Reported 2 days ago
Annie Nova, a grad from New York City, found herself in a tricky situation when her student loans were unexpectedly transferred to a new servicer and placed in administrative forbearance, leading to potential interest increases without her consent. This situation raises concerns among millions of borrowers about how lack of communication during servicer transitions can affect their loans. To avoid similar pitfalls, borrowers are advised to keep detailed records of their loans and take prompt action when notified of a transfer.
Source: YAHOO