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I have an old (pre-98) student loan that was transferred to Erudio way back. I am applying to renew my deferment, and they replied asking for more details.
A section of their letter worries me (the second paragraph with the heading ‘Your Deferment term.’
”Your Deferment Application:
You have 60 days from today's date to provide the additional evidence required to complete your submission. If you do not submit the missing information within this timeframe, your deferment application will expire.
Your Deferment Term:
Should your current deferment term expire before your required additional information be processed, your first payment may not be collected but will count as arrears on your loan(s). If your application to defer is successful, these arrears may be removed”
Could Erudio delay and then say I was in arrears on my loan due to this? This would mean I can’t defer in future years and would lose eligibility due to age-related cancellation, etc.
I was thinking of addressing it head-on in my reply—saying if my deferment is still not settled by the time my current deferment term expires—please take the payment, and I will ensure there are sufficient funds in my account to cover it. However, I request a refund once my deferment application is accepted.
But I would prefer not to make this payment if I can not get reclaim it once the deferment is accepted. This is because I am fully eligible for the deferment I am applying for.
A section of their letter worries me (the second paragraph with the heading ‘Your Deferment term.’
”Your Deferment Application:
You have 60 days from today's date to provide the additional evidence required to complete your submission. If you do not submit the missing information within this timeframe, your deferment application will expire.
Your Deferment Term:
Should your current deferment term expire before your required additional information be processed, your first payment may not be collected but will count as arrears on your loan(s). If your application to defer is successful, these arrears may be removed”
Could Erudio delay and then say I was in arrears on my loan due to this? This would mean I can’t defer in future years and would lose eligibility due to age-related cancellation, etc.
I was thinking of addressing it head-on in my reply—saying if my deferment is still not settled by the time my current deferment term expires—please take the payment, and I will ensure there are sufficient funds in my account to cover it. However, I request a refund once my deferment application is accepted.
But I would prefer not to make this payment if I can not get reclaim it once the deferment is accepted. This is because I am fully eligible for the deferment I am applying for.
