I've been periodically checking my nelnet account and have always been in SAVE forbearance since this whole mess started. I've had a placeholder date for direct debit of payment tomorrow, 10/16 and I've been checking daily as the date got closer as I expected the placeholder date to be pushed. I open my account today and suddenly Repayment status has changed to income based Repayment. I did not submit a request to move and I'm quite annoyed. I can make the payment that is scheduled for tomorrow so not panicking but the fact that nelnet did this without any authorization is not right. If I was sitting on a ton of interest and this happened I would be subject to capitalization if I later switched to RAP which is what I was planning to do next year. I checked student aid.gov as well and these loans are still reflected as in forbearance so this looks like a rogue nelnet action. Any one else experience this?
Involuntarily Moved to Income Based Repayment From SAVE
byu/smalogna inStudentLoans
Posted by smalogna
1 Comment
Why were you in SAVE forbearance? Were you actually on SAVE or had you just submitted a request to switch?