Income Driven Repayment plans | Deferment | Forbearance | Processes | Forgiveness |
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What is ICR?
20% of the borrowers discretionary income and 100% of poverty guidelines is used to calculate these repayment plans.
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What is the process for applying for In-School Deferment within 60 days of enrollment date?
Apply a 7D7 code.
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What is forb slapping?
This is a process that is frowned upon.
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What are credit card payments?
These payments can no longer be accepted in CSR portal.
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What is TLF?
This is offered to those who have loans disbursed after 10/01/98.
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What is REPAYE?
If borrowers file separately, the spouse's income is still used in this repayment plan.
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What is A or P flag borrowers?
.These borrowers must be enrolled full time in school to receive the In-School Deferment.
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What is an RPF?
To request this forbearance, a borrower must speak with help desk.
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What is a death certificate?
This document can be sent to PO Box 82505
Lincoln, NE 68501-2505, Fax: 877.402.5816, or to [email protected]. |
What is the Get on your Feet loan forgiveness program for New York State residents?
This program was started just this year and looks to assist those residents of New York State that attended an in-state college and continue to live there. This program looks to assist with the first 2 years of payments that the borrower would have to make. The borrower must qualify for Pay As You Earn (PAYE) to be eligible for this as well.
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What is IDR recalculation requests?
Payments would be updated regardless of the 21 day rule for this time of application.
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What is a Summer Bridge Deferment?
Borrower must be enrolled at least half time for the full semester before and next semester to receive this assistance.
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What is Teacher Loan Forgiveness Forbearance?
This forbearance is offered if a borrower will be receiving total forgiveness on the remaining balance of the loan.
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What is the new auto debit logic?
This process will only draft the amount that is listed on the payment schedule/disclosure.
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What is Alt Standard REPAYE payments?
These payments no longer count towards PSLF forgiveness.
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What is exiting IDR for term based (or) exiting IBR?
Borrower is required to contact solutions to request this action.
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What is Unemployment Deferment?
A teacher does not qualify for this kind of assistance during the summer.
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What is Natural/National Disaster Forbearance?
This mandatory forbearance is applied to the account for 90 days.
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What is when the account is over 270dpd, or if under 270dpd and has been making payments on the account.
In these circumstances can an endorser request a forbearance on an account.
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What is the Child Care Provider Loan Forgiveness Program?
This forgiveness program is a demonstration program that is intended to bring more highly trained individuals into the early childcare profession and to keep those child care providers in the field for longer periods of time.
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What is REPAYE, PAYE, IBR 2014?
10% of the borrowers discretionary income is used to calculate these repayment plans.
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What is a Rehabilitation Deferment?
The borrower qualifies for this kind of Deferment when the borrower is attending a rehabilitation agency.
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What is Natural/National Disaster Forbearance?
This forbearance can be applied by a 3rd party's request as long as the source is reliable and the circumstance can be proved.
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What is Prime Credit LLC, IMC Capital LLC, Commercial Credit Consultants, and Park View Law.
The Consumer Financial Protection Bureau (CFPB) filed two complaints and proposed a final judgment against these companies.
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What is the Janet L. Hoffman Loan Assistance Repayment Program (LARP)?
This program is to help those Maryland residents who attended an in-state school or have been given a resident teacher certificate from the Maryland State Department of Education as they provide assistance to low income, underserved residents or underserved areas in the state.
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