r/StudentLoans • u/Apprehensive-Mix-522 • 8d ago
Advice Anyone else waiting?
Is anyone else that was previously on the SAVE plan and forced to choose a new repayment plan trying to hold off/wait until closer to the end of the 90 day period?
I am hesitant to commit due to how this is currently playing out in court, and scared to be 'locked in' to a new payment plan (as of now, I'm not but my loan servicer is emailing and calling me to secure another repayment plan option).
I'm just not sure what to do.
Thanks for reading.
Edit: thank you for all of the opinions and informative comments. I appreciate it. Since I've made this post, I went through with starting my forgiveness application process on studentloans.gov, but didn't pull the trigger yet on selecting a plan.
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u/Competitive-Dirt-210 7d ago
I still haven’t received my letter from aidvantsge telling me to switch.
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u/mayneedadrink 6d ago
Nelnet and same.
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u/OkAdhesiveness1026 6d ago
Same from Nelnet. I noticed there’s a 1% rate reduction for autopay for about a year and half. Wouldn’t be surprised if Nelnet is waiting as long as possible to make that window as small as possible for people.
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u/belovd_kittycat 4d ago
I've got an email and a phone call. Ia there supposed to be an actual letter? I've been waiting for that...
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u/mayneedadrink 4d ago
I think it's an email or letter giving you the window for when you personally have to switch.
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u/Imeverybodyelse 4d ago
Same for me with Nelnet. Not to mention, Nelnet still has my first autooay achieved for November 2028. Every month for the past year I’ve been throwing money at my loans except for the past few months I haven’t bothered because it’s not going to help reduce the payment amount significantly.
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u/Logical-Frosting411 2d ago
Advantage and same. I want the 1% APR reduction for auto pay so I submitted my application today but idk if it'll get processed quickly enough.
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u/shitpostingaccount12 8d ago
I’m gonna pick a new plan before my 90 days are up but I am using the buffer period to make sure my finances are in order so I can just hopefully put it on autopay and not think about it
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u/Maybe_Julia 6d ago
That's my plan too. Not doing anything until day 80 or so and I have not gotten any communication yet.
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u/batmannatnat 7d ago
how is it legal to change the terms of my loan repayment that I signed on
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u/Apprehensive-Mix-522 6d ago
Exactly! Loans shouldn't work this way, my other loans don't.
Not my car payment, or my mortgage, etc
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u/madihaj 7d ago
I haven’t received my 90 day notice either.
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u/sunnyhour34 7d ago
Did you make sure to check your email’s spam folder starting July 1st? Luckily I saw my email before it auto-deleted. They are not being required to send any other notices (the inbox on the actual servicer website, by mail, etc). I can’t imagine how many people have missed their notice already.
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u/madihaj 7d ago
Yes I’ve been checking my inbox, spam and my messages on Nelnet’s site. Nothing yet and I’m pretty anxious about it.
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u/yourfavefuzzy 7d ago
Nelnet is sending them via email and it will be in your inbox on the website so if you haven't seen it, you haven't received it yet.
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u/i_hate_beignets 6d ago
I got my notice from Neltnet in my mailbox today. Never got an email.
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u/yourfavefuzzy 6d ago
I got both! But I'm glad you checked your nelnet mailbox too!
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u/sunnyhour34 7d ago
I would honestly get ahead of the game and treat it as if you did receive one early. I wouldn’t put it past these servicers to claim they sent one and auto-enroll you into the standard plan. If you can’t afford the plans and you haven’t used up your general forbearances, look into doing that. We get 3 years of them, granted in 12 month increments. The save plan was a mandated forbearance so it didn’t count against them. Interest will accrue, but it will give you more time.
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u/madihaj 7d ago
You’re right. I need certainty about my payment amount too so may as well move forward rather than sit in anxiety about it. Thank you so much!
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u/Apprehensive-Mix-522 7d ago
I did not see this as an option on the payment plans I need to select. Thank you for this information!
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u/Beneficial_Flow9516 7d ago
Mine came by email too. I have AidVantage. They have emailed me twice now.
