Are there any fees associated with student loan servicing?

Yes, there are fees associated with student loan servicing in North Carolina. For most loans, the loan servicer will charge a fee of 1.5% for each payment. There are also fees for late payments or for changing the repayment plan. If a payment is more than 30 days late, the loan servicer may charge up to 10% of the monthly payment. If the borrower wants to switch their repayment plan, they will likely have to pay an administrative fee of up to $50. It is important for borrowers to read and understand all the terms and conditions of their loan before signing on the dotted line. It is also important to make payments on time to avoid additional charges. Additionally, there are other fees and charges associated with student loan servicing, such as for processing, handling, or returning payments, or for collection costs. To summarize, loan servicers charge fees for late payments or to change the repayment plan, as well as other fees. Borrowers should be sure to read and understand all of the associated fees before signing the loan documents.

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Are there any fees associated with student loan servicing?

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