Business and Personal Finance Dictionary

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• SERVICER
  
  The organization that services your student loan. Servicing activities include repayment billing, forbearance processing, deferment processing, and collecting on delinquent loans. Some lenders and holders service their own loans. Many others hire companies to do the servicing for them. These companies are called loan servicers. If a lender or holder of a loan uses a servicer, the borrower should send repayment checks, deferment forms, and forbearance requests, along with other correspondence to the loan servicer.
  
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