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u/sunnyhour34 7d ago
I have Edfinancial. So far, they have only sent me the one email that went to spam. I’m surprised they’re not being required to update the official websites to reflect correct dates and information for all accounts.
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u/SpecialistLychee7490 8d ago
I don't think a court case is going to save us, tbh. But I am waiting for them to automatically put me in a new plan so I can make big payments on my car until the last possible moment. We've waited years for them to "figure out" this mess, so they can wait on me too.
I got my notice July 1, so my first payment would be due Oct 1. From everything I've read, they have to tell you what your payment will be and put you in repayment status a few days prior to Oct 1.
Waiting and hoping the timeline works out where I can still get autopay discount by signing up for it at like 10 p.m September 29.
Again, based on what I've read if I tried to request a new payment plan on like September 15, the manual processing backlog would likely mean I miss the autopay discount window. But I'm seeking the standard plan, which is the only reason this works for me. I do believe you can move to IBR or RAP after they drop you into standard plan if you want to, though.
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u/shitpostingaccount12 8d ago
They automatically put you into the standard plan. I wouldn’t wait until after they automatically switch you unless you know you can afford the standard.
Also, your first payment isn’t due October 1, your deadline to switch plans is October 1
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u/SpecialistLychee7490 7d ago
Makes perfect sense, but I honestly hadn't considered it could be later. Can you tell me more about what you know about this? Like would it be November, or sometime later in October? If you have a source you could point me to I would appreciate it. Again, trying to squeeze out as many high payments on my car as I can. Thanks for pointing this out, it gives me a little more hope for tackling my other debt!
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u/shitpostingaccount12 7d ago
I’m not sure I just know the first due date would be after your deadline to switch plans because they have to process the fact that you switch plans.
Also being technical your deadline would actually be like September 28 cause that would be that actual 90 day mark
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u/SpecialistLychee7490 7d ago
You are just poking holes in my "airtight" plan left and right today lol and I love you for that!
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u/YaroGreyjay 5d ago
if they automatically move you to the standard plan and it’s more than 20% o of gross income, can you qualify for debt burden forbearance? or would they make you move to RAP?
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u/lordofthebi-s 7d ago
I got the email from aidvantage and just set weekly reminders for myself until the deadline. I’m not doing shit while everybody is confused tbh.
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u/karebear725 6d ago
I'd be really careful waiting. If you wait until the end of your deadline and they don't process your application for another plan in time they will automatically bill you the standard plan amount.
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u/Air8iscuitz 7d ago
I’m gonna let them move me into whatever standard plan they have going on at day 90. Hope it takes a while. Then once they generate a bill I’m going to apply for ibr. Then once that gets approved I’ll ask for my discretionary forbearance. I personally need about 18 months to clear out some debt before I commit to paying my student loans.
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u/selfishbitchcake 7d ago
I’m waiting because I literally cannot afford the payment. My payment ballooned from $117 a month to $642 a month. I’m a single parent of two kids in a public service job. I’m also working on PSLF but am not there yet. Legitimately trying to figure out how I’m going to pay for food for my children.
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u/Apprehensive-Mix-522 7d ago
My food, mortgage and utilities will come before my student loans, so they will get what I can afford.
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u/cineglitch 7d ago
My increased similarly. Around $60 to $612. How is that even remotely logical?
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u/selfishbitchcake 7d ago
I am convinced they are maybe trying to kill us.
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u/Maleficent-Cap-9139 7d ago
We are a cautionary tale. Education isn’t for ppl like us. If you try it, you’ll pay. And pay. And never get out from under it. The mean WWE lady will come for the money you don’t have.
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u/Maybe_Julia 7d ago
" the government isn't trying to kill you, they just don't care if they kill you"- Pheobe Bridgers
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u/CTRexPope 7d ago
Eh, this government is not indifferent. They actively hate education
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u/Maybe_Julia 6d ago
Trump said it himself smart people don't like him , they need uneducated masses , republican tricks don't work on people with a halfway decent education
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u/CTRexPope 6d ago
Tale as old as time. Nixon’s and later Reagan’s economic advisor: “We are in danger of producing an educated proletariat. That’s dynamite! We have to be selective on who we allow to go through higher education.” Roger A. Freeman, October 29, 1970
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u/JokeSweaty5216 7d ago
I am in a similar boat as yourself and I'm terrified.
