Читать книгу Personal Finance in Your 20s & 30s For Dummies - Eric Tyson - Страница 48

You may have multiple types of loans with different loan servicers. It’s your responsibility to keep track of them, provide changes of address as necessary, and pay them on time. All your federal student loans can be found through the U.S. Department of Education’s Federal Student Aid website (studentaid.gov/).

Signing up for automatic electronic payments can knock ¼ percent or more off of the interest rate on your student loans. And, autopayment on your loans will keep you current on those loans, benefit your credit score, and eliminate the chance of getting hit with late fees.

If you fall on hard times (for example, you get laid off from your job) and can’t make a payment, communicate with your loan servicer and request a deferment. While your deferment request may be turned down if your circumstances are deemed not severe enough, you may qualify for forbearance, during which interest continues accumulating on your loans but you stop making payments for up to one year. The pandemic of 2020 caused government student loans to be paused, collections stopped, and interest waived until October 1, 2021. If you fail to get in touch and communicate with your loan servicer when you’re having problems making payments, your credit report will show that you are deliquent on your loans and your credit score will suffer greatly (see Chapters 1 and 4 for more about credit scores).