One piece of advice Lifehacker gives in pretty much every post about student loans is to make sure you’re tracking all of your payments and double-checking that your servicer hasn’t messed up any of your information or repayment progress. It’s become so commonplace for these institutions to mess up the process they’ve been tasked with executing that we just take for granted that it will happen.
Of course, that means you suffer. Whether you don’t see the error when it’s first made, or you have to spend hours of your time rectifying someone else’s mistake, the responsibility often falls on you, the borrower, to make sure your servicer isn’t screwing you over.
Has this happened to you? Did your servicer mess up payments or other information of yours (for example, the interest rate or loan balance, or have they steered you toward a more expensive repayment plan)? And what did you do to correct the mistake? Let us know in the comments, or better yet, email me at [email protected]. I’d love to hear from you.
About the author
Personal Finance Writer, Lifehacker |
More money fun: https://tinyletter.com/moneymoves