I recently refinanced my fed loans (through Aidvantage) through Earnest. I noticed the payoff amount that went through was 2-3k more than the amount owed. Now when I log in to Aidvantage, my account shows negative balances for some of my loans. It has been nearly 1 month since the payoff went through. Has anyone had this issue before and were the discrepancies reconciled correctly? I contacted Aidvantage and was told they are experiencing issues and to try back another time (annoying). Thoughts?

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Payoff amounts isn’t the same as your remaining balance as your account may have accrued interest during the month.

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Agreed on that. I should have noted that the negative balances on my Aidvantage account add up to the 2-3k more that the payoff was (I.e. , it looks like Aidvantage owes Earnest an overpayment)

If they overpaid, the amount will eventually be reduced from your new loan or a check will be sent

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Thanks. I contacted Earnest and they let me know that Aidvantage will need to initiate a payback, which it usually takes them about a month to do. It has been just shy of a month, so hopefully it gets addressed soon.

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