Changes to the Direct Loan Website | 10.13.11

Posted in News, Student Loans By Student Loan Network Staff

The Department of Education’s Direct Loan Servicing Center is in the process of changing their website. Students can now access their direct loan information at www.myedaccount.com. Anyone accessing the old site should be automatically redirected to the new website, but make sure to bookmark it as well!

US Department of Education Logo

Unfortunately, as with most major website changes, there are still some issues that need resolving. The DoE released a statement yesterday explaining that some borrowers may have trouble accessing the new site, and are working to quickly resolve the issues.

For those who would like more information or wish to be notified when the issue is resolved, click here.


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80 Responses to “Changes to the Direct Loan Website”

  1. Cheryl says on August 15, 2012 at 10:14 am:

    apparently there was a software update to the http://www.myedacct.com web page. Just do the following:
    Tools -> Internet Options -> Advanced Tab -> scroll down for “Use TLS1.0″ (towards the bottom) and place a checkmark in the box -> ok. You are then abel to get in to the site.

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  2. Tom says on July 2, 2012 at 3:24 pm:

    I’m in the same boat as all of you and have started to consider suicide due to the absurdities of this crazy new website that is horrible.
    But I have a feeling most of those complaining here also voted for Obamacare, this is the future of your health care servicing, enjoy. Just think about all the fun times we’ll have arguing with government servicing agencies over which plan we joined, what such and such means we don’t need to pay such and such penalty, being ignored, having no legal recourse because its the government. Good time, I can’t wait.

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  3. DR says on April 10, 2012 at 8:35 pm:

    Has a lawsuit been filed by anyone yet. This new servicing center is a complete joke. First, I was previously signed up for Income Based and was supposed to have IRS give my income information. Apparently that doesn’t work with this new servicer. Thanks for not telling me this then putting me on a payment of almost $2000 instead of my prior low payment based on family size and current income. Then one call center lady either flat out lied to me that she had received my deferment documentation or lost it because a month later it “wasn’t all there.” And they say, we think you can get the $2000 refunded but we won’t know for 6-8 weeks if the Treasury Dept. will give you the refund. This is unreal.

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  4. Insanity says on April 10, 2012 at 2:22 am:

    I’ve had a consolidated loan with the USDOE for close to 15 years. The first few years went smoothly. Then they introduced the “Direct Loan” website. It freaked me out a little at first, but it also ended up being glitch-free and allowed access to various features making it less necessary to spend time with customer service on the phone. Win-win.

    There were ZERO problems with that site for something like 8 years. Then, all of a sudden, they launch the “new” site (obviously can’t let something that works continue to do so). The problems with it are well-documented. But to add to all that, just recently I logged in to pay my loan, and it said “Paid In Full”. Really? That’s too good to be true.

    It had to be yet another glitch with this site, right? Well, after getting the standard rude-as-hell customer service agent on the phone, I was told that another loan servicer had purchased my loan, and told in the most mind-numbingly “Duh, you should know this” tone I’ve probably ever heard.

    No notice. No explanation of how something like this occurs. No warning of how I should proceed with my payments. Nothing. I then get a notice in the mail a couple weeks ago from the new servicer on the cheapest-possible-looking laser printed paper, welcoming me into their scam. This seriously looks like some kind of fly-by-night operation. I’m totally freaked out at this point.

    Fast forward to this week, I got my first statement in the mail from them, and they’re saying that last month’s payment IS PAST DUE. Unbelievable.

    This whole thing has gone from adequately functioning to an absolute train wreck in six months time. Congrats Dept of Ed on being a shining example of public sector organization and decision making.

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  5. Stephen says on March 8, 2012 at 10:40 pm:

    myedaccount.com seriously is a SCAM. I have been paying extra each month to have that extra amount applied to the principal balance to steadily knock down the interest accrued. Instead they take that extra, break it apart, and apply it towards future payments. On paper it looks good. The monthly payment amount gets less; but in reality nothing changed, they are just lulling you into staying in debt for as long as possible.

    There is a box that must be checked about 5 layers deep in the ‘Pay Now’ area marked ‘Do Not Advance Due Date’ to make it so your extra payment actually will be applied to the principal balance (that is after all your interest is paid off!). Here is the kicker, IT IS IMPOSSIBLE TO CHECK THAT BOX! I have tried to do so on over a half dozen different computers all with different internet service providers to no avail.

    I have called them 3 times this month to have them check the box from their side. Everytime I am assured that it is taken care of (how hard can it be?); and everytime I look the payments are still incorrect, the box is still unchecked, they are still pulling the same crap.

    About 2/5 (close to 3/7) of what I paid this year went to interest, Ive paid into the system for years and yet I’m barely under the amount that I originally took out.

    This new website, its technical difficulties, its lack of customer service and support staff is absolutly a government sponsored scam to swindle us out of as much money as possible. What was wrong with the last website? Oh ya, it worked…

    Can anyone say class action suit…

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    • G says on March 22, 2012 at 1:20 pm:

      I have experienced the exact same problem. and by the way, calling their support line and emailing them are a total waste of time.
      I’m not sure if this is an example of inefficient government bureaucracy or profit-motivated private jackals, that’s the subject of another board, but either way the loan management performed by myedaccount is verging on the fraudulent.
      I have two loan groups, one group (A) with 3 loans which were all well into repayment when the joyful transfer occurred, and another group (B) with a single loan which was in the disbursement phase during transfer. The first group looks good. Payments are being applied as I would expect and accrued interest looks correct. Group B however is a seething nightmare of errors, confusion and inconsistencies. I keep making payments way above what the interest should be to group B but I cannot see where the money is going. I guess I could just stop paying. Maybe then their totally screwed up system would magically reduce the amount owed.
      I don’t have the time to stay on the line listening to their endless “someone will be with you shortly”, let alone engage a lawyer, and so I feel helpless. If there are enough people out there with the same level of frustration maybe we could organize a petition or something.

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    • It Doesn't Matter says on April 4, 2012 at 7:39 pm:

      I’m having the exact same issue. The representative on the phone informed me that I could only pay additional money towards the principle by writing a letter and mailing it with my payment which is absurd. This appears to be clearly set up to maximize interest payments. I personally think a youtube campaign and video demonstrating this nonsense would be one of the better ways to bring attention to this.

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      • G says on April 13, 2012 at 4:26 pm:

        I was so frustrated that I sent a letter to Arne Duncan. I really didn’t expect a personalized response, but I was hoping for something from his office. A few weeks later I got a big envelope in the mail from the Dept of Ed with a transaction report of my loans (4 of them) since 1 Oct ’11. The three loans that were in repayment BEFORE myedaccount look fine. Payments are being applied to principal and interest exactly as expected. The fourth loan, which began AFTER myedaccount came into the picture is a COMPLETE DISASTER. The transaction history is completely unintelligible with multiple transactions of the same type being applied on the same day with the resulting balances (both principal and interest) fluctuating wildly, sometimes to amounts $5K over the original loan amount! I called their support line yesterday and the person on the call agreed that it was a mess, and has referred the issue to their research department for “data integrity”. I hope to be seeing a resolution within the week in the form of a letter sent to my home. We’ll see.

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