Student Loan Borrowers Get Balance Adjustments After SAVE Interest Error
The College Investor Audio Show · The College Investor
Audio is streamed directly from the publisher (episodes.captivate.fm) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Student loan borrowers in the SAVE forbearance may be getting some relief. Borrowers are reporting that when they login to their online accounts there is a new message: “Your Account Balance was Adjusted.”
The notices, now appearing in some borrowers' portals, state that loan servicers recently conducted a review and made changes based on SAVE administrative forbearance and a 0% interest period. For many, the message comes after nearly a year of confusion and concern over balances that appeared to grow despite federal guidance that interest was paused.
Yet even as the notices roll out, some borrowers say the corrections have not fully appeared in their accounts.