Courtney Webb

Okay, long story and I will try to shorten it. In 2002, after a great deal of upheaval in my industry, (insurance) where I had worked for many years as an outside field adjuster, I decided that it was probably time to retrain before my job disappeared. Which it did just a few years later.

With that thought in mind and also having dreamed for many years of becoming a counselor, I went back to school. I was basically forced out of my job as an adjuster and quit my lovely company and went back to school full-time to complete my master’s degree. I graduated in 2005 and had to start paying back my FAFSA loans. I did that and worked as a substitute teacher for two years. I then decided that I and the kid could not live on those wages and went back to work in insurance again.

I worked for another big company for two years. The cost of living and the politics was all too much for me; I jumped ship and went for a higher paying job. That job that lasted exactly three months, and I found myself out on my ear. The year was 2008 and all the extra teaching jobs (and insurance jobs) had dried up like snow in June.

Feeling divine guidance (or craziness) I went back to school again to become a teacher. (What you say, another degree!!! In my defense, all the degree have gotten me jobs.) That program lasted one year at which time I could find no paying teaching jobs, and I fled overseas to teach there. After six and a half years I decided to come back but knew my current master’s would not work and returned to school the third time. (What!!!!!!!) Yes, I did and graduated again in 2017 whereupon I had to start paying back my (considerable) student loans.

I had faithfully made my monthly payments and continued to do so. Given my income and so forth, the Dept of Ed had always been very reasonable in my payment terms. That combined with continual promises and reassurances that I would pay for “twenty years” and the balance would be forgiven.

Now we come to present day. Before leaving office, Joe Biden attempted very hard to push through bills that would render all types of forgiveness to student borrowers who, by the way, count in the millions. When he left office, Trump came in and promptly swept away all the attempts at forgiveness and has been busy shaking up the Dept of Ed., which he thinks should be abolished anyway.

So now, new rules are in place and they replace many old rules. First, the promise of ‘’twenty years and you are done” was first replaced with “twenty five years…” This was replaced by xyz years of “qualified payments” and Dept of Ed determines what constitutes a qualified payment. Then came out the dreaded letters that all repayment plans had to be recertified and the new payment programs would start effective July 2026.

I am simply skipping over the mountain of rules that determine a person’s repayment amount; too confusing to relate. I spoke to a couple of agents at Nelnet, my loan service company and was advised to “recertify by the due date! And your payments will probably be about $233 per month (had been $86 for several years.) This seemed reasonable.

Imagine my surprise and shock when I got the notice from Nelnet indicating that my new payment amount would be $1041 per month, payable starting in July. I tried hard not to swallow my tongue and talked this over with several people.

Doing what I had been taught to do in several of my financial groups; I created a debit/credit sheet and sent it to Nelnet with a clear and unambiguous message “I cannot pay this amount each month.”

A couple of weeks later, I received another message from one of The Team at Nelnet. The email indicated that there may have been and error in my payment calculation and to resubmit another loan form, this time in paper. I did that, filled out the form, attached another copy of my debit and credit statement and send it off to Nelnet, indicating yet again that I could not pay the $1040 per month. I sent it Return Receipt Requested.

I waited for about a week for Nelnet to receive my letter. Then I settled myself down at my desk, pulled out all my paperwork and made ready for a long phone call and called Nelnet. Another member of The Team (first names only, no last names, no phone number and no email contact info,) answered the phone. I asked for a person who had a first and last name, phone number and email address. After a long moment the rep said “I’ll send you to an account manager.” (Didn’t know they had account managers.) A lady came on the phone. She would only ID herself with first name and no other information; whatever. We had a long conversation, yes she had received my paperwork. There had been a mistake in my loan calculation as I had been put on the “10 year repayment plan.” This was without either asking me or advising me about this decision.

After much typing on her computer keys, ‘Janet’ was able to recalculate my loan to a mere $433 per month. I told her that $433 was much better than$1040 but I still could not pay it as I owe too many people. There was a long and significant pause. Finally, ‘Janet’ said that there was a new program, just approved that I might qualify for. The RAP program would lower my interest rate by 1% if I paid on time. I asked Janet the amount per month. She indicated it would be $220 per month. I said, “Ah, I think I can do that!”

Janet sent me the link to the new program and I filled it out. Once the form was filled out a little window popped up and indicated that my new payout for the loans would be $16,500 less that what I currently owed. Wow! Where did all that come from???? Don’t care, I’ll take it. Whew!

So, a new era begins for me and mostly because I a) kept up my payments and communications with the service provider and b) I just kept telling them the amount I could afford and no more.

Millions of student borrowers are currently receiving these letters from the New Order at the Dept of Ed. Hopefully, before any of them jump out the window, I hope they read this article and start negotiation with their Service providers. Lastly, politics, politics. Everything that Joe Biden tried to put into place, Donald Trump overturned. This little wrinkle in the student loan repayment programs is clearly a move by some Congressional committee to go around Trump and give students some breathing room. Additionally, another change that just happened.

I am currently a college, contract teacher and not full-time. Always before, to be able to qualify for the Public Service Forgiveness program, everyone had to be full-time teachers. The ‘rule’ has recently been amended to make contract teachers who teach 9 units per semester to be called ‘full time teachers’ and thereby qualified for this program. I have filled out yet another application and await to hear the decision on this. If approved; my loans will conclude in 3 years and hopefully a lot sooner than when I turn ninety. Yeah!  Anyway, over and out, and I hope my experience can help the next student borrower!

CEW 7/26