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bamabum5
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eastcoastghost
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bamabum5 said...
I just logged into my federal student loan account to make my monthly payment. My balance is zero and it says a payoff was made covering the entire remaining balance for more than $6,500 on just over a month ago. I didn't make the payment and it is listed as "other" under the category. I haven't received anything in writing regarding some sort of forgiveness of student loans. Was something passed forgiving federal student loans that I am unaware of? I didn't think I would qualify for any of the legislation that was being discussed regarding this issue. TIA
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bamabum5
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bamabum5 said...
It wasn't that big of a deal. My minimum monthly payment was $25 but I usually put $100 towards it monthly. Just strange that I literally knew nothing about it and it was completely taken care of with no notification explaining it.
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bamabum5 said...
No, I was asking if the govt sells off loans. I am trying to figure out through searches if there has been something that might explain it. I see where there was a transfer of direct loans servicing to a special direct consolidation servicer but I am having trouble understanding why this would affect me. I only had the one loan and I didn't apply for any consolidation program. I don't know. I'll just have to wait and see what the heck is going on when I call monday.
def would print out the page showing that you have a 0 balance for now and no payment due in case they come back and try to charge you a late fee later
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Topspin1 said...
Hmmmmm, student loans......The Gov..........If I had a large student loan, I would go into bankruptcy and discharge it, especially if I was in my early 20's. The gov owes you and your family that much x 1000 if not more. They want you to believe you cant discharge it, plus taxes etc,yada yada....but this is not true. When has the gov EVER told the truth. All smoke and mirrors folks. How do I know, because I assist people in bankrupcies. Mainly chapter 7 and an occasional chapter 9, to collaspe the trust, but that is beyond the abilty to understand for most. Challenge your gov folks, as they lie lie lie....
Michigan State does not and will not run the 3-4 defense.
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bamabum5 said...
I just logged into my federal student loan account to make my monthly payment. My balance is zero and it says a payoff was made covering the entire remaining balance for more than $6,500 on just over a month ago. I didn't make the payment and it is listed as "other" under the category. I haven't received anything in writing regarding some sort of forgiveness of student loans. Was something passed forgiving federal student loans that I am unaware of? I didn't think I would qualify for any of the legislation that was being discussed regarding this issue. TIA
Michigan State does not and will not run the 3-4 defense.
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Topspin1 said...
Spartan you are 100% incorrect. That is just what they want you to believe. You just have to know how to file....Hint...Dont use an attorney......They just follow protocol and procedure........
Given that I am an attorney, I object to your statement quite vehemently
.
Of course, not following protocol and procedure can also be called "Fraud" . . . but hey, what do I know?
Michigan State does not and will not run the 3-4 defense.
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SpartanRocky said...
This has happened multiple times to me. It just means that another service bought your loans and you have to make payments to them. At one point I was paying loans to 3 different companies. I'm in the process of doing a consolidation.
Student loans suck, but hey, that's the price you pay for education. Nothing to do but suck it up and pay it off.
Also, $6,500 is nothing in loan debt. You're a lucky guy.
bamabum5
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bamabum5 said...
Yeah, this is the first time I have had my loan move to another loan servicing company. I borrowed nary $18,000 for my education but I enlisted and the contract called for the Navy to repay my student loans. They paid it but it is considered income so it is taxed. Instead of paying the whole thing off and letting me pay taxes, they just deducted the tax amount from the payment and it left me with roughly $7,000 to finish paying. It really is no big deal as my minimum payment is $22.00 per month with just $5.00 per month being interest. It is not a big deal at all. Just glad I figured out where my loan went so I could set up my payments online.
You're a smart man by asking for advice. I'd probably be like, "Hell ya!
" only to get serviced w/ papers that I've defaulted on my loan at a later date. VegasTide
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Student Federal Loans...Did I miss something?