re: Fun with student loan refinancing

The problem is MOHELA services the loans, but they don't own them. so, contractually, they are very limited in what they can offer you. Most discounts on interest are actually created when the loan is created - with my Sallie Mae ones, when I signed the loan I was told I would get a discount fo auto pay and a discount after 24 months of ontime payment.

It's no different than people who had trouble getting mortgaged modified. It's cause the people who can amend the terms of the loan are not the people you talk to on the phone.

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Each time you satisfy a bill due, we will automatically advance your next payment due date and your billing statement will indicate a payment is not required for that bill. You may still continue to make payments to decrease your total interest cost and pay your loan off sooner.

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Yeah. I'm like 8 months ahead on Navient because of this.

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I get a call from SoFi letting me know that everything has been approved and I should be receiving a welcome packet soon. They also let me know that the loan servicer will be....MOHELA! So instead of just reducing my interest rate a little and them still making a good bit of money (which they already have off of me), they get charged a fee from SoFi for brokering the "new" loan.

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Again, now SOFI owns the loan. so they get to set the terms. Mohela just keeps making their monthly cut for servicing it.