When student loan payments restart, many borrowers may have a different servicer

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When student loan payments restart, many borrowers may have a different servicer
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You may have a difference servicer when federal student loan payments resume in October.

Some will need to create an updated online account with their new company."But the communications they received would have told them if they needed to take that step," he added.

If you were enrolled in automatic payments with your servicer, which usually leads to a small discount on your interest rate, you may need to reenroll, Kantrowitz said. You'll also want to make sure your new servicer has your latest contact information, he said, as these details might have changed duringAlso, Kantrowitz said,"whenever there is a change of loan servicer, there can be problems transferring borrower data."Payments due in roughly two monthsYour due date should be at least 21 days after you are sent a loan statement, Kantrowitz said.

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