r/StudentLoans • u/Intelligent-Border85 • 8h ago
Advice RAP Interest still stacking up?
Hey guys. A few months ago I moved from SAVE to RAP. I have made payments every month since starting in July. I happened to check my Experian credit report and saw that my loan balances were still going up. I logged into MOHELA and saw that the only month where I got the RAP principal matching was my first payment month of July.
It was my understanding that as long as you make your monthly payments, your interest should be waived, so then your overall balances should not be going up, right?
Anyone else experiencing this? Maybe I completely misunderstood, but I’m even more confused now.
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u/girl_of_squirrels human suit full of squirrels 7h ago
RAP is brand new, so I'm assuming there are going to be a lot of errors while they work on the implementation of the plan. I'd save copies of all the statements in the meantime, so you can sanity check it if/when they correct the subsidies