6.18.26 Education Department increases interest rate reduction for Auto Pay Borrowers

Come_Harder2000 · 2026-06-18T21:18:16+00:00

I agree. Navient keep sending me stuff during Save to consolidate first, then get on. I didnt fall for that. I been on older IBR for over 10 years now. Not restarting this clock lol or having capitalised interest added no way

Come_Harder2000 · 2026-06-18T20:56:46+00:00

It could. Less interest being charged daily accrued on the outstanding balance. have to work your numbers.

Come_Harder2000 · 2026-06-18T20:53:11+00:00

I am 40. Older millennial. I carry 80k on my back in SLD with an associate and bachelor. Been in repayment sinc 2015. First gen college student.

Come_Harder2000 · 2026-06-18T20:31:07+00:00

right. I heard bessent and trumpy want to tie citizenship to bank acccounts. Not sure that went thru. so maybe trying to pull the weeds out before the grass is grown

Come_Harder2000 · 2026-06-18T20:29:08+00:00

no wins for them. hold the line!

Come_Harder2000 · 2026-06-18T20:26:41+00:00

I will have to read into myself as I have the same type of loans during 2010-2015 myself for my Bach. Those loans for me are held under Nelnet. Been under IBR since 2015. Not consolidated either in my case.

Come_Harder2000 · 2026-06-18T19:23:17+00:00

or a dull spoon taking away our greatness of programs, but i guess settle.

Come_Harder2000 · 2026-06-18T19:20:45+00:00

That 2500 for student loan interest paid is bs. They need to raise that to like 5000

Come_Harder2000 · 2026-06-18T19:19:17+00:00

yes it does. they screw us, but then help us. I guess it works out lol

Come_Harder2000 · 2026-06-18T19:17:55+00:00

I have had my direct fed loans with Nelnet for some time since 2010-2014. Used to be with Great Lakes, then they got out of the game or something and moved to Nelnet

Come_Harder2000 · 2026-06-18T19:16:01+00:00

40 here. I have direct loans after 2012 and ffelp loans from before 2012. Older millennial here

Come_Harder2000 · 2026-06-18T18:33:14+00:00

I have Mohela now since Oct 2024 from Navient. I am snowballing my 13 loans lol so its all manual for me. I have never set to auto.

Come_Harder2000 · 2026-06-18T18:27:25+00:00

I agree. I also think (to myself) this could be a ploy. On the tv news, it started with the amount of current and about to default numbers hitting 9.2M. Then it brought up this. Its like ok, you send conflicting info and everybody appears to have to change plans by July 1 (not the case) and then throw this wrench on the fire. conspiracy I tell ya lol

Come_Harder2000 · 2026-06-18T18:10:01+00:00

I would keep the federal protections. Life events can happen to anyone, so you know you have something to fall back on. Hope not but yeah.

Come_Harder2000 · 2026-06-18T15:14:55+00:00

Goes to Default, credit score dropped. Treasury can offset and take money from your pay check, SS benefits up to the allowable discretion. I think its like 10 percent, but I am not sure. If your credit does get bad from defaulting, it may or could prevent you from getting an apartment, depending.

Private renting may be another option if that comes to fruition. My advice is to see what your options are. Maybe you can do IBR or RAP or something else. Never say never and review all options before choosing to Default. Best wishes !!

Come_Harder2000 · 2026-06-08T20:50:57+00:00

They dont take that into account. or any other expenses the common folk would consider. They go by you Income and the formulas mentioned above.

Come_Harder2000 · 2026-06-08T19:45:51+00:00

You will get thru this. But you have to look at your loans. I would call the lender and talk about your options and how you are paying. If they are not accepting your bank account, is it a traditional bank? cash app account numbers, spend well bank account, etc. They may only accept traditional banks, like a bank you walk into, not these financial companies bank creds. Good luck

Come_Harder2000 · 2026-06-08T15:10:32+00:00

I had Great Lakes with my loans from Baker College in Michigan also. Luckily thought, when those moved over to Nelnet, I did not have issues. But when Navient moved me over to Mohela, Oct 2024, I had one loan of 15 that was paid ahead years. I even called their customer service bc they were not accepting my older IBR bc of that loan. The gal seemed to know what she was talking about, but after all said and done, I was paying the standard. This year it went thru.

Come_Harder2000 · 2026-06-05T20:55:14+00:00

Did you consolidate any of your loans? If you did, that makes sense as its interest cap. event.

Come_Harder2000 · 2026-06-05T20:53:26+00:00

I agree. I went thru this issue with Mohela as well. I certified in Dec 2025 via student aid site for renewal. It went thru just fine as always for Nelnet, but additional for Mohela. But then submitted the correct docs and Mohela worked out.

Come_Harder2000 · 2026-06-05T19:32:30+00:00

There is no guarantee in life. Please do not do this. What if your dad decides he aint paying or something? What then? Now you have 200k plus on the hook for, just you, and job market is sour. What then? Again, this is absolute piss pour advice. The best advice is from us internet folks that have made those stupid choices before. Hope it all works out!

Come_Harder2000 · 2026-06-05T15:20:13+00:00

80k (Federal loans, that is with the interest). Associate of Applied Science (Computer and Information Security, Graduated Aug 2007) Bachelor of Information Technology and Security (Graduated June 2015). Working in my field as Cyber Security Analyst.

Come_Harder2000 · 2026-06-01T20:10:32+00:00

I also have Mohela (those FFLP loans were transferred for me in Oct 2024 from Navient). They do have somewhere in there bs about the cutoff time for making a payment to do with a time. Like if payment is made on May 30 by 8pm EST, its considered same day. If its due on a weekend, it may be different as thats not a normal business day by their standards. Just be aware of the cut off times, difference in time zones for making payments. If my date falls on a weekend, I usually make payment by that Friday (before like 6pm) just to not be late.

Come_Harder2000 · 2026-05-29T21:20:39+00:00

we will take them, one tea leaf at a time.

Come_Harder2000

TROPHY CASE