Hi Heather, et al.

I’m currently working for the government and have been making payments on time for the last several years.

When my IBR payments were last adjusted, my payment was just over $400. I always like to pay a little extra, just to make sure the payment qualifies, or so I thought.

Fedloan servicing applied my small extra amount to my next payment, and reduced my next bill. When I got the bill, I paid $400 exactly, figuring I was ok because it was over the amount I was billed for. I believe Fedloan servicing is telling me ( although I can’t understand all their jargon) that since $400 was just slightly less (less than $2) that the “installment amount” (the amount which would have been due had I not overpaid the month before) that those payments don’t count.

This is excruciating frustrating because I paid the amount given to me on my bill,and was just a couple dollars off for the months not being counted. Does this make sense to you under current law? Is fedloan servicing right?

Also, I was told two of my other payments would not count because I paid them on the first of the month, and my bill wasn’t generated until the 5th, again an extremely frustrating.

Thanks!