topic Re: Student loan in forbearance now showing as open in Student Loans

Student loan in forbearance now showing as open

cr101 — Wed, 20 May 2020 08:36:04 GMT

today, i noticed that my student loan account is now showing in my 'open' accounts. the balance is also now included, which...is a lot. however, my score has not changed. i refresh it on exp daily. just concerned how creditors will see this.

previously, this account has always been in the 'closed' accounts in the student loan section and it had been classified as closed, paid with a notation of 'forebearance' or 'deferred'. the total was never included in my debt balances. this was only on exp. it shows as open on tu. i could have sworn that it showed deferred/forbearance, but today, it shows 'current'. i never really check eq.

before the cares act, how were deferred loans supposed to appear. and, do you know how they're supposed to appear now?

Re: Student loan in forbearance now showing as open

CreditobsessedinFL — Thu, 21 May 2020 06:13:49 GMT

@cr101 wrote:
today, i noticed that my student loan account is now showing in my 'open' accounts. the balance is also now included, which...is a lot. however, my score has not changed. i refresh it on exp daily. just concerned how creditors will see this.

previously, this account has always been in the 'closed' accounts in the student loan section and it had been classified as closed, paid with a notation of 'forebearance' or 'deferred'. the total was never included in my debt balances. this was only on exp. it shows as open on tu. i could have sworn that it showed deferred/forbearance, but today, it shows 'current'. i never really check eq.

before the cares act, how were deferred loans supposed to appear. and, do you know how they're supposed to appear now?

Hi @cr101 ,

I just checked mine in EX, which @Birdman7 says is the most accurate and up to date of the CRA apps. They show closed and current, and they are deferred like yours, for now. Mine are Parent Plus loans. I spoke to the service rep this week and forbearance with the CARES ACT will take them into September and she said the status should remain "current", but I would keep a watchful eye. Mine are due to leave deferment status in June, so I will be watching also, JIC.

Re: Student loan in forbearance now showing as open

calyx — Thu, 28 May 2020 16:25:49 GMT

Deferred loans should be showing as open, but deferred - they're definitely not closed, but servicers tend to mix up how they report things.

Re: Student loan in forbearance now showing as open

cr101 — Thu, 28 May 2020 20:07:12 GMT

@calyx wrote:
Deferred loans should be showing as open, but deferred - they're definitely not closed, but servicers tend to mix up how they report things.

thanks. guess i was lucky that they initially miscoded. thanks, covid, for bringing this to their attn!