How to Work With a Student Loan Ombudsman – US News & World Report
- December 14, 2020
- By: Greenpath Financial Wellness
Did you know there are resources to lean on when making formal complaints about your student loans? The US News & World Report website “Student Loan Ranger” shared GreenPath’s insights about working with ombudsmen.
An independent mediator can help with formal complaints about loan balances, payment discrepancies, or other issues with student loan debt.
Common student loan complaints include discrepancies with the account balance. There are a number of reasons why the total amount you owe on your federal student loan might be higher than you expect it to be. Other common complaints include an account placed prematurely in default. This can happen when you move or change your address and payments are not made appropriately. This also could happen if you paid less than the amount due, or you thought your account was in deferment so did not make a payment.
Making Formal Complaints
In the article, we describe the role of student loan ombudsman which includes serving as an independent mediator who can help with loan balance and payment discrepancies; explain interest or default charges, loan consolidation and bankruptcy; identify repayment options; and review laws affecting your student loans.
Although it can be stressful managing student loan debt, you have help.
GreenPath’s experts can walk you through your options when managing your student loan debt. 91% of people served by GreenPath feel better prepared to handle their finances. Together let’s make a plan for managing your full financial picture to support your goals.