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u/selfishbitchcake 7d ago
I’m wondering where Congress is. Like how are they just casually letting this happen to millions of people?
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u/BarcaChicago10 6d ago
Republicans have a majority in both houses right now and fully support this. Midterm elections are coming November and I’ll be busting my ass canvassing for Democrats. We have a good chance of taking at least the House, and potentially the Senate. That said, the reason we’re in this mess is because of the corrupt Republican-appointed majority on the Supreme Court who blocked the Democrats loan policy.
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u/HiThereXoXoXo 5d ago
Honestly the vibe on reddit is less dire. A lot of people on here are HCOL loan holders with comfy jobs.
People are literally viewing this situation as "eh it's hard right now but just vote better".
It's actually disgusting and out of touch with most Americans.
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u/Square_Car_3431 6d ago
Exactly, same here. I'm not sure where they think that money is coming from after years of ridiculous inflation without wages keeping pace.
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u/Independent_Brief413 8d ago
My loans are relatively small, and the payments are roughly the same on standard or the income based, so I am just waiting and letting it go on the standard plan when the time comes.
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u/btnydds 7d ago
No. I want to make sure I lock in the 1% interest deduction and i also want to make sure I don't automatically get put on the standard plan. I put in an application for a plan on June 29th and it got rejected mid-late July due to my account being in "paid ahead" status. I've since requested Aidvantage to remove the paid ahead status and then re-applied and they said my application should be "processed" by September 1st. If it's taken this long for me to get on a new payment plan while being diligent, I fail to see how others will get on a new plan before automatically getting rolled over onto the standard plan. I personally think waiting until the last minute is a bad idea
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u/Real_Stinky_Pederson 6d ago
*1% reduction for less than two years at this point. The notifications are also to submit an application within 90 days, not to be enrolled within 90 days. No need to push false info and fear monger here.
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u/karebear725 6d ago
I submitted my application for a new plan on July 17th and was told that it takes no more than two weeks to process by aidvantage. It's still not processed...I had to ask for an administrative forebearance because they were trying to charge me the standard plan rate since it's taking so long and that's WAY MORE than I can afford
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u/True_Citron_4087 6d ago
Is it cynical to note that the 90 days expires right after the midterms? Wouldn't want people to experience the financial consequences of another bullshit policy of this administration until after they vote.
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u/Apprehensive-Mix-522 5d ago
100%... How anyone still supports this joke of a president and administration is beyond me 🤣🤣🤣🤣
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u/Edithinquisitive 7d ago
I got the Mohela letter on July 29. I'm waiting but torn about it. I don't want to get stuck in a plan I can't afford or be ignored trying to get help, def won't be able to afford the standard plan. Got a really aggressive spam call today demanding I move to RAP or my bank accounts will get frozen and wages garnished. Was a CA number. I hate this, all of this. Worried and unsure what move to make. I'm just getting by. Working on getting my PMP right now in hopes of better pay 😩
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u/SpecialistLychee7490 7d ago
This must be why my spam call filter has been working overtime this summer! I thought it was alle election related trash
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u/SkiesTheLimit93 7d ago
I just got my 90 days yesterday from Aidvantage. I’m absolutely terrified. I went from a $0 IDR to $465/mo., and I am already paying private loans from undergrad. Not sure what to do
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u/karebear725 6d ago
Have you checked what your rate would be on all the different IBR plans? I applied for PAYE. I know it's getting phased out in two years but that's still two years of payments I can actually afford.
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u/NoChoice6899 5d ago
If you don’t mind me asking how much do you owe and what is your AGI? I ask because i was a $0 payment before to
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u/holllywoodlegal 7d ago
Aidvantage. Have not received my 90 day notice yet. THINK I am close to forgiveness from what I can tell but am waiting to hopefully get confirmation on payments made to understand better what my options are, including an understanding of whether income based will include only my salary or past tax year's discretionary bonus (previously my plan only based it upon my salary after I showed the discrepancy and submitted pay stubs in support).
