Tag Archives: StudentLoanProblems

Three Major Reasons to Stay in Touch With Your Student Loan Servicer

Staying on top of student loans and avoiding default requires constant contact with student loan servicers. Loan servicers are the organizations tasked with collecting and keeping track of student loan debts. These organizations can also help borrowers pick repayment plans, customize payments, set up automatic billing and process requests for deferments or forbearance. To help understand how servicers can help borrowers, we will provide more details. Student loan servicers are the first point of contact for borrowers. They are the gatekeepers for modifying personal student loans. Before former students and graduates can set up repayment options, such as income-based repayment plans, they have to go through student loan servicers. Automatic bill pay can be extremely useful by making it more likely payments will be received on time every month. Most student loan servicers have this as an option. Some servicers can also send reminders to the mobile phones of borrowers…
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