Is Aidvantage a Good Option for Managing Your Student Loans?

Aidvantage is a loan servicer that offers a range of student loan management tools and services. They have a dedicated customer support team that is available to assist with any questions or concerns.

Aidvantage's customer support team is available 24/7, which can be a big help for students who need assistance with their loans outside of regular business hours.

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Student loan servicers are not personal financial advisors, their focus is primarily on collecting student loan payments and answering basic questions about loan repayment programs.

If you have financial issues, it's very important to communicate with your servicer as they are responsible for managing customer service inquiries and ensuring your loans are handled in accordance with applicable laws.

They can provide guidance on dealing with financial issues such as reduced income, job loss, or deferments.

You can contact your servicer through various channels, including phone, email, chat, or mail.

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Here are the contact details for Aidvantage, a loan servicer:

Aidvantage's automated system is available 24/7, but to speak with a live human, you'll need to call or chat during the following hours:

Note that these operating hours are in Eastern Standard Time.

You can view your Aidvantage account summary online, which shows how much you owe on your student loans, whether you have a payment due, and a list of your Aidvantage-serviced federal loans.

Your account summary dashboard also provides additional information about each loan, including its balance and interest rate.

To find your student loan account number, log in to your Aidvantage account, click on your name in the menu bar, and look for the 10-digit account number in the white box.

Your account summary is a treasure trove of information that helps you manage your student loans effectively. You can access it by logging in to your Aidvantage account, where you'll see a summary of your loans, including how much you owe, whether you have a payment due, and a list of your Aidvantage-serviced federal loans.

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The account summary dashboard provides a quick glance at your loan information, including each loan's balance and interest rate. This is a great place to start when you need to understand your loan obligations.

To view your account summary, simply log in to your Aidvantage account and you'll be taken to your dashboard, where you can see your loan information at a glance. You can even print out your loan details, complete with each loan's interest rate, if you need a hard copy.

Here's what you can expect to see in your account summary:

Having a clear understanding of your loan information is key to managing your debt and making informed decisions about your financial future. By regularly reviewing your account summary, you'll be able to stay on top of your loan obligations and make progress towards paying off your student loans.

Your account number is crucial to accessing and managing your account. It's usually printed on your monthly statements.

To find your account number online, log in to your account and look to the right side of the menu bar. You should see a white box with your name on it. Click on that box to access your profile and view your 10-digit account number.

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Repayment with Aidvantage begins six months after you finish your program, leave school, or drop below half-time enrollment. Aidvantage will notify you around 45 days prior to your first due date, by mail, email, or both.

You can make payments through Aidvantage's four channels: online, by phone, by mail, or through autopay. Enrolling in autopay reduces your interest rate by 0.25%.

Aidvantage displays your loan payoff amount within your account summary's "Loan Details" section. You can also verify that your loans have a zero balance by logging in to your account and checking your most up-to-date loan details.

If you pay off your student loans, it's tempting to cancel your autopay, but Aidvantage recommends leaving it as is to avoid surprises. Your autopay should be canceled automatically once your student loans are officially paid off.

You'll be on the standard repayment plan by default, but you can change your repayment plan at any time through your Aidvantage account. You can explore various repayment options, including graduated repayment, extended repayment, and income-driven repayment.

Here are the repayment plans you can apply for through Aidvantage and where to apply:

If you need to pause your loan payments, you can request a deferment or forbearance through Aidvantage's website. Both options temporarily postpone your payments, but interest may still accrue while your payments are paused.

If you're a Navient borrower, you're in luck - Aidvantage, the new loan servicer, is promising a smooth transition.

Aidvantage has taken over Navient's direct loans and has transferred all the account information to their system. Borrowers will keep the same account numbers.

You'll also be able to use your Navient user ID and password to access the Aidvantage website. They've promised to make the transition as seamless as possible.

Aidvantage has sent out welcome letters to all affected borrowers with information on the new website and contact details. Borrowers can contact Aidvantage using the same customer service phone number they used with Navient.

Aidvantage holds a B- rating with the Better Business Bureau (BBB) due to the number of complaints filed against the company.

Most complaints center on billing issues and credit reporting discrepancies, which may have merit. Aidvantage received a $2 million fine for failing to provide sufficient notice to borrowers that their loan payments would soon resume.

Aidvantage's consumer rating is on par with that of other federal servicers. Here's a comparison of Aidvantage's ratings with those of other servicers:

You have more control over your student loans than you think.