This week, President Biden signed an executive order directing numerous federal agencies to streamline customer service activities. The Department of Education’s student loan system is covered by that order. As part of this initiative, the Department will be implementing a new federal student loan repayment system whereby Direct federal student loan borrowers can manage their loans through a “single repayment portal on StudentAid.gov.”
According to the Department of Education, through this government portal, borrowers will be able to “apply for, manage, and repay their loans without having to visit multiple websites and manage multiple sets of credentials.” Currently, borrowers can view their federal student loan information and apply for income-driven repayment plans and Direct consolidation loans through StudentAid.gov, but little else. The upcoming expansion of features will mean that regardless of their specific federal student loan servicer, all Direct federal student loan borrowers will be able to access and repay their loans through a single portal.