I need to look into this. I am 99% sure my loans are federal - I log into aessuccess and loan type indicates both are federal, but the only information on there is that they are experiencing high call volume. My full payment still says it is due at the end of April per usual.
Mine till says the full amount of is due but, when I click on loan details it says "forbearance." I didn't request this, this is them putting it into administrative forbearance. So try clicking on details!
Thanks, I just went back and clicked just about everywhere and no matter what, it definitely says my payment is due as usual. Absolutely nothing about a forbearance and my only option is to click on the ‘having trouble paying’ link and I can get in touch with them to apply for something just like I have always been able to. Lots of disclaimers that they are very busy right now with incoming calls. Likely there are so many calling because it seems I SHOULD be getting a forbearance but don’t see to be.
I would have loved to not pay this for a few months with all that is going on and changed with my job, but I can swing it and not sure how hard I want to try to fight for it.
Mine till says the full amount of is due but, when I click on loan details it says "forbearance." I didn't request this, this is them putting it into administrative forbearance. So try clicking on details!
Thanks, I just went back and clicked just about everywhere and no matter what, it definitely says my payment is due as usual. Absolutely nothing about a forbearance and my only option is to click on the ‘having trouble paying’ link and I can get in touch with them to apply for something just like I have always been able to. Lots of disclaimers that they are very busy right now with incoming calls. Likely there are so many calling because it seems I SHOULD be getting a forbearance but don’t see to be.
I would have loved to not pay this for a few months with all that is going on and changed with my job, but I can swing it and not sure how hard I want to try to fight for it.
I would just call them to find out. If you call first thing in the morning you likely won't have to wait on hold. I had to do that a few weeks ago and I was immediately able to speak with someone as I called the second the line opened.
Mine till says the full amount of is due but, when I click on loan details it says "forbearance." I didn't request this, this is them putting it into administrative forbearance. So try clicking on details!
Thanks, I just went back and clicked just about everywhere and no matter what, it definitely says my payment is due as usual. Absolutely nothing about a forbearance and my only option is to click on the ‘having trouble paying’ link and I can get in touch with them to apply for something just like I have always been able to. Lots of disclaimers that they are very busy right now with incoming calls. Likely there are so many calling because it seems I SHOULD be getting a forbearance but don’t see to be.
I would have loved to not pay this for a few months with all that is going on and changed with my job, but I can swing it and not sure how hard I want to try to fight for it.
I agree I would call and ask. People on reddit said the wait is only about 10 minutes or so.
Thanks all, I eventually found a link where I could just submit that I wanted a forbearance due to Covid. It’s submitted for review. When I called the hold times were hours, that’s not worth it to me.
Post by aliciabella on Apr 4, 2020 12:50:33 GMT -5
Hmm.....mine was taken out a couple of days ago but I need to look into it further. Did they approve the 10k hand-out for federal loan owners? If they approved that I would cry happy tears. Both of our loans would be gone and open up over 500 month extra. Anyone know?
Hmm.....mine was taken out a couple of days ago but I need to look into it further. Did they approve the 10k hand-out for federal loan owners? If they approved that I would cry happy tears. Both of our loans would be gone and open up over 500 month extra. Anyone know?
I don’t think so, I think that got cut out of the final bill. I haven’t read anything about it either. But I could be wrong.
Hmm.....mine was taken out a couple of days ago but I need to look into it further. Did they approve the 10k hand-out for federal loan owners? If they approved that I would cry happy tears. Both of our loans would be gone and open up over 500 month extra. Anyone know?
I don’t think so, I think that got cut out of the final bill. I haven’t read anything about it either. But I could be wrong.
Thanks! I need to go and find out what the bill actually says about it. I will be so bummed if it wasn't included
Thanks all, I eventually found a link where I could just submit that I wanted a forbearance due to Covid. It’s submitted for review. When I called the hold times were hours, that’s not worth it to me.
I would be careful. That is something different. That is likely emergency forbearance which does NOT count towards PSLF or IDR forgiveness (not sure if either of those are issues for you.
