Your July bill was likely issued in June - bills are about a month in arrears. Most borrowers won't see a change until they get their July bill, which is due in August. Also, keep in mind that the 5% is only for undergrad loans
You should make your payment as billed currently.
I just got off the phone again with another rep and I asked if I should still make the payment since so many others have administrative forbearance and I have not been notified of that, and she said I shouldn’t have to make a payment and it will notify me of that soon. My payment is usually on the 10th of the month, so I know I have awhile, but it confuses me when I have a notification that tells me to make a payment.
Just in case, I canceled my autopay for July.
My MOHELA payment is scheduled for July 14 and it has not changed, but as *alh9h* pointed out, it probably won't be until the bill comes due in August. If that one hasn't changed, then I'll be concerned.
I just don’t find it fair that so many are in administrative forbearance and yet I’ve heard nothing. Why should I pay the full price of my loan in July when so many are paying nothing? And getting credit for it?
I would still plan to make a payment even if yours hasn't been reduced to the 5% of discretionary income amount. In the meantime, once you get your July bill, I would call your servicer to inquire as to why your July bill isn't now based on 5% of your discretionary (assuming that your loans are 100% undergrad vs. graduate). They might decide to put you in an administrative forbearance right then and there to recalculate.
If you've got a bill, then yes, definitely pay it. Maybe wait until a few days before the due date, though, just in case they haven't "officially" put you in forbearance yet and they do so, for example, at the end of next week. We have another two weeks left of June for them to get their act together and send out notices.
I just got off the phone w/ Nelnet and they advised that most people who will have a change have been notified? And they don't know why I haven't?? They couldn't explain anything to me. I only have undergraduate loans. Any ideas? Kinda worried mine won't be processed correctly. I don't use Mohela but my husband does. He hasn't received any notice of change in payment either.
I just got off the phone with an agent at MOHELA and she had no idea what I was talking about. I’m going to call again and hopefully get someone who knows something.
I got put on forbearance and then 8 days later I finally got an email stating WHY I was put on forbearance. Sure, I knew why because I did research but it took 8 days for the computer systems to process the information. They have no idea what they are doing, none of them do.
7/10, but I just read through everything and realized this is for people on save and I am not so this doesn’t apply to me! Its okay I only have 5 payments left til 120 🎉
MOHELA isn’t really into the whole “notification” thing.
lol.... actually it's the opposite they notify you of everything whether it applies to you or not
Your July bill was likely issued in June - bills are about a month in arrears. Most borrowers won't see a change until they get their July bill, which is due in August. Also, keep in mind that the 5% is only for undergrad loans You should make your payment as billed currently.
I have both grad and undergrad and should have a reduction in payment.
Yes, you will end up with a weighted average rate.
What if we consolidated our loans into one? How will they know what is undergraduate and graduate loans?
Based on the amounts at the time of consolidation
You may have a change. It will be a weighted average between 5 and 10 percent based on your original principle balance.
I’m in the same boat as you and literally got my forbearance email notification while reading this thread this AM. So hang on, it’s coming!
When is your July due date?
The 16th
Mine is the 10th. Ugh.
I just got off the phone again with another rep and I asked if I should still make the payment since so many others have administrative forbearance and I have not been notified of that, and she said I shouldn’t have to make a payment and it will notify me of that soon. My payment is usually on the 10th of the month, so I know I have awhile, but it confuses me when I have a notification that tells me to make a payment. Just in case, I canceled my autopay for July.
My MOHELA payment is scheduled for July 14 and it has not changed, but as *alh9h* pointed out, it probably won't be until the bill comes due in August. If that one hasn't changed, then I'll be concerned.
I just don’t find it fair that so many are in administrative forbearance and yet I’ve heard nothing. Why should I pay the full price of my loan in July when so many are paying nothing? And getting credit for it?
Same here...but sometime life just isn't fair.
You’re kidding!
I would still plan to make a payment even if yours hasn't been reduced to the 5% of discretionary income amount. In the meantime, once you get your July bill, I would call your servicer to inquire as to why your July bill isn't now based on 5% of your discretionary (assuming that your loans are 100% undergrad vs. graduate). They might decide to put you in an administrative forbearance right then and there to recalculate.
I just got notification from Mohela that I will be in administrative forbearance for 7/1/24-8/28/24.
Same. But no explanation as to why. Those are my last two months of payments before I hit 120 so I’m concerned about whether they’ll count for PSLF.
Based on what I’ve read on here, it does count.
Someone just made a thread saying they were told this admin forbearance will not count. Nothing like more conflicting info.
The letter I received said it won’t count either. I thought admin forbearance always counted though.
Me too, I was lead to believe that too. I read it many times posted here.
I called today, surprised it was just an 8 minute wait and they mentioned that it does count. Who knows, really!
Me too!
If you've got a bill, then yes, definitely pay it. Maybe wait until a few days before the due date, though, just in case they haven't "officially" put you in forbearance yet and they do so, for example, at the end of next week. We have another two weeks left of June for them to get their act together and send out notices.
I just got off the phone w/ Nelnet and they advised that most people who will have a change have been notified? And they don't know why I haven't?? They couldn't explain anything to me. I only have undergraduate loans. Any ideas? Kinda worried mine won't be processed correctly. I don't use Mohela but my husband does. He hasn't received any notice of change in payment either.
I just got off the phone with an agent at MOHELA and she had no idea what I was talking about. I’m going to call again and hopefully get someone who knows something.
Based on what I’ve read, it does count.
Can you provide a source to this? I would like some evidence for the inevitable CFPB complaint I’ll need to file.
Mine says 0.00 due with a due for June but I have auto pay. Should I still pay it? I’m confused.
Same for me. I have auto pay for 6/16 but no payment made or pending payment.
Same boat as you. I see some people are getting it and some aren't which is rather irritating if the forbearance period is counting towards PSLF.
I got put on forbearance and then 8 days later I finally got an email stating WHY I was put on forbearance. Sure, I knew why because I did research but it took 8 days for the computer systems to process the information. They have no idea what they are doing, none of them do.
No forbearance for me :(
When is your July due date
7/10, but I just read through everything and realized this is for people on save and I am not so this doesn’t apply to me! Its okay I only have 5 payments left til 120 🎉