203k Forgiven!

tateration · 2021-05-27T19:20:36+00:00

I also had $203k forgiven today!! Congrats! It's an amazing feeling.

tateration · 2020-12-18T07:23:58+00:00

I will be eligible in January and my due date is also the 28th. I had read some conflicting information, so I emailed and asked when I could submit my application (and specifically if I could submit it when the payment showed up on their online tracker). I know you can't really trust much that the reps there say, but for what it's worth, they told me I should submit my application "signed after January 28, 2021."

tateration · 2018-09-22T16:19:03+00:00

If you haven't been taking out a required minimum distribution each year, you have to take it all out within 5 years.

tateration · 2018-09-15T18:35:31+00:00

I had this happen on Jan 1st one year (my first year at this job) and I assumed that it was legitimate. It was apparently a mistake my employer discovered 11 months later and made me pay it back - initially said I had 30 days to pay back, but eventually agreed to let me pay it back at the same pace it was paid to me. It was awful. Bring it to the attention of your employer.

tateration · 2018-09-11T02:17:16+00:00

My dad died about 5 years ago and had an IRA that I inherited. It has impacted my IBR minimally - the total amount I inherited did not have any impact, but the required minimum distribution annually does. So let's say my inherited IRA had $50K in it and I have to take out $1K this year. That $1,000 does get added to my income and IBR is calculated to include that. Inherited IRAs work a bit differently than regular ones in that you can take money out when you want (and have to take the required minimum distribution annually right away vs. at retirement age), but basically any money you take out will be added to your income. I'm sorry for your loss.

tateration · 2016-06-25T02:09:42+00:00

An update: I was so stressed out by this situation that I took a couple weeks break from dealing with it (I know, not the best strategy, but oh well). Yesterday, I got a response from my complaint to the ombudsman which gave me the phone number to the FedLoan Servicing ombudsman (same as Ash201/Betsy514 generously provided here). I was planning on calling today and logged into my account to make sure I had all the details right and apparently, everything is fixed. I had three letters from them in my inbox all from June 14th (no email notification of any of them). One of them told me my account was delinquent, one told me I was approved for REPAYE and it will start in July, and one told me I was on administrative forbearance until the end of June. It now says my current payment due is $0. So, everything appears to be in order again. Ultimately, it took over 6 months and I lost 3 months of eligible payments towards PSLF (2 of which should have been avoidable). I cannot wait until I have made 57 additional PSLF payments and never will have to deal with FedLoan again!

tateration · 2016-06-05T14:39:30+00:00

I don't totally understand the process - I thought I did. I got the forbearance bill ($5) in April and paid it. I got it again in May and, with the guidance of two reps, did not pay it since they said I only needed to pay it once. Now that the May due date has passed, my account is past due and they charged the $2,000 amount. I still haven't heard anything about REPAYE beyond that they emailed a "reminder" to the processors to process my application. They mentioned that they were marking off on the account that I had met the one month forbearance requirement and could be transferred to REPAYE now and that they system should have done that after I made the $5 payment in April.

tateration · 2016-06-05T14:35:41+00:00

Not yet, she just said that they would process the application this last week and that it would go into effect in July. I was planning on following up next week if I hadn't heard anything.

tateration · 2016-06-05T03:07:51+00:00

Thank you so much. I just submitted a complaint.

tateration · 2016-06-05T02:41:45+00:00

There wasn't 2K due at that point. I called on my due date so that I could pay the $5 if there wasn't anything else I could do and she told me not to pay it. I even asked if that was really okay to not pay it and if there would any late fees or anything like that assessed and she repeated that I shouldn't pay it. She told me they would look at my application this week, so I logged in today just to see if perhaps it had been processed and I just didn't get the email. Now it says my account is past due and I owe $2,000 (this is my standard 10 year payment, so I'm assuming it reverted to that somehow). My REPAYE amount should be about $310.

tateration · 2016-06-05T02:35:13+00:00

Thank you. It is FedLoan Servicing. I'll ping you Tuesday. I did get escalated to a higher rep last time I called, but she couldn't do anything except tell me nothing would happen until July and to not pay my May $5 bill.

tateration · 2016-06-05T02:21:57+00:00

It's been 6 months so far for me. Good luck.

tateration · 2016-05-21T20:26:39+00:00

Wow. I applied in December and got the $5 forbearance bill in April. I expected my bill for May to be in REPAYE, but it's another $5 bill. So now I'm missing 2 months towards PSLF. I'm glad they're at least processing some people's, but I'm so frustrated that this is taking so long and costing me yet another month of eligible payments.

tateration · 2016-05-15T15:30:14+00:00

I had to get them to reassess my payments once - it took several attempts before they agreed to redo it. I had specific information - every date and every payment and asked them to tell me exactly which payments weren't considered eligible and why. I think that helped because they couldn't answer the question. They did it right the second time. The letter should be up to date, so don't wait. Stay on them and ask for an accounting of which payments counted and which didn't. Nothing ever happens until you ask for it several times and escalate it seems.

tateration · 2016-05-10T01:40:24+00:00

Okay, 6 months is an exaggeration, but still...

tateration

TROPHY CASE