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Michigan Guaranty Agency
Michigan Guaranty Agency
June 14, 2023
Congress recently passed a law preventing further extensions of the payment pause. Student loan interest will resume starting on September 1, 2023, and payments will be due starting in October. Your servicer will notify you before payments restart. Click the link below for tips to prepare for repayment to resume.
December 2, 2022
Federal Student Aid posted Fresh Start Initiative Guidance to Guaranty Agencies (GA). The link below informs the GAs of their obligations regarding the Federal Family Education Loan (FFEL) Program loans that are in default in accordance with the Fresh Start Initiative.
December 1, 2022
The Michigan Guaranty Agency (MGA) student loan portfolio is now fully serviced by Pennsylvania Higher Education Assistance Agency (PHEAA). PHEAA can assist with:
- Making payments
- Payment plan options including rehabilitation
- Loan information including balance, payments, and interest rates
- Loan Forgiveness and Discharge
- Forbearance or Deferment
Questions regarding your defaulted student loan account should be directed to the collections unit at 800-214-9320.
Questions regarding loans in repayment should be directed to your loan servicer or the Default Prevention Unit at 800-445-0216.August 17, 2022
The U.S. Department of Education announced the Fresh Start initiative. The links below have additional information.
Federal Loan Forgiveness, Cancellation and Discharge
In certain situations, you can have your federal student loan forgiven, canceled, or discharged. Find out whether you qualify due to your job or other circumstances.
You Don’t Have to Pay for Help With Your Federal Student Loans
Many student loan debt relief companies charge a fee to provide services that you can take care of yourself for free by contacting your loan servicer. At no cost, your loan servicer may be able to help you lower your monthly loan payment; change your repayment plan; consolidate multiple federal student loans; see if you qualify for loan forgiveness or other programs; and may be able to help you work toward getting your loans out of default.
For more information, contact us.
MICHIGAN GUARANTY AGENCYP.O. Box 30047
Lansing, MI 48909-7547
Tel: (800) 642-5626
Fax: (517) 335-7449