I’m sure this is a very basic question, but it sets my mind at ease to ask.
I have 4 loans
-$7627.78 @ 3.76%
-$4137.80 @ 4.29%
-$2160.56 @ 4.29%
-$6291.56 @ 4.66%
I graduated and made some payments, but the Covid forbearance kicked in and I didn’t make payments for a while. Covid forbearance ended, I made payments for a few months and got on SAVE. With save gone, I want to estimate my monthly payment if I were in the standard plan.
The question is then, does my time in Covid and SAVE forbearance count as time in repayment? By my math, I should have about 7 years left to pay my loans if COVID and SAVE stop the clock but if I go on the standard plan and I have to stick to my original repayment plan, I’m in trouble. If the standard plan ends up being the way to go, I can afford the ~280 a month, but if I owe all my remaining balance in the much shorter time, that’s probably not going to work.
I understand I’m pretty late in the game to be asking this, but I have to figure it out sometime and I’d rather it not be when the first payment is due.
Thanks in advance.
Does time in forbearance “stop the clock” on my repayment timer?
byu/AurumVox inStudentLoans
Posted by AurumVox