Do you realize you can find guidelines in your education loan contract that most servicers have to follow whenever payments that are applying your loan?

Do you realize you can find guidelines in your education loan contract that most servicers have to follow whenever payments that are applying your loan?

The guidelines need that outstanding interest and fees that are lateif applicable*) needs to be compensated first, prior to a repayment being placed on the mortgage principal.

Nonetheless, with regards to payments that are excess do have more freedom. We immediately use excess to:

  1. Accrued interest as your final re re payment. Continue reading “Do you realize you can find guidelines in your education loan contract that most servicers have to follow whenever payments that are applying your loan?”