Hi all
Im quite nervous about this..i was due to recertify my pay as you earn loan on 4/24/26 & i accidentally missed the deadline and did not recertify til 4/26/26
Nelnet sent me an email yesterday stating the below…
| Your student loans are in a forbearance as of 04/26/26. We recently received your income-driven repayment (IDR) application, but since a federal court issued an injunction preventing the Department of Education (ED) from operating the Saving on a Valuable Education (SAVE) Plan and other IDR plans, IDR application processing is taking longer than normal. Due to these delays your IDR application is in a pending status and Nelnet is putting your account into a forbearance for up to 60 days. You can find more information at studentaid.gov/saveaction. What does this mean for me? While you are in this forbearance no payment is required on your account, but interest will accrue on your outstanding principal balance. You will receive credit toward IDR forgiveness and Public Service Loan Forgiveness (PSLF) for the time covered by this forbearance. If you made or make a payment during the time you are in the forbearance, the amounts paid will go toward satisfying any outstanding interest first and then your existing principal balance. The forbearance period will be up to 60 days from the date your IDR application was received. If you do not want to be in this forbearance, please contact us at 888-486-4722. When you call us, we will discuss the repayment plan options available to you if you no longer want to be in this forbearance. |
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I have no idea what is happening and i have a feeling they may kick me out of my Pay as You Earn plan because it is not offered anymore.
Am i screwed? Will they throw me into another plan with higher payments? Should i continue to make monthly payments anyway?
Put on forbearance??
byu/NumerousSurround6579 inStudentLoans
Posted by NumerousSurround6579