r/StudentLoans • u/Classic_Comfort6594 • 1d ago
Advice Save plan deadline for this week.
Anyone else have their Save plan deadline this week? Mine is tomorrow and not sure whether to wait for the FSA 30 day extension or apply today. What is everyone due this week doing?
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u/thatsammysmile 1d ago
I am waiting. I consolidated A LOT of interest to get on save. If I go on standard, it's only a few hundred more than my IBR. (Apparently since my loan balance is so high, my standard is on a 30 year plan now.)
However, my master plan is to simply wait till i get switched to standard request a forbearance and then go on IBR.
I got royally screwed by the advice to consolidate to go on save and i have no interest in paying until it becomes absolutely necessary. I would still be chugging along on old ibr, with substantially less interest were it not for getting the rug pulled out from under me in SAVE.
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u/AO_ReadyOrNot 16h ago
My 90th day passed 3 days ago... I did nothing. Today, Mohela website still shows I'm on SAVE with $0 payment due in 10 days. I didn't ask to be in SAVE, I was auto-switched, so I'm not asking to get out of it. When (or if) they switch me to Standard, I'm applying for buyback and going into General Forbearance. I need to buy 20 months for PSLF & I hit my 10 years of employment a few months ago. I have zero faith in Mohela doing anything timely, so I'll wait them out & stack cash for the long haul wait time on buyback. I'm not moving until they move first. I've survived 10 years of customer facing public service, let's see who blinks first.
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u/Newt_sCharmander 9h ago
Mine was a few days ago. I did nothing and nothing has changed. Same for my wife
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u/Apprehensive_Toe2725 5h ago
My 90-day deadline was October 14th and Nelnet sent me my letter today (although it was dated Oct 14th). The blue notification window on my Nelnet dashboard that had my deadline to apply has disappeared but there is still the link to apply for new plan at the Student Aid website. In case you wondering what the Nelnet 30-day notice looks like, this is what they sent me:
SAVE Plan Update – ACTION NEEDED: You will be placed into a new repayment plan in 30 days.
Account: XXXXXXXXXX
Dear XXX,
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, Nelnet 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.
If you’re currently enrolled in the SAVE Plan but do not submit a new application for a different repayment plan within 30 days, you will be placed on the Standard Repayment Plan. If you have a new loan that entered repayment on or after July 1, 2026, we will place you on the Tiered Standard Plan.
Visit StudentAid.gov/repayment-calculator to estimate monthly payments, determine your eligibility, and choose the repayment plan that best meets your needs and goals.
You can find more information about the settlement at StudentAid.gov/courtactions.
If you have questions, contact Nelnet.
[the letter continues with another page of boilerplate about autopayments and avoiding scams]
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u/VillageDifficult2533 21h ago
mine was earlier this week, i did not enroll in anything. im going to wait