Anyone out there with student loans?

slmille4 · October 2013

I'm convinced that the ppl handling my student loans are a bunch of high schoolers who don't know what they are talking about. So I want to apply for a deferment while I'm on maternity leave for my fed loans which is a $1000 a month payment. So first guy I talk to he says I don't qualify for a deferment because I'm currently working full time but he can send me the paperwork for excessive debt forebarance. I'm like ok, so he sends me this form and they only thing that shows if u qualify is your gross monthly income, I am very lucky and make around 3400 a month, they are going to look at that and laugh and say why does she need a forebarance. So I call back and get someone new and she says oh yeah u qualify for the unemployment forebarance but we have to do a temporary one right now because that can take up to two billing cycles to process. So I'm like ok and she says she'll start it in November. I'm like I can make it in November just looking to start it in December. She says well u can make the November payment but I'm going to put ur account in deferment now just to get the ball rolling.
So has anyone out the loans into deferment? Is it just a fill out this form and ur ok no one comes asking questions type of thing? I'm just worried because the first person said no I couldn't do the unemployment thing because my job will technically be waiting for me and this girl says yes but was a fast talker that the government will come after me saying well u weren't really unemployed pay us back for that time u were in deferment a punch of penalties.

Sorry for the limited paragraphs and punctuation. Mobile bumping.

aessary03 · October 2013

Mine are in forbearance right now. I've never qualified for a deferment. So I don't know what to tell ya!

PreDempsey · October 2013

Sallie Mae is a cruel bitch.

LabPupLuv · October 2013

I have student loans too (federal and private). I need to look into this as well. I intend to continue making the payments during my time off and am saving up money to put towards them, but how awesome would it be if I could defer if I can't find another job right away! I found this site: https://www.collegescholarships.org/loans/deferment.htm It lists pregnany as one of several reasons for qualifying for deferment, not just unemployment. I'm not sure if this only applies to federal or if you can defer private as well. Definitely let us know what you find out!

HappyDoc · October 2013

I am assuming that you will be making less money while you are on maternity leave than what you typically make, so this amount of money is what they should use to determine whether or not you qualify. That being said, as long as they approve it, you should be fine. They don't routinely go back and do audits of deferments or forbearances, they actually end up getting more money from you because interest continues to accrue during this time. If you are uncomfortable with the information you received, I would recommend calling back and asking to speak to a supervisor explaining that you have received conflicting information. Good luck!!!

ashleywiz · October 2013

I hadn't even considered going into deferment on ML... hmmm.. I probably won't - though I can see why you'd want to. Good luck and definitely let us know what happens with that!

LabPupLuv · October 2013

I hate student loans.

jldubb0626 · October 2013

I hate student loans and the whole process associated with them. Another reason I will not be forcing my child into a college degree if they don't want to.

aessary03 · October 2013

It's better to defer if you can because you don't accrue interest on your loans like you do a forbearance, hence why the deferment is more difficult to put through.

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Anyone out there with student loans?

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