Last month I paid off one of my loans in full. I logged onto edfinancial to pay this month, and I see that my monthly payment amount has increased by $10. Does anyone know why that is? I paid off a loan in full, so shouldn’t it be less? I’m not on SAVE or any other payment plan.
Posted by Kapsel1135
2 Comments
Look into consolidating all your loans….. This may be beneficial in a lot of ways.
Normally paying off a loan will remove that loan’s minimum payment.
>I’m not on SAVE or any other payment plan.
You have to be on *some* plan. What is it? Depending on the kind of plan there are situations where you payment can increase, or simply be adjusted in either direction. $10/mo is well within what I’d expect for a periodic re-disclosure adjustment.