I think I am in the Bad Place and EdFinancial is torturing me. To make a long story short, I am doing a post-bacc certificate that is eligible for in-school deferment, but EdFin won't approve my request unless I check the box "[I request] If checked, to make interest payments on my loans during my deferment." Directly below this box, it says "I understand that: • I am not required to make payments of loan principal or interest during my deferment." I have gotten my deferment approved before without checking this box, and this is I think the 5th time I've submitted it this semester and each time they've given me a different reason for why it's not approved. I talked with someone over the chat today who said this is the ONLY issue and that I MUST check the box. Will this not affect what payments I will have due? I'm on SAVE and have yet to make a single payment. I feel like this is a trick to get me off of SAVE.
Some other notes:
– I have updated my in-school status on the FSA website, but my school does not provide expected completion dates, so EdFin requires an enrollment verification form for proof.
– They have also randomly added hundreds to my balance with no explanation and have not responded to me about the issue, they just say it's still being processed. The first time I contacted them they said it didn't happen at all, but when I told them I could see the change in my credit report, they started an investigation.
– I have had my in-school deferment approved twice before without this box, although one of the times they did backtrack and say I was only eligible for a week of the semester, then fixed it again (and shockingly, admitted fault) near the end of the semester. My enrollment status did not change at all during this time, and they never fixed the interest that accrued during the period where they randomly yanked me off of it.
– For these reasons, I am reluctant to trust the chat person who told me it won't affect my SAVE plan or payments. She also said that all of my previous deferments should not have been approved.
Required to make interest payments on my loans during deferment?
byu/ieatteletubbies inStudentLoans
Posted by ieatteletubbies