Issue link: https://www.epageflip.net/i/670030
Thereisnodoubtthat student loans can be troubling for both stu- dents and parents. And if you thought it was a pain to get those loans in the first place, just wait until you start making payments. DEAR MARY: We are currently repaying our Parent Plus Loans. We are making the required minimum payment each month, plus an additional amount to pay down the principal. When reviewing the accounts recently, I no- ticed that all of my pay- ments for some of the months have been ap- plied to the interest, whereas payments from other months have been applied to the principal and interest. I have called two times to have my account re- viewed and corrected. The supervisor said that the inconsistencies are due to how the auto- mated system applies funds. If we pay ahead too far on one loan, the payments will no lon- ger be paid to that loan, which then allows inter- est to accrue. I am ap- palled by how this lender is defrauding its custom- ers. Can I report them to the Better Business Bu- reau or the state attorney general? — Holly DEAR HOLLY: Of course you can report this lender to both of- fices. But I wouldn't waste my time going that route if you actually want actions taken to fix these issues. Here is the scoop on prepaying student loans: All education loans, in- cluding federal and pri- vate student loans, al- low for penalty-free pre- payment. This means you can make extra payments to reduce the balance of the loan, or even pay off the entire balance early, without having to pay an extra fee. When a lender receives payments on a loan, the payment is applied first to late charges and col- lection costs, then to out- standing interest, and if there's anything left, to the outstanding princi- pal. Any payment over the amount due (the to- tal amount for late charges, collection costs and monthly installment as specified in the repay- ment schedule) is consid- ered a prepayment. But wait, there's more! Federal regulations al- low the lender to apply a prepayment toward "fu- ture installments by ad- vancing the next pay- ment due date," unless otherwise specified by the borrower. For this reason, it is important to include a note with any prepayment indicating that you want the prepay- ment applied to reduce the principal balance of the loan. Otherwise, the lender will treat it as though you have paid your next installment(s) early, and may delay the next payment due date(s). My advice is: Number 1: Include very clear written instructions with every payment. Do not assume that the per- son processing your pay- ment will remember your instructions or any phone conversations from last month. Word the instruc- tions as if it's the per- son processing your pay- ment's first day of the job. Number 2: Appoint yourself as the man- ager. Take charge to see that the payments are made properly accord- ing to the federal student loan repayment guide- lines stated above, and properly credited. Think of the employees on the other end as your staff. Is this crazy? Not really. Someone needs to be in charge here, and no one cares more deeply about how this job gets done than you. Number 3: When it comes to making pay- ments on federal student loans — or any debt for that matter — do not as- sume anything. In these days of automated pay- ment systems, do not as- sume that your payment will be processed by a hu- man. Do not assume that anyone will be bothered to read that little note you included. Do not as- sume that your payment reached its destination by the due date. Basically, trust if you want — but always verify. Number 4: Follow up every single month to make sure that your pay- ment was processed ex- actly as you instructed. If it wasn't, act quickly to have them correct their mistakes, and verify that they've corrected them. Number 5: If, despite all of your efforts to fol- low the guidelines out- lined above, you are un- able to solve the prob- lem, you can contact the Federal Student Aid Om- budsman Group, located in Washington, D.C., for help. Contact them online or by mail. I applaud your dili- gence in repaying these loans. I have a feeling that you're going to have an advanced "degree" in handling federal loans and college debt by the time you're through. EVERYDAYCHEAPSKATE When it comes to student loans, don't assume anything Mary Hunt SpecialtotheDailyNews Organizers of Civil War Days Red Bluff have an- nounced a free shuttle ser- vice to take visitors from the Home Depot parking lot, 2650 North Main St. in