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Posts: 731
Registered: ‎08-12-2011
DoE Loans Transferred To Avoid 120 Consecutive Payments?

Isn't the "120 consecutive payments == loan balance forgiveness" in effect now? Although I've heard of this loan forgiveness act or law, I've never really verified that it was real. Anyway, I was just looking at my new loans accounts at MOHELA since my loans have transferred to another servicer yet again. Well, last month my loans were paid well into the future; they may have even had a due date nearly a year in the future. Now that MOHELA is now servicing the accounts, they list no payments and also do not list any future due date. Payments start this month (auto drawn on the 7th actually.) This just got me thinking - now that the DoE loans are at a new place, i'll basically be starting at payment zero. I will be starting all over again on the 120 days. Anyone else think this is true?