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What happened to UHEAA?

\u201cWe regret that the decision to end the contract with the U.S. Department of Education's Office of Federal Student Aid negatively impacts so many of our highly valued employees, and we're committed to helping them through this transition over the coming months.\u201d UHEAA blamed ongoing financial losses for its decision to ...

Who took over UHEAA?

The Department of Education has decided to move those accounts to FedLoan Servicing, the trade name of Pennsylvania Higher Education Assistance Agency. While UHEAA had previously been able to handle one million borrower accounts, news releases state that the contract terms led to the organization's financial losses.

Is UHEAA federal or private?

UHEAA is a Utah state government agency and part of the Utah System of Higher Education.

What did UHEAA change to?

Over one million student loan borrower accounts with Cornerstone will now be transferred to other student loan servicers. Cornerstone is the trade name of the Utah Higher Education Assistance Authority (UHEAA).

Are parent PLUS loans Federal Family Education Loans?

There are also options for parents that take out loans from private lenders. A parent PLUS loan, or Direct PLUS loan, is a form of federal student aid. Once a student reaches federal student loan limits, parent borrowers will often take out a PLUS loan. A parent PLUS loan is an unsubsidized federal direct loan.

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