Another Pause

My kids only have direct loans (at this point; one had a Perkins loan we paid off). We still have hope that some of those will be forgiven. One is in grad school so she would have put the loan into deferment, but this way there is no interest accruing.

Neither had been contacted by a servicer to resume payments. If borrowers are required to begin repayment in the fall, the servicers HAVE to have a procedure to start the repayments and communicate that to the former students. Some grads never made any payments, others like my DD#1 have moved and had a change of circumstances., and others were with a servicer that has now closed and they don’t even know where to make payments. I had just told her on Monday to contact the FA office to figure out what she needed to do to get the deferment processed and then this was announce on Tues. A guy I’m working with tried to get a deferment processed because of his Americorps status and they told him no because the pause (last fall). Now he’ll be back in school by Sept 1, so his status will not be correct either.