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  • Loan Repayment

    As far as I can tell, the Guard pays back the loan servicers in payments, and not in a lump sum? I've recently got an email saying that Fedloan is now the servicer of my contract. They're not the most reputable, and countless people have gone delinquency on their loans since they aren't processing payments timely or correctly. What would happen if I did get delinquency on my loan, how would that reflect on my college benefits for the future?

    These links talk about Feloan, the first link is the most informative. Read the comments and you'll see a lot

    http://thecollegeinvestor.com/157/fe...loan-servicer/
    http://thecollegeinvestor.com/249/wh...oan-continued/
    http://thecollegeinvestor.com/536/fe...aga-continues/

  • #2
    Re: Loan Repayment

    That is correct. Your loans will get paid off in payments annually. This means that every year you'll need to send in your lender's information so that they can update anything that has changed. As far as delinquency, you will need to make sure that your loans do not fall into delinquency or, on your anniversary date, your SLRP will be suspended. Even if you're lender is a questionable company, you should have a pretty good idea of when your bill is due every month. I would recommend being extra vigilant and try to communicate with them before too many payments aren't processed.

    I did a whole sticky on SLRP. Be sure to look at this for details on how your incentive can be terminated and/or suspended: SLRP.

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    • #3
      Re: Loan Repayment

      Great, thanks.

      Comment


      • #4
        Re: Loan Repayment

        Originally posted by CallSign View Post
        Great, thanks.
        Glad I could help!

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