@pizza1 wrote:So, my Fedloan SL went to Mohela, and its completed. Fedloan shows closed, and Mohela open. I recently got an offical letter from them stating my new "terms". The terms were my monthly payment was increasing by about $40, and they automatically put me on a different program than I was on with Fedloan, and now my payment increases every two years.
After the first 2-year term, my payment jumps much more considerably every two years after that. I wasnt on this type of program with Fedloan. Not too happy about them just placing me in a program they feel I should be in. I will be placing a call to them.
Weird. I thought the terms of our loans were supposed to stay the same. 🤔
@pizza1 wrote:
@Adkins wrote:
@pizza1 wrote:So, my Fedloan SL went to Mohela, and its completed. Fedloan shows closed, and Mohela open. I recently got an offical letter from them stating my new "terms". The terms were my monthly payment was increasing by about $40, and they automatically put me on a different program than I was on with Fedloan, and now my payment increases every two years.
After the first 2-year term, my payment jumps much more considerably every two years after that. I wasnt on this type of program with Fedloan. Not too happy about them just placing me in a program they feel I should be in. I will be placing a call to them.
Weird. I thought the terms of our loans were supposed to stay the same. 🤔
thats what I thought as well! Im not happy about that! I decided to send an email instead so I have a paper trail of conversations. Ill update when I get an answer.
👍👍
Was it maybe because of a deferment or something and they're trying to keep you on a certain schedule by having these increases in there?
The main terms shouldn't change at all and you should be able to get back on the same payment plan as before (at least if it was income based). But it's possible the increases are based on changes in your income since the last time Fedloan recalculated? By that I mean maybe they took into account a more recent income certification that Fedloan hadn't processed yet since it wasn't required? I know my Greatlakes shows a huge increase in the forecast everytime, but that's assuming I don't recertify.
as of 1/1/23
Please let us know as I am a bit worried about this myself. I am interested and worried to see where my loans go after Fedloan. Fedloan has been good to me. I've had Navient and Nelnet over the years.
I kept making my payment throughout Covid and with it restarting in May, I am a bit worried about my payment changing.
Also, I put in for PSLF again as I did years ago and was denied the first time as I would not make triple the monthly payment.
My DW loans are finally under GreatLakes after many years of garnishment. I finally got them all consolidated into one. Awaiting them to set a payment.
School loans should not be this complicated.
My FedLoans have still not notified me where they're going.
Mildly scared about the complete lack of hints for mine so far. Player Two's already moved from FedLoan.
Sock - 
Chopping Block - 
Debit Cards - 
This is going to suck. I actually liked FedLoan they had always worked with me.
You may have already heard that FedLoan Servicing will no longer service your Public Service Loan Forgiveness (PSLF) eligible loan(s).
Beginning in early July and continuing throughout the summer we'll be working to transfer your loans to MOHELA.
This transfer will not affect your loan's existing
| • | terms, |
| • | conditions, |
| • | interest rates, |
| • | PSLF progress/eligibility, or |
| • | available repayment plans. |
This change does not impact the COVID-19 emergency payment pause and 0% interest period.
