When I requested my bills for the length of my loan, they immediately sent me the bills while I was with FLS. The rest were in the warehouse they said and it could take up to 180 days to find them. A few months later they let me know that they weren't there, and neither was my promissory note. I guess when my old servicer went out of business they didn't pass anything on. 😡
So I set up a spreadsheet and had it auto-calculate the monthly difference, instated the number of days, and had it auto-calculate the interest rate. It took a bit of time to set it up and input the data but it was really worth it. The rates were way off! And they changed from month to month sometimes. I think it's such a small amount that people don't notice the difference and they get away with it. And the interest subsidy for my subsidized loans that should have been paid by the government for the first 3 years on REPAYE was no where to be seen.
I'm glad you're deciding to do this. I think anyone paying off their loan will find it will probably save them money.
You're making me appreciate Cornerstone (gasp!). Everything is very transparent with them so far, and my spreadsheets match their information exactly. And when we had our "mishap" they back dated my payment so that I didn't even eat extra interest.
LOL - trust me, I'm not about to tell everyone Cornerstone is the greatest, because they're definitely not, but I can say they've not been too bad for me in the year I've used them.
To be fair, I'm probably a little better versed with the system than many people, so I'm probably an outlier.
I will say that their website has improve miles in the last few months (transparency with payments and interest are nice). But I do still have to get data from the NSLDS that I feel Cornerstone should provide (but is not immediately necessary). When I first started using them, their website was useless and an utter nightmare. It was like finding a GeoCities throwback from the late 90s.
Edited to add: I think most most accurate statement I can make about Cornerstone is that I don't hate them.
I know that you've also gotten more than your share of wrong from other servicers, so you earned a break with Cornerstone. 😁
Is this the same spreadsheet you created to find out when your loan would be paid off? Have you ever seen a breakdown of which portion is subsidized and which isn't?
Yup! Same spreadsheet! And I calculate ahead on mine and see if cornerstone matches, and so far it's been good.
And as for their site - every payment I've ever made, I can check it and break it out into subsidized, unsubsized - all payments, and different filters, so I can even look at just the sub or unsub loan.
This is the basic view of a payment (no sorting, etc) if I click on a payment: