In order to make sure your payments are for the correct amount, we require that you keep our servicer (Meratas) up to date on your income as soon as you graduate, and that you report your income within 5 business days of getting a job. It's also important to let us know the name of their employer, and your job title. The fastest way to do all of this is upload your most recent pay stubs!
From there on, its your responsibility to report any changes to your income within 5 business days of the change, or at our request.
Before your first monthly payment, you'll need to upload either a pay stub, a letter from your employer, an independent-contractor agreement, or some other form of evidence to verify your reported income.
Additionally, each year we reconcile your reported income with your tax returns to verify you never over or under pay. In order to do this, you'll need to upload a year-end pay stub, a 1099, a W-2, or other proof showing your earned income for that year by April 30th.