Pro Tips for Managing Your Student Loans Post-Repayment Pause

With the end of the student loan repayment pause, it’s time to ensure you're on track. Whether you're pursuing Public Service Loan Forgiveness (PSLF) or using an income-driven repayment (IDR) plan, here are some essential steps to take right now.

1. Update Your Contact Information

The first thing you need to do is verify that your contact information is current. You can do this on both your loan servicer’s website and through StudentAid.gov. This ensures that you won’t miss any important updates, especially as payments resume.

2. Verify Your Payment Count

It’s critical to confirm the accuracy of your payment count, especially if you’re on the path to forgiveness. If you’re in the Public Service Loan Forgiveness program, your loan servicer should be MOHELA. If your payment count seems off, you can request an updated count from your servicer. Be sure to have documentation, such as bank records, to back up your claim.

If you're noticing discrepancies in your payment count, there's a streamlined way to file a formal complaint through the Student Aid Feedback Center. You can upload proof of your payments and detail any discrepancies to ensure your loan servicer counts all of your payments accurately.

3. Steps to File a Complaint for Incorrect Payment Counts

If you have been diligent in making payments but notice discrepancies, here’s how you can file a complaint:

• Go to the Student Aid Feedback Center.
• Select the appropriate category for your complaint (e.g., issues with payment counts).
• Clearly state the number of payments you've made versus the number your servicer recognizes.
• Upload any supporting documentation, such as bank statements or emails from your servicer.
• Submit your complaint and follow up as necessary.

4. Consider PSLF Buyback Options

If you had periods of deferment or forbearance, there may be an opportunity to “buy back” time toward Public Service Loan Forgiveness. This applies if you can certify your employment during those periods. To pursue this, contact your servicer and let them know you want that time to count towards PSLF.

Stay Informed and Take Action

With millions of borrowers resuming payments, it’s more important than ever to ensure your records are accurate. If you're having issues with your servicer, the Department of Education now offers a streamlined way to address your concerns through its official complaint process. Take advantage of this time to review your accounts and avoid any future issues with payment accuracy.

For more detailed guidance, feel free to reach out to us at myloansense.com. Also, check out our video on how to buy back time towards PSLF, which could be a game-changer for those on the forgiveness track.

At LoanSense, we specialize in student loan solutions, helping you save for a down payment or manage finances. Visit us at myloansense.com to get a free student loan plan.

If you need personalized assistance or have questions about your specific situation, our experts at LoanSense are here to help. Visit our website at www.myloansense.com to learn more about our services and get in touch. You may also check out our YouTube Channel for more informative discussions and topics related to student loan debt.

Any inquiries can be made to loanhelp@myloansense.com

Need help with what options are best for you? Get in touch with us.

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