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What is TG and how does its role differ from that of my servicer?

April 26, 2017differ Servicer TG

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What is TG and how does its role differ from that of my servicer?

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TG is the guarantor of your student loan(s). If you are at least 270 days delinquent, your lender may file a default claim with TG for repayment of your loan. TG is then obligated to pay your lender the remaining balance of interest and principal you owe, provided your lender meets certain requirements under federal guidelines. Your servicer works with and for your lender to bill, collect, and provide you with information pertinent to your loan. If TG pays a claim on your loan, TG becomes responsible for collecting your loan on behalf of the federal government.