Are you among 10 million trainee loan customers whose trainee loan servicer will close down at the end of the year? Here's what to do.

< img src= "https://static6.businessinsider.com/image/60f868dcfc253600181fa789-2065/GettyImages-869673982.jpg" border =" 0" alt=" Graduates basing on a field tossing mortar board in the air" data-mce-source=" PeopleImages/Getty Images" data-mce-caption=" Make certain youkeep track of crucial loan documents before your student loan servicer changes." >< bi-shortcode id= "table-of-contents-sticky" class=" mceNonEditable" data-type =" h2 "> Tabulation: Masthead Sticky< bi-shortcode id=" summary-shortcode" data-type=" summary-shortcode" class=" mceNonEditable" contenteditable=" false" > Summary List Positioning Granite State Management and Resources, a trainee loan company that services federal loans, revealed last month it would not extend its agreement with the federal government after December. If you're one of the 1.3 million borrowers that GSMR services, the Department of Education will move your loan to a new company after this contract expires, though the details are hazy. The Pennsylvania Higher Education Help Company, another federal loan servicer, made a comparable move last month when it announced it would not restore its federal agreement. This brings the total variety of debtors in flux to almost 10 million. To find out if you're loans are serviced by among these business, inspect the preliminary correspondence you received from the federal government when you got

your loan. Luckily, there are a number of things you can do to get ready for the switch-- or prevent it completely if you pick to do so. File all of your present documentation One of the bigger problems you might deal with as your loans are handed over from one student loan servicer to the next is the lack of constant record keeping.

You'll wish to ensure you can prove you made prompt payments on your loans, so you can print or download your payment history from your lending institution's site and shop it in a safe place. Keeping an eye on your payment history is especially crucial if you remain in the general public Service Loan Forgiveness program or are on an income-driven repayment plan, as the time spent paying back these loans is vital to ultimately get

trainee loans forgiven. You ought to also maintain copies of all correspondence in between you and your loan servicer, including anything referencing your enrollment in PSLF or an income-driven payment strategy. Save paper copies if you can and submit digital copies to the cloud. #div- gpt-ad-1579713650634-0 > div > iframe window.googletag= window.googletag|| ; googletag.cmd.push( function() js);. googletag.cmd.push (function( )googletag.display (' div-gpt-ad-1579713650634-0'); );