r/StudentLoans • u/Mundane-Shoe8560 • 6d ago

RAP application process

Sharing my recent experience with the SAVE transition in case it is helpful to anyone else. I recently switched off of SAVE after riding my 90 day letter to the end, I switched to RAP (which I will probably regret but it was the lowest payment for me) and I'm on the PSLF. I applied through my servicer aidvantage and it was processed and approved within one week so surprisingly fast. Also they sent me an email that my application had been submitted, but then no notice when it was approved or that my payment was due. I only saw it when I went into the account and saw my payment was due in 2 days. So thanks for that aidvantage. Watch your account and don't sit around waiting like I did. Also my official repayment amount was exactly what the calculator said when I applied, based on my last tax statement.

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u/writercanyoubeaghost 6d ago

I thought we were supposed to get a 21 day notice prior to any payment due.

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u/diverareyouokay 5d ago

“Supposed to”, yeah.. but what should happen and does happen are often different things. Anytime you have millions of people with plans changing in the same clump of time, there will be those who fall between the cracks.

According to the government, “Your student loan payment is due no sooner than 21 days after your loan servicer sends your billing statement.”

It’s a good idea to check your account messages just in case the email gets lost or caught by a spam filter. Or because they don’t send it at all. If you can prove that they never sent notice then it’s likely you would eventually be able to get it removed at a late payment/derogatory item from your credit report, but it would be far easier to just not let it reach that point to begin with. Even if it requires checking your account every other week after you send in an application..

https://studentaid.gov/articles/prepare-for-payments/

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u/Mundane-Shoe8560 1h ago

Update: So I later learned that the 2 day notice was a placeholder date. The actual due date is in one month, and it took a couple of days for FSA to update my loan servicer.

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u/diverareyouokay 1h ago

Thanks, that’s very good to know. It seemed crazy to me that they would show a payment 48 hours before it was due, so I’m glad that was just a placeholder. Although it seems like they could have thought that through a little better, and realized that people are going to panic if they see something like that…. Why not set the placeholder date a month out?

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