wishful thinking about those never-to-be-forgiven 90 day lates?

[Ellifino]

Like so many of us, I have a ginormous amount of 90 day lates on my student loans (one for each semester!!) which I have given up on ever having removed before that magical 7 year moment.  But the verbiage in some of these articles gives me hope? Maybe?

https://www.cnbc.com/2022/04/11/millions-of-student-loan-borrowers-in-default-are-getting-a-fresh-st...

From the Education Department:  "borrowers will be granted a ”‘fresh start’ on repayment by eliminating the impact of delinquency and default".

Do you think that that might mean *all* 90 day lates?  Maybe?

Doesn't sound like anyone knows the deets yet, but a girl can dream, right?

[dragontears]

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@Ellifino wrote:

Like so many of us, I have a ginormous amount of 90 day lates on my student loans (one for each semester!!) which I have given up on ever having removed before that magical 7 year moment.  But the verbiage in some of these articles gives me hope? Maybe?

https://www.cnbc.com/2022/04/11/millions-of-student-loan-borrowers-in-default-are-getting-a-fresh-st...

From the Education Department:  "borrowers will be granted a ”‘fresh start’ on repayment by eliminating the impact of delinquency and default".

Do you think that that might mean *all* 90 day lates?  Maybe?

Doesn't sound like anyone knows the deets yet, but a girl can dream, right?

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You can dream but don't hold your breath, default doesn't mean lates.. ..

[Ellifino]

But delinquencies *do* mean lates, and they explicitly mention delinquencies...

[calyx]

Concur on the wishful thinking.  
They'd actually need to alter the HEA to make those lates go away, and bringing current is definitely not the same as removing lates.

[pizzadude]

I think we may have to wait and see on this -- the announcement has the wording below, but from a credit reporting perspective I don't know how this will be implemented as the details haven't been made clear yet:

"This includes allowing all borrowers with paused loans to receive a “fresh start” on repayment by eliminating the impact of delinquency and default and allowing them to reenter repayment in good standing"

[lns1976]

They did this for me 6 or 7 years ago on "Defaulted" student loans that I rehabbed in order to fix my credit and give me the option of returning to college if I choose.

Upon completion of the rehabilitation of my loans all the old loans were wiped from my report and replaced with the same loans, but all good payment history on an IBR repayment plan.

I didn't have "some lates", I hadn't made a payment in 4 or 5 years when I entered rehab on my loans.  They were fully in default so this is not the same thing as a late payment.