Dumb question about over-paid student loan

[CargoJon]

OK, so we recently consolidated a bunch of school loans, one of which was in repayment.

 

So I made the last payment on it right before the other company paid it off, leaving me with around a $50 credit balance. I called them the other day to ask them if they send me a check or something, and they said they send it to the new lender?

 

Anyone know about this??

[LynnInMN]

OK, so we recently consolidated a bunch of school loans, one of which was in repayment.

 

So I made the last payment on it right before the other company paid it off, leaving me with around a $50 credit balance. I called them the other day to ask them if they send me a check or something, and they said they send it to the new lender?

 

Anyone know about this??

 

Yes. This is a common occurance. Payments are always forwarded to the consolidator.