Direct Loan Starting Repayment, Switched Repayment Plan Problem

Dec 032010
 

So my direct loan is going into repayment in a week and I switch my repayment plan from standard to graduated to make my payments a little lower for the moment as I dont make as much money now as I will in the future.

 

The problem is that the amount due for this first month is still the amount due for the standard repayment plan even though elsewhere on the same page it says the new “graduated” repayment plan payment amount. Im assuming this will fix itself or do I have to make the first payment as the standard repayment amount for this particular payment and then from then on it will switch over to the new graduated repayment plan amount?

 

Any info, thanks.

Trying to enter Student Loan Rehab, but not sure I am really entering Rehab program

Mar 092010
 

hi,

 

I’ve been lurking for a long time, but now I need help that I can’t seem to find my lurking only.

 

My 2 student loans went into default on 5/13/2007.  Yesterday I sent an e-mail to the company I believe is the guarantor, American Student Assistance, (ASA) asking about their rehab program.  This morning I received a response from the Borrower Advocate, stating I should call the main number and use option 1.

 

After an hour or so of debating my next stepsI called and spoke to a gentleman.  He was not very helpful, but not horrible eitherthank goodnes.  I asked to get into the rehab program and he told me I cannot be accepted into rehab until I make 9 payments on time, and asked when can I make the first payment. He asked for $100 per month, but since I have not worked since Oct 2008 I told him I could not pay that much monthly right now.  He agreed to $75 per month, I told him I would send a money order when I receive something from ASA.  He told me he would send me a statement today, but I would not get anything about rehad until after the 9th payment is received.

 

This just seems a little odd.  Shouldn’t I receive some paperwork stating the terms of rehab first? 

 

Without this forum I would never have known about rehab, and I would still be afraid everytime the phone rings.  Thanks so much for helping me get this far.

 

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