Concerned About Auto Billing for Student Loans? Use this Simple Tip to Avoid!

We are hearing numerous reports of  surprise billing by student loan servicers especially now that SAVE is no longer an option.  Or the checking account is being hit with a standard repayment amount rather than an IBR payment based upon someone’s income.  If f you have permitted auto billing in the past, you may be surprised by a charge out of the blue for an unexpected amount.

A tip to help avoid this situation is to set up a separate checking account to obtain the .25% auto pay deduction.  This will avoid a surprise payment and a cascade of NSF fees that could result.