That's a big deal, especially because you're not able to choose a servicer or switch to a new federal
servicer if you're unhappy with the assistance you receive.
Furthermore, BND will be
your servicer if you choose either of the above options — an advantage over some of the larger companies who use third - party servicers, like Navient or AES.
For any loans you do take, stay in contact with your loan
servicer if you think you're going to run into any money trouble.
Take your time in understanding what you're signing up for, and reach out to your student loan
servicer if you have any questions about the different repayment plans available.
In theory, this would make it easier for the government to replace
the servicer if things were not working out or something went wrong, but many critics still have their doubts.
Contact
your servicer if you are struggling with payments.
Go to https://studentloans.gov/myDirectLoan/index.action and you can fill out a consolidation application completely online (which I did and it was quick and easy) or you can download the application (pdf) and submit it however you prefer - you can even choose Sallie Mae as
your servicer If you like since you get to pick the servicer of your choice.
Contact your loan
servicer if you think you qualify.
Tip: Ask your new loan
servicer if there are any restrictions or limitations on how often additional principal payments can be made.
You should also contact your loan
servicer if you have questions about your payments or other issues.
I always check my loan balances and notify
my servicer if there are changes to my financial situation.
Contact your loan
servicer if you have any questions about making payments on an Income - Sensitive Repayment Plan.
If you don't qualify for a military deferment, you may want to ask
your servicer if you qualify for any other deferment or lower repayment plan.If those options are not available, check if your servicer offers a military forbearance or national service forbearance.
Since that time, ED's portfolio of loans has grown significantly, so it would be even harder to extract and redistribute student loan accounts to
another servicer if it became necessary to replace the single servicer.
Contact your loan
servicer if you would like to discuss repayment plan options or change your repayment plan.
Contact your mortgage lender or loan
servicer if you are already behind on monthly payments.
Contact
your servicer if you need your loans to be postponed.
Understanding your loan agreement, staying on top of your loan information, and making sure to contact your loan
servicer if you are having trouble making payments can help you avoid default.
I recommend using Great Lakes as your loan
servicer if you've already received the garnishment notice.
The program provides financial incentives to mortgage
servicers if they modify first lien mortgages to lower the monthly payment.
Not exact matches
If you're aiming to zero out your student loans ahead of schedule, pay attention to how your loan
servicer handles those extra payments.
(Just make sure,
if you're paying down a chunk of your student loans, that the
servicer is applying that payment correctly.)
If you have multiple loans with that
servicer, your extra money will often be divided equally among them unless you specify otherwise, Mayotte said.
If the
servicer never even began the modification process and foreclosed (568,000 borrowers), the payment ranges from $ 300 to $ 600.
If you submitted a paper application by U.S. mail, your consolidation
servicer's contact information was available when you downloaded or printed the paper application.
According to the Truth in Lending Act, your lender or
servicer can not assess any penalties or fees
if you prepay your private student loan.
If warranted, regulators should require that
servicers, in consultation with their third - party consultants, conduct more targeted outreach to better reach underrepresented groups, such as considering more credible messengers to reach these groups.
If you have several loans associated with the same loan
servicer (the company that sends you a bill each month) and you don't provide instructions, your
servicer will generally decide how to allocate your payments in excess of the amount due.
If you submitted your application online, your consolidation
servicer's contact information was provided at the end of the online process.
If any of their loans are currently in the grace period, borrowers may elect to have their
servicer delay the processing of the loan consolidation for one to nine months to take full advantage of the grace period for the loan (s).
You'll want to be sure your
servicer responds to your request so you know
if you need to send additional instructions.
Include a note in the appropriate field of your online payment or physical check, then double - check that your payment was applied as directed and contact your
servicer for a correction
if necessary.
If you can't afford your current plan, discuss your options with your loan
servicer.
If you want to be sure about where your money is going, consider looking into becoming an authorized payer for their loan
servicer.
Work with your student loan
servicer to change your due dates
if a different payment deadline would help you consistently pay on time and in full.
If that happens, you can contact your loan
servicer to discuss an alternative payment plan or temporary forbearance to help you get back on your feet.
If you communicated with your loan
servicer via email, print a copy of every communication.
However,
if you miss your payments, expect your
servicer to take aggressive action to get their money back.
If at any time you're struggling to repay your student loans, contact your loan
servicer to discuss your options.
When you're in delinquency, your student loan
servicer will send you a notice
if you're more than 15 days late on your payment.
If you choose to rehabilitate your loan, then your credit history will no longer show the default, but it will show the late payments reported by your
servicer.
If you're already dealing with a potential tax offset, contact the IRS as well as your loan
servicer to figure out your next steps.
If you have a PLUS loan, call your student loan
servicer to see how they can help you.
If you have federal student loans with various
servicers, consolidation could help.
If you want more information, you can contact your student loan
servicer directly to tell them you are interested in obtaining more information or applying for the program.
If you are unsure how your loan works, check out your loan paperwork or call your
servicer for more information.
Your loan
servicer should contact you once your loans have been granted deferment, so
if you haven't heard anything, it's worth getting in touch.
To find out
if you qualify for either deferment or forbearance, contact your loan
servicer directly.
If your income has changed since you filed your tax return, you can provide alternate acceptable income documentation — your loan
servicer can help with that.
If the loan is transferred to a Special
Servicer, an appraisal will need to be performed (often done at the borrower's expense).