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The Advisor and Loan Servicers

The Advisor and Loan Servicers

This module discusses the challenges associated with student loan servicing companies. These organizations are assigned to administer loan programs and work with borrowers. The module identifies the challenges of working with these companies, and how to best protect your client’s interests. Many of the common issues related to borrowers who are in an income-driven repayment plan.

 

Topic Features

  1. The role of the loan servicing company
  2. A large variety of companies performing this function. Highlights of selected companies.
  3. What servicers technically can and cannot do for the borrower
  4. Common scenarios that occur
  5. How clients should be prepared when contacting a servicer
  6. Documenting your activity with the servicer
  7. Advising clients about their servicer interaction
  8. Making the decision to contact a servicer on behalf of the borrower
student loan servicing

Forms, Documents, Articles

  • CFPB annual report from the student loan ombudsman
  • Student education web site