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Student loan borrowers to receive ‘personalized’ explanation about repayment errors

Many student loan borrowers have experienced various errors with their servicers since payments resumed last year, but the U.S. Department of Education says these will eventually be fixed.  

Borrowers have encountered issues like late statements and erroneous banking fees since October 2023, prompting the Education Department to post guidance for borrowers who found mistakes in their accounts.  

According to the guidance, borrowers should receive “a personalized communication from their loan servicer outlining what steps the servicer is taking to correct any issue(s).” 

Read more: Business Insider 

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