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have a few student loans and applied for income based repayment. the department of education site where i applied said it could not link my tax return the the application and that i would have to send it in......fast forward 3 weeks later and i go to make a payment to sallie mae and it says no payment due...what gives i am confused
There are a few possibilities:
- Your loans are in a deferment/forbearance, either to allow the processing of your IBR application or because you have another one active (you get 6 months after graduating, for example).
- Your IBR came through and your expected payment amount is $0, but this is highly unlikely unless you currently have very low or no income.
- You are paid ahead on your loan and another payment is not due for a while.
Log in to Sallie Mae and see what you can find about the status of your loan and next payment due date and amount. If you can't find anything that makes sense, time to make a phone call to be sure you know the status of your loans.
@SCF wrote:There are a few possibilities:
- Your loans are in a deferment/forbearance, either to allow the processing of your IBR application or because you have another one active (you get 6 months after graduating, for example).
- Your IBR came through and your expected payment amount is $0, but this is highly unlikely unless you currently have very low or no income.
- You are paid ahead on your loan and another payment is not due for a while.
Log in to Sallie Mae and see what you can find about the status of your loan and next payment due date and amount. If you can't find anything that makes sense, time to make a phone call to be sure you know the status of your loans.
it says nothing about forebearance which is what concerned me! it just simply says no payment due income is around 31k for a family of 4