Hello - hoping for some guidance (and education) on this. My private student loan servicer changed from Great Lakes to First Mark about six months ago. I had the same monthly payment with Great Lakes having set my repayment to a gradual repayment and having reached the max. (Hopefully I am making sense.) When First Mark took over the loan, the payments went up by about it $200. I called and FirstMark stayed that GL had not been calculating interest. Now my monthly payments will fluctuate. When I look on FM's summary of my loans, the principal amount is higher than the dispersed amounts. I have been making payments for at least 10 years. The interest rate listed is 5.38%. I don't understand why it would still be so high? I currently pay $770 a month.
Submitted August 27, 2019 at 12:55AM by lumoslindsay https://ift.tt/344FO6y
