10 most common student loan servicer mistakes


Manage episode 239354509 series 2471867
By Travis Hornsby. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Most people don’t seem to like their student loan servicer — and for good reason. Here are the 10 most common student loan servicer mess-ups and why they happen.

In today’s episode, you'll find out:

  • The 10 most common student loan servicer mess-ups
  • Why servicers urge switching to Revised Pay As You Earn (REPAYE)
  • How switching to REPAYE can hurt some borrowers
  • Why inaccurate payment counts for loan forgiveness happen
  • How to get your payment count fixed
  • Why inaccurately reporting your spouse’s income is a bad idea
  • How to find out the repayment plan you’re actually on
  • Why you shouldn’t wait on Public Service Loan Forgiveness (PSLF)
  • Why you should use your tax returns to report your income
  • How “paid ahead” status happens
  • Why servicers will sometimes put you in forbearance or deferment
  • Why servicers will avoid answering questions
  • Why servicers don't always tell you about your loan options
  • How did loan servicing get this bad?
  • Congress’ role in bad student loan servicing
  • Why the government won’t spend on better loan servicing
  • What incentives might improve student loan servicing

Full show notes at: http://studentloanplanner.com/36

46 episodes