A credit union. A pension fund. An insurance company. A consumer finance company. The federal government.
Lenders own loans and receive borrower payments.
Lenders frequently sell their loans to other parties. If this happens, you will be notified and you will be told who the new owner is. Making recommendations on lender choice. Providing answers to student loan questions. If a borrower defaults on a federal student loan, the loan is turned over to the guarantor.