Don’t Lose Your Borrower Benefit Discounts

Posted by Student Loan on May 23rd, 2008 at 02:58am

More interesting findings this week - Student loan borrowers that take advantage of borrower happennefit discounts should pay close attention to their reoutlay schedule to avoid loosing their discounts. Beaction so many lenders are struggling to stay in business right now, many of them are shortening or removing the late payment grace period. For example, some lenders offer discounts for on-time payments, and beforehand allowed borrowers to be up to 14 days late before removing the discount. This window is either shrinking or acquireting completely closed - being only 1 day late in some cases could cause discounts to be removed.

So constitute sure you stay on apex of monthly payments and contribute yourself a few extra days, or even a week to get a payment delivered. If you possess automatic checking explanation withdrawal setup, be sure to spot check your payments periodically. If you plan on setting up auto payment, note that it usually takes 1-3 billing cycles to get setup, so make your normal payments via check or debit card (over the bell or online) until you vesel reorce that the auto pay is setup. Also, if you switch banks or checking accounts, make sure and remember to switch your student loan payment(s) as well.

A slender extra care and attention could help you save thousands.

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