A local mom wanted to help her daughter with her student loan. But when her payment didn’t get posted to the account, she turned to Solve It 7 for help. Brandon Gunnoe has the story.
Angela beams with pride showing us her daughter Valerie’s graduation photos.
“It’s a proud moment to see her finish school and have done so well,” Angela said.
Valerie graduated from Assumption University this year with her degree and student loan debt.
“Student loans were a hot topic in the news telling us the grace period was ending,” Angela said.
Knowing interest would start accruing in September — Angela made a $5000 payment on Valerie’s loan — in July.
“I thought, let’s get the ball rolling. Let’s drop the balance down a little bit,” Angela said.
The student loan servicing company sent an email saying:
“Thank you for your payment,” which “will be posted to your… account within 48 business hours.”
But in mid-August, Angela got a surprise when she logged onto the loan account.
“I went on the screen; it just showed the same loan amount,” Angela said. “And I’m like, ‘Well, where’s my payment?'”
Then Angela checked her bank account.
“They took that money out of my account. So now I was freaking out,” Angela said.
She called the loan company and says a representative told her:
“Oh, there seems to be a backlog of payments. We had a system issue, and we need to process it manually, so we haven’t processed all the payments yet. So, I was like, ‘Well, why would you take the money out of my account if you weren’t going to process it?’”
Angela hung up and contacted Solve It 7. “I was concerned,” she said. “Are they going to start accruing interest on the full balance and not even recognize the payment I did make?”
We reached out to the company and were referred to the U.S. Department of Education.
A spokesperson said the account came under review because a payment was made by someone other than Valerie.
“That one really puzzled me because we both had the same last name assuming they could probably see that piece,” Angela said. “Why didn’t they contact us to verify the payment?”
But the payment finally posted without any extra interest charges.
“I want to say thank you very much,” Angela said. “Because you got that headache off my back, and it finally got resolved.”
We’re so glad to have helped. If you’re puzzled about a problem, we’ll try to get answers.
Give us a call at 617-367-7777.
Or email, which is the fastest way to reach us: SolveIt7@whdh.com
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