Loan servicing

Loan servicing is when you borrow money from someone, like a bank, and they help you take care of your loan. Just like how your parents have to take care of you and make sure you have everything you need, loan servicers have to take care of your loan and make sure everything is going okay.

Basically, loan servicers help you with your loan from start to finish. They help you apply for your loan, figure out how much money you need to pay each month, and make sure you're making your payments on time. They also help you if you have any questions or problems with your loan.

Think of it like a teacher helping you with your homework. They give you the tools you need to get started, guide you through it, and make sure you're successful in the end. Loan servicers do the same thing for your loans.