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Does anyone know what REBATE means on Fedloan Servicing Page

Started by Piggy68, December 01, 2021, 08:57:21 am

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Piggy68

I'm currently in the process of the review for PSLF waiver.  I've been public servant for 20 years and have been paying student loans on time since 2008.  Under the section "BENEFITS" it says "disqualified as of 10/26/14".  I don't know what this means and I've been on hold for an entire day trying to reach a customer service rep from Fedloan servicing.  I'm trying to figure out if that is some information separate from the PSLF review or if I've already been denied.  Is anyone familiar with this Benefits section? 

I've read that PSLF review can take up to 90 days. I just got my letter that Fedloan has taken over my account on 11/30/21.

TheCollegeInvestor

Did you already apply for PSLF under the waiver with 120 payments certified of qualifying employment? If so, it does take time and they're working through it.

Piggy68

Yes, here is the timeline for me....

10/6/21 - Sent Fed Ex PSLF Application form
10/28/21 - Received letter from US Dept. of Ed that my application and employment verification has been reviewed and verified.
11/1/21 - Received letter stating my loans would be transferred from my current servicer to new servicer Fedloan Servicing
11/16/21 - Received letter stating that Fedloan Servicing is now my Servicer and that they are reviewing my status for PSLF
11/30/21 - Logged into Fedloan Servicing account and saw section regarding "BENEFITS" REBATE disqualified as of 10/26/2014..??
12/1/21 - Received letter stating that my account is being reviewed for "Qualifying payments"...they state in the letter that it could take up to 90 days for full review.
(My situation is a No-brainer. I've been public service for 20 years and have been paying my student loans since 2008. I probably met the 120 payments threshold back in 2019/2020.

***My question is "what was I disqualified for under the Benefits--REBATE section???" Is this separate from the loan forgiveness section.

TheCollegeInvestor

I'm guessing it's your interest rate rebate. Did you change from electronic debit around that date?

Piggy68

I've always had electronic rebate.  The only thing of significance I can remember from 2014 is that I asked for a brief hardship forbearance because my husband lost his job. But I can't find anything to support that theory.