I read that there's no limit on how many times you can change your federal student loan repayment plan. Servicer’s can put you in processing forbearance (up to 60 days) while a plan is changed.
In theory, what's stopping someone from switching RAP → Standard → RAP over and over and staying in forbearance? Is there an actual rule or servicer policy against it, or just practical downsides like accruing interest and no forgiveness credit?
If I don’t care about interest or PSLF, and want to buy myself 6-8 months, why not just log on every other month and switch plans?
Switching between RAP and Standard to stay in processing forbearance
byu/ESVarga inStudentLoans
Posted by ESVarga
1 Comment
I think they can place you in a processing forbearance, not necessarily that they will. Maybe your application will be processed in a week and a given due date. I’m not sure then if there’s like a cool down period before you can apply for a different plan? Or a limit on how many times you can apply again?