I am SO frustrated! Having a $74,000 student loan debt hanging over your head sucks, but having the company that holds it over your head be completely inadequate and useless REALLY sucks. Especially when it's a company run by the U.S. government.
Direct Loans has been processing my income-based repayment paperwork for seven months. Meanwhile, they've been sending me bills each month that say I owe $800 each month. When I called them in March to check the status of my paperwork, they said to just send new income documentation. So I did. I kept checking back on my online account, and nothing changed, so I called them today (since my next $800 payment is due on Monday). Apparently, they never received my second set of paperwork.
They have records of my first set of paperwork. They can all see the paperwork. But those never got processed and never will be. They have no record of my second set of paperwork. So what can I do? I asked in frustration. I can send the paperwork again.
I can send my vulnerable, financial details (complete with social security number and date of birth), again. So that they can either a) say they never received it, or b) acknowledge that they've received it, but fail to process it even six months later.
Hm, yes, let me send it straight over.
Yikes, I had a very similar experience. After months of "processing" they eventually got their act together, but then took over $1200 out of my checking account, with no warning. SO I called them from Tanzania, having a complete meltdown over the phone, complete with swearing, yelling, sobbing hysterically, apologizing for my unreasonable outburst and expounding (with hiccups and more than a tinge of desperation) on how I am broke, in Africa, busy saving the world, have barely enough money for food and a plane ticket home, and have no time for coping with bureaucratic excuses for why they just took 10% of my annual salary out of my bank account. Somehow it worked! They took pity on me, decided to actually do their job, (or at least ask their supervisor about how to do their job) and "work something out." They made no promises, but they eventually gave me my money back... 6 months later. The long and short of it is, when they do FINALLY process your paperwork and get you on IBR, if you have been in "deferment" status, which I suspect you have been, they will charge you for the accrued interest for the WHOLE TIME you were in deferment... all at once. So look out for this. Make sure they know you can't afford to pay this lump sum, that it isn't fair since it is due to their mistake that you were ever on deferment in the first place, and that forcing you to pay all that money will RUIN YOUR LIFE! I'm sure they will then "work something out" for you too!;) Good luck!!!
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