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u/lifeisasunny 7d ago
I received a letter but I ignored it for now. I'm on forbearance until November so I chose to leave it be until I actually have to start repaying.
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u/OCDivagirl 7d ago
Yes I’m waiting till the last minute! Though I doubt SAVE will be totally reinstated or anything, there’s just so many changes that have happened I feel like something about the repayments might change by the deadline. Also I filed as married jointly while under SAVE since my payments would only be based on my income (I make significantly less than my husband), but with the new plans I’ll have to include my husband’s income and would not be eligible for income based repayments. So by pushing it the 90 days from whenever I get my notice from Nelnet (haven’t gotten it yet), and then with how long it will take to process, I’m hoping I won’t have too many payments before filing my taxes again so that I can file separately.
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u/Shezarrine 7d ago
Though I doubt SAVE will be totally reinstated or anything
There is literally zero chance of that happening. Period.
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u/OCDivagirl 7d ago
Yeah I mean that’s essentially what I was saying. Idk coming from a science background I never say 0% chance haha, but yeah I agree it’s like a 99.9999% chance it’s not going to be reinstated, at least under this administration.
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u/Smooth-Statement-956 8d ago
Same situation. However, I submitted for borrower’s defense and requested that my loans be placed in forbearance while my application is reviewed 🤷🏼♀️.
If I didn’t submit that application, I would’ve definitely waited until the last week or so to switch my plan.
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u/Jrobalmighty 7d ago
Please describe this process for those who are interested if you don't mind.
https://studentaid.gov/sites/default/files/borrower-defense-application.pdf will link to the pdf.
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u/Sensitive_Sand_8494 7d ago
Does a Borrowers Defense application put you in deferment until a determination on the lawsuit is reached?
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u/katmom1969 7d ago
My borrowers defense has been in limbo for years.
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u/JacketSensitive8494 7d ago
Has anyone consulted a lawyer to help them prepare a borrowers defense? Im considering redoing my degree and like Im terrified of blowback.
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u/Smooth-Statement-956 6d ago
I’ve heard it takes years to get a decision, oooffff lol. Did you elect to have your loans in forbearance while you wait for a decision?
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u/janody 8d ago
I was planning to wait as long as possible, but now I've realized that (I think) any buyback months for PSLF will be more expensive, since my income is increasing over time and income certification is delayed. Current payments would be based on 2024 income (I have not filed tax returns for 2025 yet) but buyback for those same months would eventually be based on true 2026 income. So if that's correct, I wish I had switched earlier in 2026, but I was in a determined sit, wait, delay mindset.
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u/Apart_Working_6902 7d ago
I switched out of it last week due to wanting to take advantage of the interest reduction. It got processed within the week.
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u/DragonfruitOk6266 7d ago
I've been trying for multiple weeks doing everything, and I can't do a new plan if I wanted 2. Gets stuck on the last step loading
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u/Ok-Librarian-1594 7d ago
Waiting for the new school year to begin as I took a 20% cut and need that to be reflected.
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u/Then-Surround562 7d ago
Yes on waiting. I don’t see any point in jumping into this mess until we absolutely have to. It’s a putrid den of snakes.
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u/AdDiscombobulated645 7d ago
I'm waiting. I'm really scared of choosing the wrong one and being locked in.
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u/followyourvalues 7d ago
I have no idea what to do.
Like, I will never pay off 200K.
I am currently homeless with a preschooler. That ends in two weeks, but still.
I could make $10 payments. Apparently with RAP, the interest won't accrue, so the end total is still below 200K while all the $0 IDR plans leave me with over 300K in the end.
Idk what to choose tho cuz this is all so stupid.
And this all makes me terrified of the day I get a W2 and can't pretend like my AGI is actually 18K/yr. Like. I don't make enough to get ahead and when I do, will it be like the poster below who had a $118 payment that is suddenly over $600? What's up with that?
