Being honest with your lender; Oops?!

I had student loans in college. I should say, I still have student loans. After graduating, I knew that I would have six months of grace period when I would not have to pay anything, but the interest would still be racking up. Payments start six months after your graduation date.

Here’s the problem: my lender was changed (for some unknown bureaucratic reason) and when I was finally able to check out my account information with this new lender, I learned that they had my graduation date as sometime in the year 2016.

…what? (O_o)

For the record, I graduated at the end of 2012 and expected my repayment period to begin in June 2013. I struggled for a while as to whether or not to tell the lender the truth. On one hand, no repayments for four years! On the other, probably an IRS clusterfuck. Eek! ( > __ < )

Ultimately I did send an e-mail of concern to the lender and they adjusted my graduation and repayment dates accordingly. Now (unfortunately!) I have my grace period ending in about three months and I am freaking out about it! But I feel that I did the right thing; that I shall not use a false extended grace period to procrastinate on paying off my student loans.


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