Several federal student loan servicers notified borrowers they would be changing hands in 2022. Some have already made the switch.
Six million people who borrowed from Navient are now going through a provider called Aidvantage. But for the 8.5 million FedLoan borrowers, the answer isn't so clear.
According to StudentAid.gov, FedLoan borrowers are being divided up among multiple providers. But FedLoan has also extended its contract through the rest of the year.
Andrew Pentis with Student Loan Hero says the federal government's pause on student loan payments will help borrowers sort out their finances.
"I think that was part of the department of education's recommendation to the Biden White House and saying, 'You know what, if the moratorium on those payments is extended to May 1, this gives us a lot more time to communicate with those borrowers,;" Pentis said.
Pentis says those who want to make a payment right now but are unsure where it's going should hold off and try to get in touch with FedLoan.
StudentAid.gov says those who haven't been notified about a new provider should still send their payments through FedLoan.
Some of the delays could be attributed to the extra steps FedLoan has to take as the only provider that handles public service loan forgiveness. That's in the process of being transferred to the Missouri Higher Education Loan Authority.
Although all the changes may seem confusing now, they should make paying student loans easier in the future.
"Going forward it'll be less and less important who your servicer is," Pentis said. "As long as you know how to access StudentAid.gov in the future, you should have a much more streamlined experience in being able to pay back your student loans."