Obtaining Your Information

Student loan servicers and lenders has been known to manipulate documents. I would suggest that you call you servicer and ask for a copies of these documents.  Make sure you ask for this information for each individual loan, either public or private.

If a verbal forbearance has been placed on your account and don’t believe that it should be there the student loan services  are required to keep a copy of a signed document stating you requested the forbearance or a copy of a recording where you stated you wanted a verbal forbearance  (Code of Federal Regulations 685.205). If they can’t provide a copy of this information tell them to remove your forbearance and the interest which capitalized because of it. Loan servicers push forbearances because it increases the amount of money which is owed on the loan by capitalizing interest. If they refuse to remove the forbearance file complaints with the Department of Education and the other people and organizations listed in chapter 1.

-Promissory notes

- Payment history

-Payment schedule

-Dates of forbearance

-Dates of deferments

-Copies of deferments

-Correspondence sent and received

-Interest which accrued on each loan

-Interest which will accrue on each loan

-Monthly payments and payment schedule if you enter income based repayment

- Your different forbearance and deferment options and how will they affect you payments and loans

This is a perfect example why it is important to stay vigilant and check your student loan documents. If everyone called their provider and obtained these documents student loan servicers will be less inclined to try and scam people, including our veterans out of their hard working money. It is important that the servicers know the borrowers are watching.

http://www.washingtonpost.com/business/economy/sallie-mae-to-pay-97-million-for-cheating-troops-on-student-loans/2014/05/13/bd76c2d8-dabb-11e3-b745-87d39690c5c0_story.html