Is CornerStone Education loan services legitimate?

Is CornerStone Education loan services legitimate?

CornerStone is one of 10 federal loan servicers. It’s a nonprofit organization run by the Utah Higher Education Assistance Authority (UHEAA) and is headquartered in Salt Lake City. Despite the name, the company services federal loans nationwide, not just the loans of Utah residents.

What happened to CornerStone student loans?

CornerStone was originally contracted to service federal loans through 2022, but it ended its contract in October 2020 due to financial loss. Its website no longer exists, and all loans were transferred to FedLoan Servicing.

How do I pay my CornerStone student loan?

If CornerStone is your student loan servicer, you have a number of payment methods at your disposal, including: Online: Once you create an account through CornerStone’s online portal, you can make payments online anytime.

Who owns Uheaa?

About us. UHEAA is a Utah state government agency and part of the Utah System of Higher Education. It acts under authority delegated by the Utah State Board of Regents and is governed by a 13-member Board of Directors and Utah’s Commissioner of Higher Education.

How do you pay off student loans?

How to Pay Off Student Loans Fast

  1. Make extra payments the right way.
  2. Refinance if you have good credit and a steady job.
  3. Enroll in autopay.
  4. Make biweekly payments.
  5. Pay off capitalized interest.
  6. Stick to the standard repayment plan.
  7. Use ‘found’ money.

Why did my student loan get transferred?

Sometimes we need to transfer a borrower’s federally owned loan between members of our federal loan servicer team, which changes the servicing assignment for those loans. We also transfer loans when borrowers sign up for programs, such as Public Service Loan Forgiveness (PSLF).

Why are my student loans in forbearance?

You can request a general forbearance if you are temporarily unable to make your scheduled monthly loan payments for the following reasons: Financial difficulties. Medical expenses. Change in employment.

Is UHEAA a federal student loan?

Loans serviced by UHEAA are held under the Federal Family Education Loan (FFEL) Program and do not currently qualify for the automatic National Emergency Forbearance. However, additional postponement or repayment options may be available to you during this time of uncertainty.

What type of loan is UHEAA?

UHEAA administers student loans originated under the U.S. Department of Education’s Federal Family Education Loan Program. Additionally, UHEAA’s RepayCentsibly program provides financial aid literacy, loan repayment assistance, and default prevention services to students and schools.