Federal Loan Servicer Preparation and Notification to Borrowers

Federal Loan Servicer Preparation and Notification to Borrowers

Since the amended legislation especially provides that the latest interest determinations apply “retroactively” to July 1, 2015, Federal scholar help happens to be dealing with our federal loan servicers to make sure that: (1) they’ve been prepared to implement the brand new prices for new Direct Loans they get; (2) they reset rates of interest for several loans first disbursed on or after July 1, 2015 they have currently gotten for servicing; and (3) they notify all affected borrowers for the rate of interest modification. Continue reading “Federal Loan Servicer Preparation and Notification to Borrowers”