Here’s what student loan borrowers need to know about repayment, auto-debit, loan servicing changes, and student loan forgiveness.
, your loans will be transferred to a new loan servicer in the coming months, but the Education Department has not yet provided specific details. Some FedLoan accounts areSo far, other Department of Education servicers — including — have not said they are withdrawing, and the Department has extended their contracts for another two years. Many student loan borrowers have used automatic debit programs to pay their student loans.
If you were on auto-debit before March 13, 2020, “Your servicer will contact you before the suspension ends to confirm whether you want to stay on auto-debit. If you do not respond to these communications, your servicer will stop your auto-debit.” If your student loan servicer changes before February, whether or not you have to re-establish auto-debit may depend on the specifics of your situation. According to Navient, when your loans are transferred to Aidvantage, “Your Auto Pay enrollment will automatically switch to Aidvantage, but confirmation may be required if your payments are suspended due to the coronavirus emergency.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analysis | 5 things to know before today's blockbuster Big Oil hearingExpect broad questions from lawmakers on climate change efforts, gas prices, and parallels to the Big Tobacco hearings of the 1990s.
Read more »
Ask The Contractor: 6 Things You Didn’t Know About Replacement WindowsReplacement windows can be an excellent investment. All at once, they can update the look of your house, increase comfort, add to your home’s value and save energy. We can look through our windows every day, but knowing when and how to replace them, if needed, isn’t always so clear. Following are th
Read more »
Things to Know Before Living in Your RV Full TimeReady to ditch your house and hit the open road full-time? Those who adopt a nomadic lifestyle face multiple legal and financial considerations
Read more »
Best new things you should watch on Netflix this NovemberThe best new things to watch on Netflix this November, including Elizabeth Hurley's new Christmas film and Ryan Reynolds' crime caper, Red Notice, alongside Gal Gadot and Dwayne Johnson
Read more »
19 Things To Buy Now If You Need Holiday Vibes ASAPWe all need the holidays to come quickly this year. Here's how to spark joy now, judgment-free.
Read more »