The on-ramp would make sense in your situation, Brenda.

I’d also note that the servicers work for the Department of Education, not the other way around. The servicer will tell you that you have a balance due, but they shouldn’t report the missed payment per the on-ramp guidelines from the Department of Education.

My biggest concern is that apparently it was only an announcement and there is nothing that legally is telling the servicers they have to do this. That’s what my servicer is telling me. However, the student loan help organizations tell me that the servicers must comply. So which is it?

I’m a low original balance borrower with more than enough bona-fide payments already made, not including the IDR adjustment and the months that will come from that plus Covid, so I should be done when SAVE goes into full effect July 2024. That means that right now I really technically don’t owe anything. I would just be tying up money to get returned who knows when. And that’s if you trust the servicer to do it right.

I guess we’ll see. I can’t make the SAVE payments anyway, so it’s moot. I could pay half, which is what the July 2024 would be but even that should be moot. I’ll probably have to pay a few while they process the forgiveness but until then, no one is getting a payment from me.