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My question is if In School Deferment extends IBR

Hello,My question is if...

Hello,My question is if In School Deferment extends IBR forgiveness eligibilityI have student loan under IBR Income Based Repayment plan that says my loan may be eligible for forgiveness after 25 years of qualifying payments if I still have outstanding balance on that loan.
I enrolled in IBR in 2014 and made only 7 payment because I went to Graduate School from 2014 to June 2018. I just graduated. During that time, I was not making any payments since my loan was in "in school loan deferment."My question is: since I wasn't making any payments during that time due to in school deferment, is my loan forgiveness eligibility still 25 years since 2014 or it is 25 years from now July 2018 since I wasn't making any payments due to school deferment from 2014 to 2018.Thank you,Maciej Wiater

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That would be all, thank you

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Answered in 28 minutes by:
7/10/2018
Sarah
Sarah, Teacher
Category: General
Satisfied Customers: 280
Experience: Bachelor of Arts in Education/English, Masters in Education
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Good morning and welcome to justanswer.com. I would be happy to help you with your question today. I believe that your period of in school deferment does not extend your 25 years of repayment, meaning that your payments would go through 2039 and then any outstanding balance will be forgiven. However, on the federal aid website they are not particularly clear on this issue. They do mention that economic hardship deferment would not extend the 25 years, as well as periods of time when your required payment is 0, but I it is not clear if they are referring to the payment being 0 because you cannot afford to make a payment (based on income) or if the payment is 0 because you are in some sort of other deferment, such as in school deferment. Here is the link to the page with this information so you can look it over youself: https://studentaid.ed.gov/sa/repay-loans/understand/plans/income-driven

If you scroll down to the second chart and read the information below it, you'll see what I am referring to. Since this information does not specifically mention your type of deferment, I would suggest calling your loan servicer and asking them about your specific loan. This page has the phone numbers for all major student loan servicers (just scroll down until you see the chart of loan servicers): https://studentaid.ed.gov/sa/repay-loans/understand/servicers#my-servicer

I hope this information is helpful to you. It is always my priority to provide excellent customer service. If you need anything further, please let me know and I would be happy to help. If not, please take a moment to provide a rating for my service using the stars in the message. This allows me to be compensated by justanswer.com and also marks this request as closed. However, you can always reply back to me on this thread if needed, even after providing a rating. Thank you so much. Have a wonderful day! Sarah

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Customer reply replied 12 days ago
Thank you. I found the same info online regarding qualified payments but there is no mention as to whether a non payment due to in school deferment counts towards qualified payment or not. Still, thank you very much

You're welcome. I would suggest calling your servicer. I have student loans also and have had to call several times over the years for clarification on different issues. All of the servicers I have dealt with have been very helpful. Hopefully they will be able to answer your question for you. Please remember to provide a rating for my service today so that this question will be marked as closed. Thank you. Sarah

Sarah
Sarah, Teacher
Category: General
Satisfied Customers: 280
Experience: Bachelor of Arts in Education/English, Masters in Education
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