10-14: Loan Servicing Information - Direct Loan Servicing Center (ACS) Borrower Web Site Available Again (Update #11)

Posted Date: October 14, 2011  

Author:  Jana Hernandes, Service Director, Operations, Federal Student Aid
 

Subject: Loan Servicing Information - Direct Loan Servicing Center (ACS) Borrower Web Site Available Again (Update #11)

Yesterday, we communicated that it was necessary to take down the Direct Loan Servicing Center (ACS) borrower Web site, www.myedaccount.com (October 13, 2011). We are happy to report that the site is again operational. We appreciate the patience and understanding of our customers as the servicer completed its work. We will continue to closely monitor the functioning of the new Web site and keep the school community informed as necessary.

As a result of the transition to the new Direct Loan Servicing Center (ACS) borrower Web site and start-up issues experienced this first week, many more borrowers than usual have been calling the Direct Loan Servicing Center for assistance. Due to the high volume, borrowers have then experienced difficulty getting through to the call center and/or longer than normal wait times. While it will not be immediate, we do anticipate steady progress towards acceptable call center access and response time now that the borrower Web site is available.

We understand that Web site access and response time delays are inconvenient and frustrating to borrowers. The Direct Loan Servicing Center (ACS) borrower Web site, www.myedaccount.com, is available for use 24/7. If traffic on the site is heavy at the time a borrower visits, returning at a later time may work better and alleviate additional frustration that could result from calling the Direct Loan Servicing Center during this high-volume period.

We appreciate the school community’s continued assistance in fielding questions from borrowers and reassuring them that everyone is diligently working to minimize the inconvenience and frustration they are experiencing. We will also ensure that no borrower is penalized or loses any benefit to which he or she is entitled as a result of transition-related delays and issues. We will continue to communicate this information to borrowers through other outlets as well.

As a final note, we are very much engaged with the Direct Loan Servicing Center (ACS) in ongoing evaluation of overall post-implementation processing, Web site, and call center status. Just as we do after any major system implementation, we will continue to communicate information about significant issues or impacts to the school community through the Information for Financial Aid Professionals (IFAP) Web site. Please monitor the Web site for these updates.

Thank you for your continued patience and understanding.

 

Publication Date: 10/17/2011

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