Ok I'm completely lost when it comes to looking at my loans. I've googled and searched but I just don't understand forebearance/deferrment and what it all means.
I graduated my master's program in 2020. I had the natural 6 month grace period but then, with Covid, loans were put on a deferrment (I think… I can't remember exactly) and no payments were due. A few years ago, they went back to having an actual payment. I think I made 3 total payments before my loans were put in forebearance again and I didn't elect to put them there.
I was on the SAVE plan, which is now going away. I don't qualify for the PAYE plan at this point since I got married and income levels have changed. My dashboard still says my loans are in forebearance until November 2028 and there's a $0 payment. Should I be paying on this? I don't know if I should elect for a different plan and start paying now or what to do going forward… I'm just entirely confused.
Graduated in 2020 and have been in some form of forebearance ever since…
byu/QuothTheRaven96 inStudentLoans
Posted by QuothTheRaven96
1 Comment
Nov 2028 is a placeholder. You’ll be forced off SAVE later this year. If you don’t apply and choose which plan, they’ll put you on the standard plan. Interest has been accruing for at least 6 months now.
Do you expect to qualify for PSLF or just to pay off these loans aggressively?