topic Re: How frequently does your loan servicer report to credit bureaus? in Student Loans

How frequently does your loan servicer report to credit bureaus?

ChemE_Bear — Sun, 09 Aug 2020 16:00:12 GMT

Is it inconsistent? My loans are serviced through UHEAA/Cornerstone and it seems like they are more consistent about reporting to EX but EQ and TU lag behind by a month or skip months in reporting my balance or whether accounts are closed/open.

Re: How frequently does your loan servicer report to credit bureaus?

calyx — Fri, 21 Aug 2020 16:00:38 GMT

@ChemE_Bear wrote:
Is it inconsistent? My loans are serviced through UHEAA/Cornerstone and it seems like they are more consistent about reporting to EX but EQ and TU lag behind by a month or skip months in reporting my balance or whether accounts are closed/open.

Hello fellow Cornerstone/UHEAA "customer!"

It took a few months for Cornerstone to get mostly-consistent with me with EQ being the last to get right (by far). For the past ~18 months (I consolidated with them in August/September 2018) there's about a window of a week where they report to the three CRAs, with TU always being the last to update.
Also, regardless of WHEN it updates, it always reports the balance on the last day of the month + accrued interest.

Re: How frequently does your loan servicer report to credit bureaus?

zerofire — Tue, 01 Sep 2020 00:14:05 GMT

I find that when the pandemic is not in force Navient will update my loans twice a month. Once to butcher the amount outstanding and a day or two later to set it right. Annoying perhaps but as long as they do not ask for the butchered number I think it is fine. During the pandemic they have been just reporting once a month with no change in amount due since I have not been feeding them money. The exception to this is an old set of Nelnet accounts that while I was in school were added and then quickly transferred to Navient's predecessor. The other thing I noticed was that some of my old paid Navient accounts dropped off Equifax but that is not a big deal.