![cornerstone student loans cornerstone student loans](https://lirp.cdn-website.com/1eb29c45/dms3rep/multi/opt/Loan_Pronto_Logo_White-1920w.png)
![cornerstone student loans cornerstone student loans](https://www.bankrate.com/2021/05/04183113/What-to-know-if-CornerStone-was-your-student-loan-servicer.jpg)
This means you might encounter another loan transfer soon.Įven if you do get transferred to another loan servicer, it’s at no cost to you, and all of your loan details will stay the same. FedLoan - run by the Pennsylvania Higher Education Assistance Agency - is currently contracted with the Department of Education through December 2021. If you were one of the 1 million borrowers with a CornerStone loan, your loan has been transferred to FedLoan Servicing, another federal student loan servicer. What will happen to my CornerStone Education Loan Services loans? Its website no longer exists, and all loans were transferred to FedLoan Servicing. CornerStone was originally contracted to service federal loans through 2022, but it ended its contract in October 2020 due to financial loss. It’s managed by the Utah Higher Education Assistance Authority (UHEAA), although it serviced loans nationwide. When you graduate, your loan gets assigned to one of these servicers that helps you manage your loans until you’ve repaid them.ĬornerStone used to be one of a handful of approved companies managing federal student loans. Instead, it contracts that work out to loan servicing companies like Navient, Nelnet and Great Lakes, among others. The Department of Education doesn’t directly handle the management and repayment of federal student loans. What happened to CornerStone Education Loan Services? If you had a CornerStone loan, here’s what you can expect in the transfer. But in 2020, the company suddenly canceled its contract with the Education Department, leaving 1 million borrowers in limbo. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.ĬornerStone Education Loan Services was once a major loan servicer for the U.S. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.ī is an independent, advertising-supported publisher and comparison service. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
![cornerstone student loans cornerstone student loans](https://c2k8p6z3.stackpathcdn.com/wp-content/uploads/2020/07/1035-WEB-Rouse_RP46906edited-lensglare-518x345.jpg)
We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.īankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our experts have been helping you master your money for over four decades. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions. Editorial Independenceīankrate’s editorial team writes on behalf of YOU – the reader. Our editorial team does not receive direct compensation from our advertisers. We maintain a firewall between our advertisers and our editorial team.
![cornerstone student loans cornerstone student loans](https://media.nbcphiladelphia.com/2019/09/student-loan-debt-generic-962519730.jpg)
Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. What to do when you lose your 401(k) matchīankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Should you accept an early retirement offer? How much should you contribute to your 401(k)?