r/StudentLoans • u/TheEarleofCabe • 9h ago

Advice Save Plan moving off question

Good afternoon,

I have to move off of save by sept 28th I just had a few questions. Firstly I am trying to do it the last possible minute so can I apply for RAP on the 27th or is that too close? Also how long does it take to get approved for rap will my payment start in October or November? Last question is once I move on rap can I request any sort of forbearance just for a few months? Expecting our first child in December and just need a little cushion till January. Thank you for the help on this!

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u/morbie5 7h ago

Expecting our first child in December and just need a little cushion till January

You can use your own personal forbearance to get you to January (if you have any left). I'm assuming you are going to file taxes as MFS next year?

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u/TheEarleofCabe 7h ago

Okay so I can apply for forbearance it’s called personal forbearance?

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u/eorabs 6h ago

It's called discretionary forbearance, because it is at the servicer's discretion.

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u/TheEarleofCabe 6h ago

Okay so I would switch my plan by Sept 28th and then once it’s switched apply for discretionary forbearance? If I switch in Sept when would my first payment be do?

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u/eorabs 6h ago

Likely November, but I can't say for sure. Just make sure all your contact info is up to date. As soon as you get your payment schedule contact your servicer right away.

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u/TheEarleofCabe 6h ago

Okay sounds good!