What Is The Best Bank To Get A Private Student Loan Through?

I filed a claim though bank of america to get my student loan money back...was that bad?

• Basically I have a $150 student loan payment each month that I pay electronically. Well apparently this month they decided to upgrade their website and completely change everything around. There have been a lot of technical difficulties so not only was I almost late paying them because of the website being down, but when I scheduled a payment it went through TWICE. and $300 was taken out instead of $150. It over-drafted my bank account and I need the money since I'm moving into a different apartment complex in just 2 weeks. So I called the federal student loan office and they said there was nothing they could do about it since it already went though. So out of frustration and anger I called bank of america and asked them what to do, they said to file a claim so I did. And now I'm worried I made a bad decision. I have no idea what this means and what my loan company will do or if bank of america is going to throw fees at me or what. I don't even know WHEN I'll be getting my money back, if I ever do. Any advice PLEASE? Please don't tell me I'm stupid and shouldn't have done it, I already know this.

• Answer:

  Obviously it's never a good idea to dwindle your bank account down the the point that you only have a hundred or less dollars, but it is unfortunate that this error occurred and sounds like it's not your fault. It sounds like you followed the proper procedure. As long as you've been on time with your student loan payments it won't look bad that you are asking for this money back. After all, it was a double payment that was apparently due to the malfunction on the lender's website. You were double-charged. In an ideal world, you would have had sufficient funds to cover it and you would just shrug it off and say, "Oh well, that means I won't have to pay next month" (most student loans are set up so that if you pay over your minimum, the excess will carry over to next month's payment). But even though it's money that you owe, again, it was their error. So if you're that stretched for money then maybe you should proceed.