The Student Loan Debt Forum | The College Investor

Student Loans => Ask a Question => Topic started by: rnpetty on August 22, 2018, 11:01:58 am

Title: Purchase of loan restarting clock?
Post by: rnpetty on August 22, 2018, 11:01:58 am
Navient bought my loan in 2006 from another federal loan servicer and is now telling me the six years I paid before they bought my loan do not count as years of payment. Is this correct?
Title: Re: Purchase of loan restarting clock?
Post by: TheCollegeInvestor on August 22, 2018, 11:06:13 am
Do not count as year of payment towards what? They count as payments towards the loan, but are you looking for something else?
Title: Re: Purchase of loan restarting clock?
Post by: rnpetty on August 22, 2018, 11:20:14 am
They told me I have nine years and two months left to pay on my loan since I have to pay 20 years. My first payment was 3/14/2000. Navient bought the loan in 2006 and called that a new disbursement on 5/24/2006. However, I had no control over that. I believe NelNet sold my loan to Navient. Actually, I'm still unclear where the nine years two months is coming from unless they meant 25 years but told me 20? I have been paying on an IBR plan for 5 years.
Title: Re: Purchase of loan restarting clock?
Post by: TheCollegeInvestor on August 22, 2018, 11:48:43 am
Your loan forgiveness under IBR starts when you started IBR (so 5 years down, 20 to go).