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Help! Student Loan

October 20th, 2023 at 10:00 am

I diligently monitor my student loan balance, interest, and payments on a daily basis.

On average, my daily interest rate used to be approximately $5.80, but it has now surged to $11.70, nearly doubling.

This increase is perplexing, especially since my loan balance has decreased. I plan to reach out to the service provider for clarification. Does anyone have information on where I can report this matter?

Posted in Debt | 4 Comments »

4 Responses to “Help! Student Loan ”

  1. anonymous Says:
    October 20th, 2023 at 02:29 pm 1697812164
    1697812164

    I would say to first contact the provider. Is it possible that your latest payment has not posted or the interest rate went up? It's crazy that the interest can accumulate that much in a day. What is the interest rate? It sounds like highway robbert.

  2. Lots of ideas Says:
    October 20th, 2023 at 02:45 pm 1697813125
    1697813125

    Does the site you are looking at show the interest rate or just the accrued interest?

  3. Amber Says:
    October 20th, 2023 at 04:06 pm 1697817998
    1697817998

    Trying to contact the service provider is like me attempting to perform oral surgery, it’s crazy. I did check the interest rate and it’s 6.875%, nothing has increased. I found an email address so I’ll try that way.

  4. Lots of ideas Says:
    October 20th, 2023 at 08:46 pm 1697834791
    1697834791

    If they have a software glitch, lots of people might be calling…

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