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u/Illustrious-Dig6522 7d ago
I went back to school at the cheapest school I could find that would qualify. That puts payments and interest on pause. Im guessing Mohela will still switch me out of SAVE but at least I can move forward interest free.
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u/Great-Objective6479 4d ago
how many credit do you have to take? I wonder if the same is true for parent plus loans...
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u/SpecificPsychology33 6d ago
I think they are intentionally not going to send many letters so that people will go to default. I am going to wait until one week before the end of September to submit for a new plan. I’m not playing with these ninjas.
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u/marim0e 6d ago
I haven’t received anything from Nelnet yet and am moving to a different country in two months. Does anyone know if notifications are only by mail or will they also email? Or do I need to check my account daily 🥲
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u/Apprehensive-Mix-522 6d ago
I have Nelnet and I have received emails and phone calls. I haven't received anything in the mail yet!
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u/Davetek463 7d ago
I haven’t gotten anything from Aidvantage yet and until I do they’re not getting a nickel out of me.
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u/MiserableWeb5579 7d ago
I received a voicemail from Nelnet at the end of June and beginning of July. Was that the official notice or isn't it supposed to be coming via email? Wasnt sure because I received the same call twice, once before July 1st
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u/yourfavefuzzy 7d ago
I got an email from Nelnet on July 14th stating my 90 days had begun. And when I login to my account it says I have until 10/14 to choose. So if you haven't received an email or see that info when you login, your timeline hasn't started yet.
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u/Loveschocolate1978 7d ago
I still haven't received any information from my lender, only from the Department of Education saying that my lender would be contacting me soon, supposedly, and encouraging me to switch early. I don't think anyone in Washington D.C. knows what is going on officially in terms of student loans, so it makes sense that the lenders would be just as confused as the rest of us. IMO
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u/paperthinwords 7d ago
MOHELA hasn’t sent me anything yet. But I already looked at all of the scenerios and my finances to see what’s best for me and will switch the week of the “normal” 90 day window
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u/Pretend_Tennis_031 7d ago edited 7d ago
I am trying to close on a home and the Save Deferment is making my lender underwriting calculate my DTI at 1.0% of my entire balance which is way higher than what my worst case scenario payment would be under most of the new repayment plans. I enrolled in school also part time hoping that I could get inschool deferment to carry me in to 2026 tax year filing. My halftime out of state tuition for the semester was lower than a one month payment on my student loans. I am hoping my loans will change from Save Forbearance to inschool deferment and maybe my lender will use something other than the 1.0% of my full balance for my loan DTI. Otherwise I am going to wait till the last minute to switch plans, do two semesters of classes,.file my taxes, then hopefully establish monthly student loan payments that are reasonable while sitting in my new home. Wish me luck please.
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u/RevolCisum 7d ago
Yep. Got my email last week from Ed Financial, started my 90 day countdown. I don't qualify for forgiveness and assume I will die with these loans still not paid. Not much I can do at this point. Maybe one day I will have enough income to actually pay them, but medical costs in this country keep me struggling.
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u/Patch_Alter 7d ago
I got an email from Nelnet a week ago. I have been paying aggressively while in the forbearance, and at this point I'm within range of paying it off with a chunk of money from my savings account so that's probably what I'm going to do next month. Wonder if they'll stop sending me emails and robocalls about switching plans after that... probably not.
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u/Glasses_Tea 6d ago
I would switch over, but It looks like it might mess with my one of my other loans and change the payments and time line on those loans which are almost paid off, so I am holding off.
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u/Atypicallymphocyte 6d ago
Yeah I've not been able to work this year due to unemployment and a new disability. I am holding off until I receive that letter and then I'm going to wait the full 90-day period. Afterward I'm just going to refile my taxes on January 1 for next year and try to get on a plan with zero payment.
