What will happen with the overpayment made to my previous servicer?

This issue of overpayment is frequently brought to our attention. The following is how we address such situations: 1) If the amount we send to your existing servicers is greater than the current balance of your loan, the existing servicer will in most cases, return the overpayment to SoFi. 2) Once the overpayment is received, SoFi will apply the overpayment retroactively to your existing SoFi principal balance. Overpayment refund can take 6-8 weeks to be applied. Department of Education Servicer will take 10-12 weeks. You may also choose to contact your servicer to inquire about their processing and posting times.