I have 17K in student loans left to pay from 20K and recently Nelnet sent me a letter saying I was rejected from applying to SAVE because I either applied for the lowest payment available, applied for more than 1 IDR (which isn't true for my case), or I didn't request for a plan (whatever that means). Yet, I'm still on SAVE Forbearance despite it all with payments due in November and I've yet known if any of my loans were on SAVE to begin with. Is there anything I should do now since I've been notified that I can't apply for SAVE yet still on the SAVE Forbearance?
Got Rejected for SAVE but still on SAVE Forbearance. What Should I Do?
byu/GanstaKingofSA inStudentLoans
Posted by GanstaKingofSA
3 Comments
They don’t know yet how to calculate (or that’s their excuse).
If you want to be in repayment apply for IBR, ICR or PAYE specifically.
(Almost) everyone is still on SAVE forbearance-whether they want to be or not. If you want off, you’re going to have to reapply, which they say is easiest if done electronically. If your information or options offered on the electronic plan aren’t right, you’ll have to submit a paper form.
If you’ve been making payments such that your payment date is advanced, call your servicer and tell them to remove your paid ahead status; it can delay your application.
If you search the net for a “wet signature” IBR form and choose another plan, you can make a priper choice for the plan you want. The SAVE Plan is dead, so I don’t think they’re letting anyone else sign up for it, so don’t choose that.
Fill out your paper form, sign it and upload it to the Dept of Ed.
Good luck.