Traps to Avoid as Payments Resume
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As student loan payments restart after a three-and-a-half-year break, borrowers are facing challenges. Most of the traps revolve around applying for SAVE, linking your IRS data to the Department of Education, and reaching out to your student loan servicer. When navigating these pitfalls, it\\u2019s crucial to consider your unique situation instead of blindly following the Department of Education\'s one-size-fits-all solution. Listen in to learn common mistakes to avoid and what to do when your servicer messes up.
In today\\u2019s episode, you\'ll find out:
- How to avoid payment traps and servicer mistakes as payments start
- When to set up autopay, and when to turn it off
- What to consider before applying for the SAVE plan
- Why you shouldn\\u2019t link your IRS data with the Department of Ed
- Problems with income recertification\\xa0
- When alternative documentation for income is best for borrowers
- Downsides of calling your servicer with student loan questions
- How to be strategic to find solutions for servicer issues
- What to do when your servicer messes up
- Actions to take to resolve servicer mistakes
- How to get support to navigate servicer issues
Links mentioned:\\xa0
StudentAid.gov
SAVE Repayment Plan
Student loan servicers
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Feeling helpless when it comes to your student loans?
- Try our free student loan calculator
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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!
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