Are all the servicers doing this? They gave me a letter saying my recertification is approved, but they say they will give me the payment amount after this period ends. That will give me 30 days or less to prepare and scramble my budget. I know I can do it, but shouldn't they be giving all borrowers as much notice as possible? I wonder what their rationale is for not putting it right in the approval letter.
Recertified, but who knows what my new payment is? AidVantage won't tell me until it's almost due.
byu/beboppinbossrockin inStudentLoans
Posted by beboppinbossrockin
2 Comments
They should provide you with the new payment schedule once the date gets closer. If the amount wasn’t in the initial letter, you can double check the math yourself and the recertification application should have also given you an estimate if you imported your tax data.
I received the same response from AidVantage. I thought it was odd, too. It doesn’t allow much time to correct an error before the payment would be due.