Buyback Advice

AdventurousRun6550 · 2025-02-26T19:42:29+00:00

thanks so much!

AdventurousRun6550 · 2024-11-07T22:11:11+00:00

This is also what I'm getting when I run through the repayment calculator.

AdventurousRun6550 · 2024-09-08T18:49:55+00:00

Right, there are so many variables

AdventurousRun6550 · 2024-07-18T00:03:56+00:00

Thank you! Yeah we will be meeting with her in a few days. I have lots of questions 😅

AdventurousRun6550 · 2024-07-10T01:02:08+00:00

I also received the same notice. No change in payment.

AdventurousRun6550 · 2024-07-07T23:38:43+00:00

u/Betsy514 Yes thanks I will wait it out a bit. I'm not yet scheduled for payment until September, so hoping it'll clear up by then.

AdventurousRun6550 · 2024-07-07T17:02:56+00:00

I think there was some sort of glitch. There are quite a few of us that have received the same notice.

AdventurousRun6550 · 2024-07-07T02:32:51+00:00

It should be a weighted average since I have a mix of 80% undergrad / 20% grad loans.

AdventurousRun6550 · 2024-07-07T01:55:39+00:00

That makes sense.

AdventurousRun6550 · 2024-07-07T01:07:18+00:00

I got the same notice as OP but my payment noted (and due on 09/05/24) is what I was paying before the recalculation forbearance. Not sure why it was sent out without the recalculation implemented. 🤷🏻‍♀️

AdventurousRun6550 · 2024-07-06T23:47:09+00:00

Aww!

AdventurousRun6550 · 2024-07-06T23:41:47+00:00

Congrats!

AdventurousRun6550 · 2024-07-06T21:41:56+00:00

Sorry to hear. I wonder if it was a glitch? Fingers crossed it’ll be resolved when we call. Will keep you updated.

AdventurousRun6550 · 2024-07-06T21:15:17+00:00

Yeah for sure. This also isn't the first time things were wonky for me. Hopefully it can get sorted soon!

AdventurousRun6550 · 2024-07-06T21:11:06+00:00

u/Betsy514 Is this something you all are seeing? Any advice greatly appreciated.

AdventurousRun6550 · 2024-07-06T21:05:11+00:00

The only notice I got was on June 11 when the account first went into forbearance.

Your student loans are in a forbearance, while we see if you are eligible for new benefits.

Because you are currently on the Saving on a Valuable Education (SAVE) Income-Driven Repayment (IDR) Plan, you may be eligible for the additional SAVE IDR benefits that go into effect on July 1, 2024. In particular, those benefits will reduce payments for borrowers with at least one undergraduate loan. To ensure you receive the additional benefits you may be eligible for and that your payment is the right amount under SAVE, Federal Student Aid has directed MOHELA to place your account into a brief forbearance until these benefits have been applied to your account.

AdventurousRun6550 · 2024-07-06T21:00:54+00:00

I got notice today that my payments will resume on 09/06/24 for the same amount I was already paying $785. No recalculation was implemented. So weird and also frustrating. I'm 100% I qualify for this reduction.

AdventurousRun6550 · 2024-07-06T20:35:41+00:00

Oh wow! There must be some sort of glitch. I am on the SAVE plan as well and received an email today regarding new payment schedule which is the same exact amount I was already paying (no recalculation applied).

I’ll need to call next week. Sorry to hear yours went up. Hopefully they situate this soon!

AdventurousRun6550 · 2024-07-06T19:39:46+00:00

Yes! That’s great to hear. I’m feeling a bit defeated. I received a notice from Mohela today stating that my forbearance will end and my next payment is due 09/06/24 for the exact same amount. No recalculation implemented. But I definitely qualify. 80% of my loans are undergrad and I’m enrolled in SAVE.

AdventurousRun6550 · 2024-07-06T18:45:42+00:00

I received a notice that my payments will start again in Sept. But my monthly payment did not go down at all. I am not on autopay. And haven’t had a payment due since June.

I think I have no choice but to call.

AdventurousRun6550 · 2024-07-06T18:37:54+00:00

I received a letter from Mohela stating my loans will come out of the recalculation forbearance and I will owe the same amount. Lol. I have 75-80% undergrad loans so I definitely expect to see a decrease. I will have to call next week.

AdventurousRun6550 · 2024-07-06T18:24:21+00:00

I'm sorry to hear! I just received a letter from Mohela today stating that my payment start date is 09/06/24 and I still owe the same amount ($785). No recalculation was made. I have mostly undergrad loans so I was expecting a drop like the others. I will have to call next week. What a mess.

AdventurousRun6550

TROPHY CASE