Legal citizen of the United States with no outstanding debts against the federal government are eligible to apply for government student loans, many of which are serviced by ACS Education Services, according to Finweb.com. An applicant must be approved by the government before receiving a student loan serviced by ACS.Continue Reading
ACS is not a government agency, but a large percentage of student loans approved by the U.S. federal government are handled by this company, notes Finweb.com. ACS does not approve applicants for student loans. In general, applicants for student loans through the government should be enrolled or plan to be enrolled in a post-secondary education program. Users must provide their Social Security numbers upon registration for ACS loan services, according to the ACS website.
As of 2015, ACS services three different types of loans, according to ACS. Under the Federal Family Education Loan Program division, the company distributes loans on behalf of banks and other financial institutions. The Campus Based division of ACS handles student loans and financial administrations that are primarily managed by schools. The company also offers private educational loan services. Private educational loans are loans that are intended to cover costs extending beyond the limits of federal government funding. These types of loans go through various private financial institutions rather than the government.Learn more about Credit & Lending