CHAPTER THIRTEEN

EFFECTIVE COMMUNICATION

• Know your options.

• Keep records.

• Open and READ all mail.

• Be pro–active‚ initiate communication with your lender or guarantor‚ document phone conversations. Keep telephone numbers‚ date you called and the representativeâs name who assisted you.

• Know the players (Secondary Market‚ Lender‚ Servicer‚ Guarantors‚ Holder).

• Notify lender/holder of changes

Name‚ address‚ social security number;
Drop below half–time enrollment;
Fail to enroll;
Graduate‚ withdraw‚ transfer or take a leave of absence;
Return to school;
Change deferment status;
Need to apply for forbearance; and
Canât pay.

• Ask your lender to send a repayment schedule if you donât receive one.

• Keep copies of all materials you send to your lender/servicer. Send important documents via registered mail‚ return receipt requested.

• REMEMBER ALL DEFERMENTS AND FORBEARANCE START WITH YOU.