The suspension under the CARES act is automatic and does not need to be requested.
Hmmm well I was wrong. Navient has my loan amount as $0 due. I had to manually set up a payment for April, which I did. I just checked my bank account and my normal amount also withdrew. So I am ending up with a double payment this month. So don’t assume $0 due means your usual payment won’t be withdrawn.
Hmmm well I was wrong. Navient has my loan amount as $0 due. I had to manually set up a payment for April, which I did. I just checked my bank account and my normal amount also withdrew. So I am ending up with a double payment this month. So don’t assume $0 due means your usual payment won’t be withdrawn.
My next payment due is sometime in 2022 and Navient says I have $0 due, but my auto payments go through every month.
I am just salty that my federal loans are somehow not really federal loans - pretty sure that I didn't have a choice back in f'ing 1993 when I took out my first Stafford loan to select the local bank (that sold my loans ot Salllie Mae and then Navient) or the federal gov't. The feds also controlled my interest rate so they should have more control now and not claim that my fed loans are private.
What I know is going to happen is that they'll pass some loan foregiveness (like the $10K mentioned above) and put an income restriction on it so I won't qualify when the reason I am still paying these things back at the age of 44 is because of how little I was making compared to my loan balances 10-25 years ago.
I'm a little confused and maybe someone could shed some light. My Navient loan says $0 due for April 15th and through the abatement period. But I also have them set to auto-pay. So if I discontinue the auto-pay the money won't be applied, but will I lose the small percent discount I have for using that? Also, will I also be failing to pay when I am really supposed to? I also have FFEL loans secured by Duechebank.
Probably worth a call, but if anyone has an insight, I welcome it!
Thanks all, I eventually found a link where I could just submit that I wanted a forbearance due to Covid. It’s submitted for review. When I called the hold times were hours, that’s not worth it to me.
I would be careful. That is something different. That is likely emergency forbearance which does NOT count towards PSLF or IDR forgiveness (not sure if either of those are issues for you.
The suspension under the CARES act is automatic and does not need to be requested.
Yeah I likely screwed this up then, but nothing I can do about it now. I’ll let the chips fall where they lie and will plan to just keep making my payments.
I would be careful. That is something different. That is likely emergency forbearance which does NOT count towards PSLF or IDR forgiveness (not sure if either of those are issues for you.
The suspension under the CARES act is automatic and does not need to be requested.
Yeah I likely screwed this up then, but nothing I can do about it now. I’ll let the chips fall where they lie and will plan to just keep making my payments.
Why don't you just call? They were super helpful to me on the phone when I called.
dianecourt, I have FFEL federal loans and, from my understanding, they do not qualify. I am set up on auto pay as well and see 0 due every month but the payment still comes out of my bank. I checked and interest is still accruing. I would check with your servicer to confirm though.
dianecourt , I have FFEL federal loans and, from my understanding, they do not qualify. I am set up on auto pay as well and see 0 due every month but the payment still comes out of my bank. I checked and interest is still accruing. I would check with your servicer to confirm though.
I think this is the same as my situation. Fortunately, I'm still fully employed, so it shouldn't matter at the moment, but I was thinking ahead when I might not be.
I'll give a call tomorrow to see what I can find out. Thanks so much and I hope everyone here is well and able to work these issues out as we go through this time.
I would be careful. That is something different. That is likely emergency forbearance which does NOT count towards PSLF or IDR forgiveness (not sure if either of those are issues for you.
The suspension under the CARES act is automatic and does not need to be requested.
Yeah I likely screwed this up then, but nothing I can do about it now. I’ll let the chips fall where they lie and will plan to just keep making my payments.
I would really call. If you out it into emergency forbearance and you make payments it can place you in pay ahead status which can make things difficult for PSLF. If you have fed loans the wait has been under ten mins and they can be helpful. I am sure you are not the only one.
I'm a little confused and maybe someone could shed some light. My Navient loan says $0 due for April 15th and through the abatement period. But I also have them set to auto-pay. So if I discontinue the auto-pay the money won't be applied, but will I lose the small percent discount I have for using that? Also, will I also be failing to pay when I am really supposed to? I also have FFEL loans secured by Duechebank.