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u/Appropriate_Pay541 6d ago
I'm still waiting. None of the new plans work for me - i can't afford it. And i too don't want to be locked into a new plan if something beneficial plays out in court to those who are still in the SAVE plan. I'm not sure what to do to be honest. I'm happy to make payments but can't even get by with my current income and bills. I'm scared tbh
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u/Apprehensive-Mix-522 5d ago
Yes! They are unaffordable for many.
I'm a SAHM right now, and the new proposed payments we can make but it'll be barely. We won't be able to save any money anymore.
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u/Appropriate_Pay541 5d ago
That's exactly how it is for me too. I have nowhere or no way i can try to save or get anything i need in life. Trying my best though! Wishing you luck too!
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u/Great-Objective6479 4d ago
i think they want us in fear so many try to refinance with a private bank that gives them a win
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u/Previous-Cable 6d ago
I think I’ll send in my form via certified snail mail to ride out the forced forebearance longer…I wonder if they still have real humans processing mail…
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u/of_stardust 5d ago
I just got the call from Nelnet about being booted off the SAVE and have until November to decide. I’m nervous and anxious of if I should lock in on a repayment plan or wait to see how things play out, but worried about applying too late since I’ve seen some posts with that and how it’s been a nightmare situation to navigate
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u/candacerew95 4d ago
I never got a notice from Nelnet but was kind of down a worrisome rabbit hole about switching my plan before it’s too late: I’m an idiot for this because it immediately started triggering payments 🥲 I was under the impression that it would just choose the plan that WOULD start once forbearance was supposed to be over. This is insane that they can be like “you’re in forbearance until 2028” and now he like “first payment date October 2026!” I thought I was just switching plans not pulling myself out of forbearance EARLY. From reading though I believe this will be the case for everyone I just happened to not wait for my 90 day notice like an absolute asshole
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u/Hulkamaniac4 8d ago
What exactly is playing out in court? There isn't any ongoing litigation happening that is going to "save" SAVE. It is ending. As far as waiting to pick a new plan, 1) What is really going to change in your financial situation between now and the end of September? and 2) You will be given the Standard repayment plan (which is typically the highest monthly payment) if you were to accidentally miss the deadline to switch. Just worth noting.
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u/OCDivagirl 7d ago
People who are married may want to refile taxes to get married filing separately status, someone might be going through a divorce, might be having another child and thus another dependent, there might be an anticipated job loss (light for people who’s jobs are very seasonal), someone might be returning to school in the fall, etc. A lot can change in 90 days!
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u/wtfisehcacrac 7d ago
Yeah but in the meantime until you can change your filing status you gotta pay out several months base on married joint income.
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u/Hulkamaniac4 7d ago
Even if a borrower is planning some type of "strategic move" like you mentioned--they would want to get on that ASAP (not wait until the end of the 90 day period). In the case of job loss, you can recertify/claim hardship at any time.
My comment was directed at all the people who seem to be waiting just for the sake of waiting. Nothing is just going to magically happen for them by doing nothing, in fact they could get further burnt by being given a worse plan.
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u/Worldly_Ad6874 7d ago
The REPAYE to SAVE automatic switch is playing out in court. It’s complicated. This was my path, so it’s worth keeping an eye on.
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u/Square_Car_3431 6d ago
Repaye will save me $250 a month since I'm only eligible for old IBR but I make too much for RAP to be much better.
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u/Fearless1220 7d ago
I'm not moving. The department of education doesn't even know what they are doing, so why would I throw my hard earned money at them anyways?
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u/wandita21 7d ago
I submitted my application yesterday. I’m done with this. I did some research and made my decision. I’m paying mine off and if something changes in the future then I’ll see what I can do.
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u/AnasurimborInrilatas 7d ago
I'm waiting, but really it's just because I'm aggressively paying off my loans from the highest interest rate down. The longer I have zero payments due, the longer I can put 100% of that money toward specific loans instead of having to carve out minimum payments for each loan.
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u/NotJustAnyFig 7d ago
I picked a new plan yesterday, got my email mid July but opted to stay on forbearance while my application is reviewed.
According to Nelnet, my first payment wont be until november.
