Private Student Loan Inquiry Sample Letter printable pdf download

Private Student Loan Inquiry Sample Letter

October 16, 2014

Private Student Loan Inquiry

Sample Letter

You’re saying: “I may be eligible for a lower

monthly payment. What are my options?”

You may use the sample letter on the next page to ask your loan servicing company

for more information about how to lower your monthly payment.

H o w to u s e th i s sample letter :

1. Read the background below.

2. Fill in your information on the sample letter and edit it as needed to fit your

situation.

Delete any information that doesn’t apply to you, or isn’t information you’re

looking for. You may also wish to complete the attached worksheet to help

you determine how much you can afford to pay each month. You may choose

to send the letter by certified mail or another method by which you can

establish when the letter is received by the intended recipient. You may also

cut and paste the text below into the “Send a Message” or “Contact Us”

feature when you log into your account on the servicer’s website.

3. Keep a copy for your records.

Background

After listening to you and to the student loan industry, we’ve developed some advice

for borrowers who want accurate information on alternative repayment plans and

loan modification options, including a set of instructions that you can consider

sending to your private student loan servicer (the company that sends a bill each

month).

Although some companies are willing to help borrowers during a time of financial

distress, unfortunately, not all private student loan companies offer assistance when

consumers are struggling to repay their loans. Using this letter may help you get a

clear answer and avoid long hold times and transfers from one call center

representative to another.

These instructions may help you get valuable information on repayment options to

reduce your monthly payment or to temporarily postpone making payments. You can

Private Student Loan Inquiry Sample Letter