Hello , please help me understand my situation. I applied to move from SAVE to IBR and I got approval by EDFINANCIAL after 2 weeks. This decision came about because I used the fafsa calculator & other student loan website calculators and I came up with a monthly that felts comfortable for me to pay. Using my 2025 income,I also submitted w2 + paystubs. Hence, I opted to be removed from forbearance and would like to start paying under new payment plan.
However, My approval letter states "For the 12-month period beginning on 11/19/28, your monthly payment amount will be $1,662.62 for the qualifying loans. " What does this mean? BUT now my edfinancial account shows I have a balance due asap on 3/19/26 of approx $1500 with one of my Direct Grad Plus loans, & the rest are 0$ (I have 5 loans, 2 Direct Grad Plus + 3 Direct loan unsub)
And in my FAFSA account. IBR application has been completed but my repayment plan still shows SAVE, Plan type: IDR & Recert: 11/20/2027
I dont understand my situation. First of, why and how did I get that amount to be due asap? and how will I see my actual monthly payment under IBR ? Please enlighten me. Much appreciated!
SAVE to IBR approved after 2 weeks, With a balance due ASAP!
byu/Confident-Winner8936 inStudentLoans
Posted by Confident-Winner8936
2 Comments
There’s an error. First.. ignore the FSA site as it’s not real time. But you shouldn’t have payment due this soon if you were just approved. I suspect they didn’t add that grad plus loan to the plan. Call edfinancial tomorrow
I would call my lender to see what happened. and what they can do to fix it.