Sallie Mae Forbearance Request?

Q: I had trouble making payments on my student loan and have missed a few months payments..so I requested a forbearance. A forbearance allows me more time to pay correct? So, why does my Trans Union credit report still show all of my past delinquent dates?

A: This is a common misunderstanding in student loan lending.

A forbearance is prospective, not retrospective. It only postpones payments from the date of the forbearance until the date it ends. It does not go back to your prior missed payments

After numerous pleas for Sallie Mae to send me what I needed to file for forbearance (between October 2008 until March 2009) Sallie Mae employees ...

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Sallie Mae alters student loan policy

Sallie Mae, the nation’s largest private student-loan provider, recently changed its policy on forbearance fees in reaction to a viral online petition.

Prior to the change, the lending giant charged a “good faith deposit” of $50 per loan for every three-month block. It was the only way students could avoid defaulting.

The new regulations do not require graduates to pay the fees immediately, but they are instead applied to the remaining balance once payments are resumed.

Patricia Christel, a Sallie Mae spokeswoman, told The New York Times, “We have been giving careful consideration to our policy for some time, and we are changing it to apply the good-faith payment to the customers’ balance after they resume a track record of on-time payments.”

The change is largely credited to an online petition made by Hunter College graduate Stef Gray.

Upon graduation, Gray had three separate loan payments from Sallie Mae in addition to $300 in forbearance fees because she used her grace period in between undergraduate and graduate school.

Living in the Land of Little Rain, part 2

I finally started working on the financial aid applications for Tessy's medical bills. For some unexplained reason our portion of her hospital bills so far is almost $8,000.00. That's about $2,000 more than out expected "yearly out of pocket maximum" for our health insurance plan, and well over what we can pay upfront if we cash out our IRA. We were converted Catholics who used the "four year grace window" to scrambled to find a sane work/life balance for our new family. In four years we had 3 more pregnancies, we moved 4 times to 4 separate states, we started a new business, we lost a business, and finally found my artistic husband a steady job in Washington D.C. that almost supports a family of six. After my miscarriage, I started to realize that God wanted me to be a stay-at-home mother full-time and forever. I got really scared. There was a period of about 18 months in my early Carmelite journey when I had this note on my prayer alter; "Jesus if you want me to be a full-time servant