Red Bluff, to Samuel Ayers/ Dog Island Park for the 2016 "Collision at Dog Island" event. Thisisthetwelfthan- nual reenactment and will be held on Saturday and Sunday, April 23 and 24. There is no general pub- lic parking at Dog Island during the event, with the exception of handicapped parking. Home Depot is providing free parking and Paratransit will be running a shuttle bus between Home Depot and the park every 15 minutes. The event and shuttle service both start at 9 AM and continue to 5 PM on both Saturday and Sun- day, April 23 and 24. There will be two bat- tles on Saturday at 12 noon and 3 PM, and two battles on Sunday at 11 a.m. and 2 p.m. Visitors can tour the Union, Confederate and Ci- viliancampsthroughoutthe day. Live, authentic Civil War fife and drum, as well asbrassbandmusicwillplay throughout the day. Admission at the gate is $5 for ages 11 to adult, $1 for children 6-10 and free admission for 5 and under. FreeshuttletoDogIslandforeventinRedBluff CHICO Gardeners, plant enthusiasts and the gen- eral public are invited to a plant sale at the Uni- versity Farm greenhouse complex. The sale will be open from 10 a.m. to 5 p.m. on Thursdays and Fridays through the end of April, or until supplies run out. Plants avail- able for sale include or- ganic vegetable and herb starts, annual and peren- nial flowers, and other plants, ranging in price from $2 to $5. The plants were grown at the University Farm greenhouses in collabora- tion with the Chico State Organic Vegetable Proj- ect, the Crop Science and Horticulture Club, and numerous classes offered through College of Agri- culture. Greenhouse Tech- nician Matt Housley said the project expands op- portunities for students to gain experience in plant science and nursery pro- duction. "We have more and more students with an in- terest in plant science, and growing vegetable starts is a great way to give them hands-on experience and see pretty immediate re- sults," he said. "The fact that these plants are now available to the public is an added benefit." The University Farm is located at 311 Nicho- las C. Schouten Lane in Chico. For more informa- tion contact Matt Hous- ley at 530-898-6023 or by e-mail at mhousley@ csuchico.edu. PlantList Vegetable and herb starts: Tomatoes, pep- pers, eggplant, cucum- ber, squash, melons, let- tuce, mizuna, onions, shal- lots, leeks, Swiss chard, thyme, savory, parsley, ci- lantro, dill, fennel, rose- mary, lemon balm, cham- omile, marjoram Annuals: Sweet alyssum, marigolds, nasturtium, cosmos, aster, floss flower, begonias, pansies, ca blue- bells, coleus, sweet pea, cy- press vine, impatiens, echi- nacea Perennials: Succulents, feverfew, carnations, li- ons tail, hops, variegated ivy, scented geranium, lily of the Nile, rudbeckia, spi- der plant, snake plant, pe- tite pink scotch rose, cob- web spiderwort Trees: Oregon Ash. CHICO STATE Plant sale set at University Farm The Bureau of Reclama- tion has released environ- mentaldocumentsfortheim- plementation of a temporary program for annual water transfers, pursuant to Sacra- mentoRiverSettlementCon- tract No. 14-06-200-855A- R-1 for Contract Years 2016 through 2020 (April 1, 2016 through October 31, 2020). The transfer program will continue previous wa- ter transfer programs, un- der which Glenn-Colusa Ir- rigation District may trans- fer up to 20,000 acre-feet of base supply from the GCID service area to contiguous irrigable lands to increase operational flexibility and meet agricultural demands on the transferee's lands. The Environmental As- sessment and Finding of No Significant Impact were preparedinaccordancewith the National Environmen- tal Policy Act and are avail- ableathttp://www.usbr.gov/ mp/nepa/nepa_projdetails. cfm?Project_ID=25277. If you encounter problems ac- cessingthedocument,please call 916-978-5100 (TTY 800- 877-8339) or email mppubli- caffairs@usbr.gov. For additional informa- tion or to request a copy of the EA/FONSI, please con- tact Megan Simon at 530- 276-2045 or msimon@usbr. gov. The documents may also be viewed at Reclama- tion's Northern California Area Office, 16349 Shasta Dam Blvd., Shasta Lake, CA 96019. SHASTA LAKE Reclamation bureau releases environmental documents COURTESYPHOTO Home Depot employees and Paratransit representatives with Union soldiers of the 72nd New York Volunteer Infantry, event hosts, announce the offering of shuttle rides for the April 23and 24Civil War Days event. CIVIL WAR DAYS Save the Date! 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