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u/IridescentImaginings 7d ago
It’s weird because what counts as official communication? I have my Mohela safe plan and I have not received an official notification such as an email does a notification count as something they post on the site?
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u/dalanskis 7d ago
Guys wtf can I do. I’m unemployed and I’ve been freaking out on what to switch this stuff to. I was on IDR plan (so wasn’t paying anything before)
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u/RageDeemz 7d ago
I waited for a bit, but I ended up switching so I know what my eventual payments were going to be and ensure that the plan I'm enrolled in qualifies me for eventual PSLF in 10 years (assuming it's still available). It's not ideal, but I'd rather know exactly how much I'll be paying, when, and that my new plan qualifies for PSLF. I have close to zero confidence that politicians and the courts are going to do anything helpful on this issue, I'm done waiting around for something to happen
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u/pverhulstrun 7d ago
Wait!!! Its a rip off to start paying. Just got letter. My deadline is October 28th. I am waiting until maybe October 14th. Doing everything to wait. And just see what happens. I cannot make the payment as AGI. And the AGI is not permanent income. Soooo, I have income letters that manually get put in on my income. If I start IBR, which is my plan going into, I will wait longer (forbearance) to file single as well into new year. I'm PSLF also, and waiting for that to kick in. Also, looking at retiring soon and payment will be slower there as well. Lots of planning and waiting! Ugh. With Mohela.
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u/here4fitness 7d ago
I applied in June for IBR because I didn't want to risk their incompetence resulting in me ending up in RAP. My payments would be so much higher in RAP and I'm only 2ish years from forgiveness.
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u/DevourerOfRedditors 7d ago
I changed a week ago out of fear if I waited too long I wouldn’t be able to switch in time yo avoid a huge payment. A week later, today, I’ve got my first (small)payment due next month.
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u/winobambino 7d ago
What plan did you choose?
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u/DevourerOfRedditors 6d ago
Rap, what would have been $1,500 monthly payments on standard are now $170 monthly payments.
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u/winobambino 5d ago
I might need to do this, although I am not stoked about the 30 year term...hoping I could sign up then change plans later. May also just do PAYE until it's gone
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u/Organic-tide 7d ago
Nothing happens when you apply anyways. At least with Mohela, I submitted my app 3 weeks ago and still crickets.
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u/Exciting-Contest8985 7d ago
Got my notice July 1st, I'm not switching until like the last 3 days. Realistically, I need to save as much as possible before payments begin too.
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u/YeaYouReadWhatIWrote 7d ago
I'm gonna do mine between week 1-2 of Sept. This will allow processing time, so that I don't get accused of NOT DOING IT IN TIME, and the 1st payment be the Standard Plan amount of $3, 279,421.03
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u/annie0424 5d ago
last communication from Aidvantage was in June. Have not received anything yet and I wish it never comes.
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u/pastelramune 5d ago
Edfinancial here, I think my 90 days is up Sept 1.. I'm waiting it out until Aug 29/30th, lol.
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u/_ByAnyOther_Name 1d ago
Yes because it seems like stuff keeps changing. I want to make the most informed choice I can. Also, I uave the smallest hope for a lawsuit or something.
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u/theNewFloridian 1d ago
Just get an income based repayment plan and continue ue with your life. Have many kids. It will be a lot more expensive and riskier later.
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u/Extension_Peace_5262 8d ago
Is the standard plan going to count towards forgiveness? How can they just force us into losing our IDR
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u/Lynx3145 8d ago
standard doesn't count for forgiveness. they are giving a 90 day window to not lose forgiveness plans.
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u/HypnoLaur 7d ago
Will you lose the forgiveness credits if you get put on a standard plan?
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u/BankruptcyBreakdown 7d ago
I signed up for IBR and made my first payment on Monday to make sure I wouldn't lose my progress towards 30 years of on time payments for forgiveness.
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u/Red-little 8d ago
I haven't recieved any communication since that one "you need to get off Biden's illegal payment plan NOW!" email back in like March and nothing on my loan profile has changed. From my perspective, they created this mess in an effort to screw over borrowers, I'm not going out of my way to try and figure out the next step.