: 10,463

15 members and 10,448 guests
Bruno9o , CricketVS , Deborah , Dovenoir , gizzypeach , hillymum , IsaFrench , kathymuggle , katyeb , Leelee3 , NaturallyKait , RollerCoasterMama , samaxtics , Skippy918 , tnmulkey
Most users ever online was 449,755, 06-25-2014 at 12:21 PM.