Probably worth a call, but if anyone has an insight, I welcome it!
I would call. I know fed loan said they would suspend auto payment but I am not sure how that works with other loan servicers. Good luck!
I would be careful. That is something different. That is likely emergency forbearance which does NOT count towards PSLF or IDR forgiveness (not sure if either of those are issues for you.
The suspension under the CARES act is automatic and does not need to be requested.
Yeah I likely screwed this up then, but nothing I can do about it now. I’ll let the chips fall where they lie and will plan to just keep making my payments.
If you plan to continue paying and don't want/need the forbearance, call them and cancel it or mail/fax them a letter requesting the forb be removed. Most servicers have a cap on the maximum number of months a FFELP loan can be placed in forb over it's lifetime. If you use it now, this will count against that time--and you may really need it later.
Yeah I likely screwed this up then, but nothing I can do about it now. I’ll let the chips fall where they lie and will plan to just keep making my payments.
If you plan to continue paying and don't want/need the forbearance, call them and cancel it or mail/fax them a letter requesting the forb be removed. Most servicers have a cap on the maximum number of months a FFELP loan can be placed in forb over it's lifetime. If you use it now, this will count against that time--and you may really need it later.
Emergency forbearance does not count towards the lifetime forbearance cap. But she should still call for a bunch if reasons:)
Hmmm, both of my loans with Great Lakes are showing no payment due, even the one I thought wouldn't be eligible. The loan type is "FFEL unsubsidized Stafford" which I'm almost positive I read somewhere did not qualify.
Hmmm, both of my loans with Great Lakes are showing no payment due, even the one I thought wouldn't be eligible. The loan type is "FFEL unsubsidized Stafford" which I'm almost positive I read somewhere did not qualify.
That link indicates FFEL do not qualify. I don't know if private lenders are suspending loans at all. Might be worth a call? For what it is worth, my loans have 100% been suspended and it still shows a payment due (I am with fed loans though). Some private lenders are doing their own suspension program, so it might be worth contacting them.
Looks like mine from Great Lakes have been automatically put into forbearance until end of Sept (one Stafford and one consolidated made up of GradPlus and another Stafford). I have another smaller loan that is not fed and from another servicer that is still auto-deducting payments.
Okay, so my FFEL loans are just serviced by Great Lakes, but still owned by the feds, so they do qualify. I'm about to call them to get my March payment refunded because the act is back-dated to March 13, and my payment date was the 22. I'll keep everyone posted if it works!
Okay, so my FFEL loans are just serviced by Great Lakes, but still owned by the feds, so they do qualify. I'm about to call them to get my March payment refunded because the act is back-dated to March 13, and my payment date was the 22. I'll keep everyone posted if it works!
I got an email from a senator in Oregon (I am not in Oregon but must have signed onto something to get his emails, lol) that has a nice breakdown:
“If you have federal student loans, and:
- You want to suspend your payments, you do not need to take action. Your payments are automatically suspended by your loan servicer and no payment is due through September 30, 2020.
- You’re already enrolled in an income-driven repayment plan for your federal loans, but can no longer afford your payment, your payment is suspended and no payment is due through September 30, 2020.
- Your student loans are in default, know that the Department of Education has halted the collection of defaulted federally-owned student loans including garnishment of wages, offset of tax refunds, and Social Security benefits. This has happened automatically, and no further action is required on your part.
- You can’t afford your loan payments for other reasons, you don’t have to make a payment because your payments will be suspended until September 30, 2020.
- You’ve been contacted to pay a fee on your suspended payments, please know that this is a scam. You do not need to pay someone to help with your student loans.
If you have private student loans:
- And your student loans are in default, you should contact your servicer to find out what options are available to you.
- You might consider calling your servicer to find out what other options -- including postponed payments -- may be available to you.
If you aren’t sure who is servicing your loans, you can find your servicer by visiting the Department of Education’s website. If you have private student loans, you can look at your latest billing statement or check your credit report for more information on your servicer.”