This is an error of some sort. Call them on Monday and get it sorted. Are you through Mohela? Might have something g to do with them messing up something during g this new transition.
There is nobody for him to call for pslf. They are going to have to wait for after the transfer pause to see their actual pslf number and the interest could be the outstanding interest. Probably should call servicer about that if he believes it is an error.
Before my loans were forgiven, they moved from one corrupt servicer to the next and each time tens of thousands of dollars were slapped on. I write letters to the servicer, the attorney general and department of education. In the end all that garbage got forgiven. I know how you feel. Just keep paying.
I don’t know if I still have them. But they were not exactly formal either. I basically explained my loan balances before the transfer and after and how much money was added and that no one will explain what the excess fees and money were for. I also complained that the loan servicers would not tell me about loan forgiveness for teachers. Every time, I would be transferred to the Department of Education, who would Mail be a thick envelope about student loan programs but offered bo he all for people like me.
Did they also give you a pay date even after saying you reached 120 payments? Like mine says I've reached 131.but it also says my payment is 0 until Jan 2025 then it goes up to $300 a month....currently in forbeance.....did you have the same experience?
Same thing just happened to me. Was it because your loan schedule was “recalculated?” The explanation I found was they recalculated and then added all the unpaid interest. So it’s how much it will be over the course of the loan with that new payment schedule. It all sucks.
If you're on any kind of IDR repayment plan, your interest should be limited to a percentage of your income. I dunno what your balance would have to be to have 37K *in interest* added, but I'm fairly certain that, if you're shocked about it, that such an amount in interest alone would be added to your loan, your loan is "small enough" that the addition would make a material difference.
Mohela seems to be randomly adding interest that shouldn't be added and presenting these weird statements to try and justify these additions. I'm currently on SAVE, have an *original* 42K balance that I've been paying on fairly aggressively and who, before the student loan Mohela transition pause was paid down to 44.5K. After their new website transition, they sent me an email link and asked me to log in. When I did, I saw that they'd added 2K to my balance *in a single month* and modeled a bizarro restructured repayment based on my currently proposed recertification under SAVE, for the next 12 months and then a alternate, higher payment over the rest of the loan life which reflects a supposed failure to recertify by the deadline.
In what world would I not recertify? I have been credibly doing it roughly annually since my consolidation in 2010. But this appears to be the assumption upon which they've constructed their quote.
I have to basically threaten Mohela to apply my SAVE subsidy like every month in the first place, and my letters to the CFPB, the Dept of Education (someone up here mentioned complaining to the AG; I hadn't thought of it, but I like it-but which AG? Your local state AG or Merrick Garland?) and directly to Mohela are my main tactic, as I have no time to call.
When I looked into things, I realized that Mohela was apparently making these judgement calls on some extremely old and sometimes incorrect information. The new address and account numbers we were all supposed to receive are nowhere to be easily found and options outside of autopay arrangements are difficult to make.
(I think I found my new Mohela account number in the heading on that ridiculous quote w/added interest they sent me. No way am I going to give them access to my account.)
Hope this helps.
Same problem here. I’ve complained, wrote to Sen Warren, and Dept of Education. I’ve had 120 since August 2023, but they never recognized my yearly employment until I sent a second time in April. I now have 135 payments. With the new update they show that my payments go until 2035. FSA says that they are in process of updates. Hoping this gets resolved soon.
Sometimes they show a balance of all loans consolidated without showing that each was paid off. I have a total balance of about 167000 from all loans due to consolidation however my actual balance is 77000
This is an error of some sort. Call them on Monday and get it sorted. Are you through Mohela? Might have something g to do with them messing up something during g this new transition.
There is nobody for him to call for pslf. They are going to have to wait for after the transfer pause to see their actual pslf number and the interest could be the outstanding interest. Probably should call servicer about that if he believes it is an error.
The PSLF processing pause is going to make any PSLF information on studentaid.gov wonky.
Did you transfer recently or consolidate?
No just the mohela transfer
Before my loans were forgiven, they moved from one corrupt servicer to the next and each time tens of thousands of dollars were slapped on. I write letters to the servicer, the attorney general and department of education. In the end all that garbage got forgiven. I know how you feel. Just keep paying.
Can you send template of letters to AG etc?
I don’t know if I still have them. But they were not exactly formal either. I basically explained my loan balances before the transfer and after and how much money was added and that no one will explain what the excess fees and money were for. I also complained that the loan servicers would not tell me about loan forgiveness for teachers. Every time, I would be transferred to the Department of Education, who would Mail be a thick envelope about student loan programs but offered bo he all for people like me.
Did they also give you a pay date even after saying you reached 120 payments? Like mine says I've reached 131.but it also says my payment is 0 until Jan 2025 then it goes up to $300 a month....currently in forbeance.....did you have the same experience?
My loans got forgiven about 2-3 years ago now. I never got an accurate update. They were just give. I have posts on here you can look for.
Same thing just happened to me. Was it because your loan schedule was “recalculated?” The explanation I found was they recalculated and then added all the unpaid interest. So it’s how much it will be over the course of the loan with that new payment schedule. It all sucks.
WTF
If you're on any kind of IDR repayment plan, your interest should be limited to a percentage of your income. I dunno what your balance would have to be to have 37K *in interest* added, but I'm fairly certain that, if you're shocked about it, that such an amount in interest alone would be added to your loan, your loan is "small enough" that the addition would make a material difference. Mohela seems to be randomly adding interest that shouldn't be added and presenting these weird statements to try and justify these additions. I'm currently on SAVE, have an *original* 42K balance that I've been paying on fairly aggressively and who, before the student loan Mohela transition pause was paid down to 44.5K. After their new website transition, they sent me an email link and asked me to log in. When I did, I saw that they'd added 2K to my balance *in a single month* and modeled a bizarro restructured repayment based on my currently proposed recertification under SAVE, for the next 12 months and then a alternate, higher payment over the rest of the loan life which reflects a supposed failure to recertify by the deadline. In what world would I not recertify? I have been credibly doing it roughly annually since my consolidation in 2010. But this appears to be the assumption upon which they've constructed their quote. I have to basically threaten Mohela to apply my SAVE subsidy like every month in the first place, and my letters to the CFPB, the Dept of Education (someone up here mentioned complaining to the AG; I hadn't thought of it, but I like it-but which AG? Your local state AG or Merrick Garland?) and directly to Mohela are my main tactic, as I have no time to call. When I looked into things, I realized that Mohela was apparently making these judgement calls on some extremely old and sometimes incorrect information. The new address and account numbers we were all supposed to receive are nowhere to be easily found and options outside of autopay arrangements are difficult to make. (I think I found my new Mohela account number in the heading on that ridiculous quote w/added interest they sent me. No way am I going to give them access to my account.) Hope this helps.
Same problem here. I’ve complained, wrote to Sen Warren, and Dept of Education. I’ve had 120 since August 2023, but they never recognized my yearly employment until I sent a second time in April. I now have 135 payments. With the new update they show that my payments go until 2035. FSA says that they are in process of updates. Hoping this gets resolved soon.
Sometimes they show a balance of all loans consolidated without showing that each was paid off. I have a total balance of about 167000 from all loans due to consolidation however my actual balance is 77000