Subscribe
Apply now
student
Picture of Rachel Seitz

Rachel Seitz

All posts

Student Loan Servicers: Who They Are and What They Do

When you take out a student loan, whether it be a private loan (such as one through Climb),  a federal loan, or an institutional loan, you’ll eventually find yourself dealing with student loan servicers. And sure, you could just accept your servicer as a vague entity you only barely think about when a bill comes, but as always, it’s in your best interest to understand every part of your student loan process. So, we’ve brought you this quick explainer of just who your loan servicer is!

What is a loan servicer?

A servicer handles the loan from origination to full repayment. They’re the ones who will send you monthly statements and collect and keep track of your payments. They will also be the point of contact if you want to switch your repayment method, alter account information, or apply for deferment or forbearance. In order to ensure your repayment stays on track, you’ll definitely want to get to know your loan servicer.

Read more: student loan repayment tips

What are some examples of student loan servicers?

If you have a federal student loan, your servicer will be one of these entities: CornerStone, FedLoan Servicing (PHEAA), Granite State — GSMR, Great Lakes Educational Loan Services, HESC/Edfinancial, MOHELA, Navient, Nelnet, or OSLA Servicing. Upon taking out a federal loan you are assigned (or, in some cases, reassigned) to a servicer. Of course, if you’ve taken out a private loan, your servicer might still be someone else entirely, such as Student Assistance Foundation (SAF) or Sallie Mae, depending on the company from whom you’ve taken out a loan.

Who is Climb’s loan servicer?

For Climb loans funded before 10/16/23, the servicer is University Accounting Service (UAS)., and for those funded on or after 10/16/23, the servicer used is Launch. Once the funds for our loans are disbursed, the servicer takes over the administration until the account is paid off and will be the ones contacting students regarding their payments and billing. Students are also able to view their payment history, due dates, and account information through an online account. Students can access their account or contact the loan servicer with any questions, but, of course, we are always available even after we send the funds. We still love hearing from borrowers and will be here for whatever questions or feedback you may have, so don’t hesitate to contact Climb Credit!

When repaying your loan, you want to make sure you know who your student loan servicer is and what options they can provide for you. Information on your servicer for federal loans can be found by logging into the Financial Aid Review of the National Student Loan Data System. For private loans, students can see their loan servicer by looking at their student loan statements or their credit reports. Then, if you’d like to know more, take a look at the information on their website and at what’s been written about them. This way, you’ll stay informed on an important aspect of your finances and will be able to make the best decisions for you!

Visit our Help Center for more info

3 thoughts on “Student Loan Servicers: Who They Are and What They Do”

  1. I’m trying to figure out how to navigate to my loan payment options, to make sure I don’t miss payments. Can you assist me?

    Reply

Leave a Reply

Your email address will not be published.Required fields are marked *

Subscribe to get more info sent straight to your inbox!

What to Expect: Realistic Outcomes

Climb’s Comprehensive Access Solution can offer a strategic balance of increased enrollments and upfront cashflows compared to traditional lenders. While no financing solution guarantees 100% collection, our data-driven approach maximizes both upfront cash and long-term repayment rates.

Typical Partner Results:

  • 15-30% of students qualify for Climb Loans with upfront tuition delivered to the school shortly after course start
  • 45-60% of students qualify for 0% APR* payment plans
  • Enrollment increases of 20%+ reported by partner schools**

**Results vary by school and student demographics. This represents performance reported by individual school partners and should not be considered a guarantee of your specific outcomes.

The bottom line: CAS is designed to maximize your net tuition recovery while eliminating the administrative headaches of student financing.

Maximizing Your Results

Pro Tip: Schools that require student deposits and set up automatic payments during enrollment see significantly better repayment performance across all financing options. These simple steps can meaningfully improve your outcomes.

FAQs

We use a comprehensive, AI-driven assessment that goes beyond traditional FICO scores to better serve career training students:

  • Climb Credit Score: Over 150 data points specifically designed for vocational students
  • Debt-to-Income Ratio: Reliable predictor of payment performance
  • FICO Score: Used primarily for interest rate assignment

Key advantages of our approach:

  • Soft credit pull until loan funding (no credit impact during application)
  • The majority of students receive instant decisions
  • Students can apply with co-borrowers directly in the application
  • More accurate placement into appropriate financing products

We use a comprehensive, AI-driven assessment that goes beyond traditional FICO scores to better serve career training students:

  • Climb Credit Score: Over 150 data points specifically designed for vocational students
  • Debt-to-Income Ratio: Reliable predictor of payment performance
  • FICO Score: Used primarily for interest rate assignment

Key advantages of our approach:

  • Soft credit pull until loan funding (no credit impact during application)
  • The majority of students receive instant decisions
  • Students can apply with co-borrowers directly in the application
  • More accurate placement into appropriate financing products

Students are placed into funding brackets (Elite, Standard, Enhanced) based on our AI assessment. Higher-credit students generate higher upfront payments to your school, while students with limited credit are seamlessly directed to our 0% Payment Plan.

These brackets are established using data from over $1 billion in career training loan originations and may be adjusted periodically based on updated repayment trends.

Important note: Regardless of which bracket a student falls into, they are considered fully paid by your school once funded. The student’s repayment obligation exists exclusively between Climb and the student.

Elite Access not available for Computer Science programs. Upfront percentages vary by industry and loan terms.

Once Climb disburses upfront funding for a student loan, that student is considered fully paid by your school. You will not receive any additional payments for that student—the single upfront payment is complete and final.

From that point forward, the student’s repayment obligation exists exclusively between Climb and the student. Your school has zero liability if the student defaults, and you keep the full upfront payment regardless of the student’s future payment performance.

They’re automatically offered our 0% Interest Payment Plan, ensuring no student is turned away while maintaining steady monthly cash flow for your school.

Higher-credit students generate larger upfront payments (75-100% of tuition), while students with limited credit use our 0% APR* Payment Plan for consistent monthly revenue. Both options are risk-free for your school

Absolutely. Climb complements existing payment options like scholarships, employer-sponsored programs, and internal financing.

Absolutely. Climb complements existing payment options like scholarships, employer-sponsored programs, and internal financing.

Typically, within 5-10 business days after your partnership agreement is signed.

Comprehensive onboarding webinar, continuous partner support via AI-assisted chat and live email—and real-time borrower assistance with our live-chat-available student success team.

No. Climb fully manages the administrative responsibilities—your team simply monitors your school’s performance via our intuitive School Portal.

Your school is fully protected either way. For Climb Loans, you keep the entire upfront payment with zero liability. For Payment Plans, you only receive what students actually pay, with no risk to your school.