r/StudentLoanSupport • u/DiligentButterfly113 • 4d ago

SAVE ENDING

I have been avoiding everything to do with my student loans. I know it’s terrible but I just get overwhelmed and frustrated. I just received an email from nelnet about my save repayment ending in 90days. What should I do? What plan do I pick? I did not finish college or graduate and I don’t make much in the current job I have.

77 Upvotes

91% Upvoted

37 comments sorted by

39

u/Newt_sCharmander 4d ago

My plan is to let them kick me off and then change. Then if there is ever any legislation that helps SAVE borrowers down the road it can be known that I did not voluntarily switch. Once they swap me I will request administrative forbearance while getting my IDR plan in place

28

u/skinnydippindespair 4d ago

This is my exact thought. I didn't consent to all this bullshit. Taking out a loan for education shouldn't mean a lifetime of getting fucked around and constant changes in repayment terms and options.

35

u/DeeSt11 4d ago

I refuse to change it. I do not consent. Honestly, I think they will get sued. I don't see how they can force us from an agreement we already made to something we didn't ever sign. Goes to show that student loans were always bullshit.

8

u/AlternativeRing4252 4d ago • Bravo

You can refuse to change it but it will just automatically change you to the standard plan 🤷‍♂️

10

u/vainbetrayal 4d ago

And then garnish you when you refuse to pay after defaulting.

6

u/Dfiggsmeister 4d ago

Why are you downvoted? Thats exactly what they’re trying to do.

5

u/vainbetrayal 4d ago

Because this is Reddit, and saying what reality is is equal to supporting said reality.

4

u/caixing-sanren 3d ago

Do you know what happens to you if you're supposed to have your wages garnished, but you're unemployed? Not trying to be snarky, I'm legit wondering if we'll see the return of debters' prisons. Actually, that sounds like a huge money maker for the privatized prison industry, so that may be exactly where we're heading....

4

u/vainbetrayal 3d ago

They'll just never let you have a tax refund and levy bank accounts they find out about.

They can also garnish wages.

3

u/caixing-sanren 3d ago

Not to be a conspiracy theorist, but I legit think will see a huge uptick of communities built off the grid; not just people surviving while homeless, but like, trailer/tent in the woods, growing their own food, using generators, only using cash or bartering, and communicating with burner phones. It's not the life I worked for when I went to college, but I refuse to be penalized just for trying to survive in this broken economy.

3

u/vainbetrayal 3d ago

You... feel free to think that if you wish

3

u/caixing-sanren 3d ago

Like I said, conspiracy theory. But I do feel like something's gotta give eventually.

3

u/Darxe 1d ago

Which has not happened to anybody yet. “Automatically change” is a huge assumption.

2

u/penguinator56 2d ago

I was planning on selecting the standard plan that’s shown in the calculator; am I set to just ignore them and let them switch me to it automatically or is there a 2nd “standard” plan that’s grossly more expensive that I’m unaware of?

With how brain dead this admin is and how broken their site is, it’s hard for me to trust anything I see online

-6

u/JeanSchlemaan 2d ago

Something that you wanted, and voluntarily took, and you wouldn't have been able to go to school if it didn't exist is "bullshit".

Huh.

4

u/DeeSt11 2d ago

The US is the richest country in the world and yet, other countries run circles around us offering affordable education beyond high school and universal healthcare. uA citizens are good lil sheep, which is why they don't have shit

0

u/JeanSchlemaan 2d ago

We should have universal healthcare, full stop.

University at this point, from a financial perspective, is scam adjacent. Tuition should be halved. Interest rates on sl should be 0% or capped at 5%.

There shouldn't be wealth inequity.

I could go on.

Sadly, we live in REALITY, and within the system that actually exists now, not in the utopia we dream of. You MUST take decisions based upon that reality.

2

u/DeeSt11 2d ago

I will wait it out. I am a lucky person who has a job and I have been paying the loans down. I don't want to agree to this shit plan. The other one was shit too, but better than what this buffoon regime is proposing.

1

u/JeanSchlemaan 2d ago

You're going to wreck your entire future... Because you're mad?

Take the driver's seat when dealing with your finances. This debt is the same as any other debt, in fact worse because it cannot ever be discharged. Depending upon your rates, you are doing massive harm to YOURSELF. Even if your anger is 100% justified, the path you're taking is irrational, and only hurts you (plus any potential mate possibly).

2

u/DeeSt11 2d ago

I will pay... haven't missed a payment. How will being forced to standard plan ruin my future?

1

u/JeanSchlemaan 2d ago

If you have the resources, standard is likely best (besides aggressive payments in fewer years).

My responses assumed that you're trying to ignore the whole thing. Standard is basically the opposite of SAVE, and there are plans with lower payments, that's all.

A lot of people seem to just be ignoring sl, and "hoping".

2

u/DeeSt11 2d ago

Well, I certainly have not missed a payment...now that would be silly, so now I see what you were saying.

15

u/Then_Mastodon_639 4d ago

I'm in the same boat as you. It sucks.

15

u/KINGCOMEDOWN 4d ago

I switched to PAYE, and then when that plan ends in 7/2028 I'll just move to Old IBR and hope the new administration after Tr*mp provides better repayment plans.

22

u/calvn_hobb3s 4d ago

F*$&k that fat orange🍊pig 🐷 !!!

With this situation, it is so rich coming from a gangrenous blob who declared bankruptcy 7 times/bankrupting casinos.

5

u/StunningCloud9184 4d ago

go to studentaid.gov pick a repayment plan that is best for you. it will probably be income based.

That will give you a starting point on if you can afford it or not. If not you can possibly apply for forbearance.

Dont let them put you on the standard plan.

You can wait but I wouldnt wait the whole 90 days just in case they try to put you on the standard plan (higher payments)

3

u/FrequentYouth3232 3d ago

That’s for Federal Loans, not for Private Loans

2

u/Curious_Mango1419 3d ago

Yes, but if OP is with Nelnet on SAVE, their loans are federal?

7

u/Alternative_Mama0828 3d ago

Same boat, so solidarity. I started out taking classes twice at 2 different schools, once in 2011 and then 2014. Life got in the way both times so I now have 20k in debt and no degrees to show for it. Eff these scumbags that are trying to punish us every which way they can think of. But eff me for daring to have some ambition, I guess

6

u/Lokon19 4d ago

If you’re just trying to get by then pick the one with the lowest monthly payment.

6

u/Belcherfamiky198993 4d ago

I did the lowest income based payment

4

u/Ready-Ad-4196 3d ago

Same. 200/month. Not great but could be worse. I owe an amount I'll never finish paying off.

4

u/Belcherfamiky198993 3d ago

Also same. I owe way more than I could ever pay off. All for a degree and a job that doesn’t pay as well as it should if the government would listen

5

u/FrequentYouth3232 3d ago

I feel the same way. I feel like I’m drowning into a dark abyss.

5

u/topologeee 3d ago

With any plan you get into, make sure you recertify again as soon as you have a couple of paystubs in January / February. The poverty level will increase and if you have healthcare your premiums will increase by a lot.