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  1. #1
    From NJ is offline Member 510 points
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    Best Way to Postpone Sallie Mae Loans?

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    I have undergraduate and some of the graduate loans with Sallie mae. Last year I was able to defer using Economic Hardship Deferment. This year the law and rules have changed. The requestor must be a full-time employee with low income. I am a 3rd year med student. It is my understanding that Economic hardship is the best option because fed govt pays interest on subsidized loans.

    I have submitted Income-Based Repayment Plan (it is new option) and I have not yet heard from them. I have talked with them 2 or 3 times and I think they answer from India and are not clear as to the new requirements and conditions.

    The last option appears to be Forbearance and it is my understanding that this is the least desirable of the above two.

    If any of you have dealt with this issue lately, I would appreciate your input. Additional information would help me resolve the postponement issue. I will call them again in a few days to finalize the option that I will be eligible to take.

    I appreciate your input.

  2. #2
    Alenka00 is offline Junior Member 512 points
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    Quote Originally Posted by From NJ View Post
    I have undergraduate and some of the graduate loans with Sallie mae. Last year I was able to defer using Economic Hardship Deferment. This year the law and rules have changed. The requestor must be a full-time employee with low income. I am a 3rd year med student. It is my understanding that Economic hardship is the best option because fed govt pays interest on subsidized loans.

    I have submitted Income-Based Repayment Plan (it is new option) and I have not yet heard from them. I have talked with them 2 or 3 times and I think they answer from India and are not clear as to the new requirements and conditions.

    The last option appears to be Forbearance and it is my understanding that this is the least desirable of the above two.

    If any of you have dealt with this issue lately, I would appreciate your input. Additional information would help me resolve the postponement issue. I will call them again in a few days to finalize the option that I will be eligible to take.

    I appreciate your input.
    PSU online MBA programme will postpone all your Sallie Mae loans.
    Last edited by Alenka00; 02-15-2010 at 02:52 PM.
    PGY-1

  3. #3
    HinduDoc is offline Member 519 points
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    i put my loans into forebearance, from what i was told multiple times, is that it doesn't have any negative effect on you (credit wise or anything) and that the interest just keeps adding up

    at least this way you dont have to pay anything for a while, even though u might have to pay a little more later

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