So Navient put my student loan in deferrment for 18 years (I have no idea how or why – I did ask for a couple deferments but did not think they could do this for 18 years?!?) – I graduated college in 2007. Now Mohela has been blowing up my phone and they just told me to consolidate to the department of education. I am 57 years old and the loans are 100k they want 100k in interest and at over $600 per month I can have it paid by the time I am 86. I own nothing and have nothing to my name but my biweekly paycheck – I do have a substantial income currently but it fluctuates with commissions. What would you do?!
Deferred Student Loan – 18 years
byu/Negative-Sun4592 inStudentLoans
Posted by Negative-Sun4592
3 Comments
Start paying the mins
What did you think was going to happen? Like all bills, eventually they come due and you have to pay them. You don’t have much of a choice.
This shouldn’t have happened since deferments are supposed to be capped at 36 months, but anything is possible. If that is the case, then your loans have been increasing due to interest and could easily have doubled.
If you graduated in 2007 you likely have FFELP loans. This means you likely didn’t get the one-time adjustment and have no credit toward forgiveness assuming you actually were on deferment for 18 years.
What is the actual loan balance and what is your income?