r/StudentLoans • u/kamurrow • 2d ago

Another SAVE extension?

I received the email with the excerpt below on 10/6. The subject was “Final Notice - You will be Placed into a New Repayment Plan in 30 Days.” My original “you have 90 days” email was sent 7/15.

“A recent legal settlement ended the Saving on a Valuable Education (SAVE) Plan, and it is no longer available to borrowers. As a result of the settlement, MOHELA was directed by the U.S. Department of Education (ED) to move all borrowers out of the SAVE Plan.

We previously notified you that you had 90 days to select a new repayment plan; otherwise, you would be placed into another plan. You did not take action within that 90-day period.

This is your FINAL NOTICE. If you do not take immediate action to select a repayment plan, we will place you into a repayment plan in 30 days.”

I’m riding it out for at least another two weeks, but wanted to see if anyone else had gotten a similar email and if so, why they’re extending another 30 days.

65 Upvotes

99% Upvoted

43 comments sorted by

79

u/sisterzute3 2d ago

That “final final final (we really mean it this time and we are very scary so you better pick a plan buddy!) notice!!” Sure sounds like a 30 day extension to me. Everyone’s situation is different but I’m 55 and have been paying this since the 90s, in and out of default a few times, and still owe more than I borrowed. I’m just kinda done

26

u/weRallAddicts 2d ago

Similar boat. Mine will die with me.

19

u/iraqlobsta 2d ago

Same, i dont even care anymore. This loan system is so broken and stupid at this point

1

u/_ByAnyOther_Name 1d ago

If this is true I regret switching last week.

-3

u/[deleted] 2d ago

[removed] — view removed comment

9

u/sisterzute3 2d ago

Yes, this is what happens when you are struggling to make ends meet even though you are working full time, and overtime. Do you really think people are just deciding not to pay down that interest even though they have lots and lots of money and total could if they wanted to, but they are just to stupid and irresponsible to give that money to the government that needs it so desperately?

1

u/StudentLoans-ModTeam 2d ago

Removed for violating Rule 9: Off-topic. Your post/comment is either not about student loans or is unrelated to the topic of the user you're replying to. To have a different discussion about student loans, find a post about your topic to comment on or make your own.

1

u/Exciting_Signal3058 2d ago

It is related my wide was on SAVE plan. I processed her application for her on the loan from save to moehla 2 days before our "expiration date" simply because RAP was too high compared to what wed pay on IDR. Not the one expiring in 2028..we will be filing our taxes married but seperated why?

The payment would be 900 on rap, 500 on idr MFJ but MFS the payment is only 100 and change.

Once i did im fact apply for the new loan from save into that it gave me an email citing 90 days to process it. I tried calling i dont have time to talk to an agent while being in hold.

If this is unrelated. Good to know.

27

u/SpecialistLychee7490 2d ago

Everyone gets a final 30 day notice if they take no action during their 90 days, per DoEd: https://studentaid.gov/articles/save/#when-to-change

9

u/Howtobefreaky 2d ago

Wow, its wild that they are putting this out there officially. Like, they really don't want you to know about it, but also its official policy? I guess this is why Nelnet jumped the gun on extending everyone's deadline by 30 days. They missed the part of the directive where they were only supposed to grant the extension at the very last moment.

6

u/Aggressive_Donkey119 2d ago

So wait for this final 30 day notice ? My 90 days is coming in 2ish weeks

4

u/ketokatie1993 2d ago

I got my letter on 7/27 so I should have gotten a 30 day notice but never did… mine are with mohela

5

u/kamurrow 2d ago

Mine are also MOHELA

4

u/SpecialistLychee7490 2d ago

90 days from 7/27 is later this month ... You will get one

3

u/seahawkshuskies 2d ago

My 90 day ended yesterday and I never received a letter stating 30 day notice.

3

u/sharkbait_oohaha 2d ago

It took a couple extra days for my to get mine

1

u/ketokatie1993 2d ago

Right so I should have gotten a 30 day warning because now it’s less than 30 days until that due date

3

u/SpecialistLychee7490 1d ago

No no, the thirty days starts after the 90 days is over! You get a whole other month.

2

u/ketokatie1993 1d ago

So we have to be past the 90 days to then get a 30 day warning. That’s so silly

4

u/gettingcarriedaway86 1d ago

So people who listened to the 90 day deadline get screwed? That makes no sense

7

u/Different-Lie-1766 1d ago

Brave of you to think this administration makes any sense.. ergo nothing make sense

1

u/SpecialistLychee7490 1d ago

Maybe they added it after the first wave hit 90 days? I don't know. But it definitely is for everyone at this point.

2

u/_ByAnyOther_Name 1d ago

Can i cancel my switch while it's processing? Ugh.

1

u/drKRB 2d ago

Good feedback.

1

u/_ByAnyOther_Name 1d ago

Wow did none of us see this? I thought i waited till the last minute. So we really had 180 days?

17

u/notsurewhattowrite00 2d ago

I got a 90 day notice on 7/15 also but never received a 30 day notice. I also never received any email notification about extending the deadline to enroll in autopay for savings on interest. No phone calls, nothing. What a cluster F…

8

u/SpecialistLychee7490 2d ago

You are just now at the end of your 90 days. It took them a week after the end of my 90 days to send the 30 day extension. It will come. It is part of the process per DoEd

2

u/notsurewhattowrite00 2d ago

Patiently waiting lol

4

u/VillageDifficult2533 2d ago

Same here. Today is my 90 days. Im going to wait to see if i get the final notice.

3

u/This_Ad_2987 2d ago

today is also my 90 day. contacted ed financial and they said i should receive my 30 day extension either today or tomorrow…my IDR and standard are only a $30 difference.. so i’ll see if they put me on one

2

u/VillageDifficult2533 2d ago

Thanks for sharing!

2

u/writercanyoubeaghost 2d ago

Going for the same strategy! Nelnet said 10/28 then 11/28 and then changed it back to 10/28. But I’ll wait it out.

2

u/Exciting_Signal3058 2d ago

I proceesed my wifes we got a itd be processed on 90 days

2

u/JamTheJukeBox 2d ago

anyone with Aidvantage get the final 30 day notice?

3

u/Educational_Camel844 1d ago

I’ve read that. I think it’s driven by political fear. They know they’re about to get obliterated in the polls and they know that the system they’re putting in place to deal with this new landscape/mess they’ve created isn’t even ready yet, so they’re trying to buy time

1

u/Sephiroth007 2d ago

Same here but I never got my 30 day notice email 🤷

1

u/TrustIssues33 1d ago

Yes same and I'm g lading out until they switch me and then I will go on General forbearance

1

u/invest0rZ 1d ago

It sure what yall waiting for.

•

u/I_redd_its_all 9h ago

Bottom line is they want you to stay in debt. My plan was to take out a personal loan and make a deal getting ahold of the Default Resolution Group to at least have control over it on my own terms. Come to find out it requires you to be at least 270 days defaulted to make a deal and pay it off, which would ruin my ctedit if I allowed that. Consolidating it for the "Save" plan hurt my credit bc it was considered new debt over old debt. Here is a link to explain it better.

Student Loan Settlement Options

•

u/WrongCoconut351 2h ago

My wife got hers at day 94.

1

u/TrustIssues33 1d ago

Anyone waiting for" them" to switch you after the fina 30 days - let us know. The fact they are not going us the option of repaye versus others is BS . RAP is out of the question as we can't buyback our administrative forbearance months!