"Beginning July 1, the majority of families who hold federal Stafford, Grad PLUS or Parent PLUS loans will receive notices that their loans have been bought by the Department of Education, says Sam Nelson, director of client relations for the Illinois Student Assistance Commission," Bankrate.com reports. "'To help lenders stay in the student loan market, the federal government is buying on the secondary market and servicing the loans themselves,' says Nelson. 'Six out of every 10 student loan dollars are now made with federal money instead of with private capital.' Although the change is no cause for alarm, students should be aware that the switch in loan servicers could affect certain borrower incentives and will affect where payments should be sent. Here's what to do if the federal government scoops up your student loan."