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I have about $45k left on my loans split almost evenly between undergrad and grad school loans. Since march 2020, I've paid about 3 grand on undergrad loans, then when i heard there might be forgiveness, i started paying on my graduate loans only, figuring they wouldnt be forgiven. Im also a pell grant recipent, which i think means that im about to have almost all my undergrad loans forgiven. Is it worth calling my provider and asking for a refund on the post-March 2020 undergrad payments, then reapplying that money to my graduate loans? Or is that unnecessary, since (i think?) the 20k pell forgiveness covers grad and undergrad loans? Eason the Fifth fucked around with this message at 15:49 on Aug 25, 2022 |
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Aug 25, 2022 15:46
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| # ¿ May 21, 2024 03:16 |
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Leon Trotsky 2012 posted:If they are actually split evenly and you're about to get $20k forgiven, then it might be slightly mathematically better to get the refund and apply it to the grad loans, but honestly, it isn't going to make a huge difference. Great, thank you.
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Aug 25, 2022 16:02
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Mine came today actually. I contracted great lakes about it three weeks ago tomorrow. The loan servicer website was updated with the new amount about a week before the money showed up in my account.
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Sep 28, 2022 05:37
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Just wanted to say thanks a lot for all the actionable info in this thread, hugely appreciated 
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Sep 29, 2022 16:53
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So this new IDR. If I'm reading it right, the new approach would cover unpaid interest -- meaning that the full payment would go to the principal every time? https://studentaid.gov/debt-relief-announcement/ for ease of reference
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Sep 30, 2022 06:17
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So...how does this play out now? Can they rush it to the Supreme Court before Dec 31? I guess if not it'd make good political sense for Biden to extend the deadline again?
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Nov 11, 2022 03:33
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They're coming in batches, I think. I just got mine this morning.
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Nov 21, 2022 16:46
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It's there for me, but:Biden posted:I'm confident that our student debt relief plan is legal. But it’s on hold because Republican officials want to block it.
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Nov 23, 2022 00:13
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Trying to wrap my head around the new interest subsidization under SAVE:quote:the proposed rule would fully cover the borrower’s unpaid monthly interest, so that – unlike with current income-driven repayment plans – a borrower’s loan balance will not grow so long as they are making their required monthly payments So, before the payment pause, my required payment was $400 a month on autopay, and then I was throwing another $100 or so each paycheck to cover the accruing interest for the month so that the $400 would always go to the principal. Does this new rule mean that if I make the monthly required payment (whatever that will be under SAVE's 5% discretionary income limit; I don't know yet), interest won't accrue? That seems too generous to be right.
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Aug 3, 2023 02:04
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