I got a notification today that it was time to repay my loans. I’ve been in forbearance for a while because I just can’t cover my loans on top of my rent and other bills. When I logged into the site, I was informed that half of my loans have been transferred to another servicer.
So I log onto the new servicer’s website and not only do I have a payment due next week, it’s for WAY MORE than I ever paid with my old servicer. So I’m trying to frantically apply for income-based repayment and maybe forbearance, but they won’t let me do anything electronically the way my old servicer would. Argh. I email them, and they don’t respond today… we’ll see if they respond tomorrow. I tried calling them, too, but the line was busy. I have no idea what I’m going to do. Hopefully I’ll talk to them tomorrow, and I’m definitely going to get my stuff submitted to them (I learned that I could fax stuff instead of mailing it–everything on their website says to MAIL STUFF TO THEM, which is absolutely ridiculous. So at least I can fax them stuff.)
At the moment, I have no faith whatsoever in this company not to completely screw my loans up. I searched for a reason why these loans (and not my others) were transferred, and I found this article: http://www.propublica.org/article/student-loan-borrowers-dazed-and-confused-by-servicer-shuffle
Apparently, the health care law required federal loans to be serviced by non-profit servicers. Which has fuck-all to do with healthcare, but WHATEVER. We had to pass it so we could find out what was in it, and here we are… additional taxes for real estate purchases and non-profits poorly servicing millions in student loans…