I'm attempting to make an overpayment to my student loans and wish my payment to not defer my monthly payment date, not alter my payment schedule, not pay off any unpaid interest, and only be applied to the principal of the highest interest loan with the highest balance. Using the template letter from the CFPB, found here, I've drafted the following:
I am writing to provide you with instructions on how to apply the funds for the enclosed payment:
The full amount of this payment should be applied to the principal of the highest interest loan with the highest balance.
If any additional amount above the minimum amount due ends up paying off an individual loan, please then apply any remaining part of my payment to the principal of the loan with the highest interest rate and highest balance.
No part of this payment should be applied to my monthly payment nor be applied to unpaid interest and the payment date should not be postponed because of this payment.
My loan servicer is Navient, who has gotten in trouble for not following requests from borrowers, so I want to make my letter as clear and concise as possible. Is this at all well worded or does it need modifications to be absolutely correct?