Sep 10

FedLoan Servicing is Terrible: Part IV

It seems like I have finally sorted out my issues with FedLoan Servicing, at least my present and (hopefully) future issues. My paid ahead status has finally been permanently removed, and I manually entered in each amount as I had wrote about in my last student loan update. I was told on the phone that they would be fixing my original payment, but I haven’t received any update on that. I sent a follow-up e-mail as well as sending a certified letter in the mail last week but still haven’t seen any change there either. They are probably going to say that it is too far in the past now that I have made an additional payment, even after all the complaints I sent them before that. Oh well, guess it might just be time to move on from that – until the next issue occurs.
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Sep 01

Win $7,346 to help pay off your student loans!

I recently read about a great contest that is being held by Dave Ramsey that requires very little effort to enter. You can win $7,346 or what he says is the equivalent of “two years average of student loan payments.” The great part of the contest is that you don’t actually need to have student loans in order to enter the contest, almost anyone is eligible. I highly recommend visiting his website and entering the contest for your chance to win! I know I have been putting in my entry each day. It looks like this will be Dave Ramsey’s Contest for 2013 and you have until September 3rd to enter.

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Aug 30

Student Loan Progress – August 2013

After making my student loan payments for August I am definitely feeling more confident about my current status with FedLoan Servicing, even though there are past issues that still need to be resolved. I manually entered all of my loan amounts when making the payments this month and I made sure that my paid ahead status would be removed for this payment as well. I wanted all the extra money to go towards the principal and it seems like that has worked. I continue to put the bulk of my money towards my private loans, so let’s see how that went this month.
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Aug 13

FedLoan Servicing is Terrible: Part III

I’m starting to think that this is going to be a never ending saga! I arrived home yesterday to find a letter in the mail from FedLoan Servicing about my payment for this month, so they now have even more surprises up their sleeve for me! My payment for this month is now just a grand total of $113.16 due on 08/21/2013. I’m completely shocked – I literally do not know what to say. Before I even researched this I had a gut feeling it wouldn’t even be enough to cover my interest and sure enough it proved to be right later on. My previous minimum payment was $343 and you see all the problems I am having with that, how is this payment going to solve anything?
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Aug 11

FedLoan Servicing is Terrible: Part II

Frustrated

I honestly still have no idea how FedLoan Servicing calculates how payments are distributed between loans, but I’m definitely trying to figure it out! My frustration with FedLoan Servicing grows as I’m still unable to find the information I’m looking for or at least some explanation of why my $600 payment (which was $257 over the minimum payment) was not able to cover all the interest. Well technically it was, but FedLoan Servicing had other ideas with it.
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