Deferring Undergrad loans before starting med school

[byurazorhog]

So I got a letter from Sallie Mae today informing me that I will need to start paying my undergrad loans starting in September as I have graduated from college. Do I need to call my loan servicing company to ask for a deferment for the entire 4 years of med school? How does this work exactly? Can someone who has gone through this explain it to me? Thanks guys!

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[jm192]

So I got a letter from Sallie Mae today informing me that I will need to start paying my undergrad loans starting in September as I have graduated from college. Do I need to call my loan servicing company to ask for a deferment for the entire 4 years of med school? How does this work exactly? Can someone who has gone through this explain it to me? Thanks guys!

I would call them to double check, and just tell them where you're at in life. You may need to have your medical school send them something certifying you are still in school. However, I got the same thing from the student loan people, filled out FAFSA, took out loans, started school, did nothing else, still haven't heard from them.

 

[Avoidthetiger]

I've gotten this letter twice now. I also have 3 different types of educational loans, and I have never hard to tell any of them that I am still in school - they just know.

Anyways, you don't need to tell them you are starting med school. As soon as you enrolled and start, your undergrad loans will automatically be deferred. I would always double check closer to Sept /after you enroll- just log onto your sallie mae account and verify, but it should happen automatically.

 

[45408]

I've gotten this letter twice now. I also have 3 different types of educational loans, and I have never hard to tell any of them that I am still in school - they just know.

Anyways, you don't need to tell them you are starting med school. As soon as you enrolled and start, your undergrad loans will automatically be deferred. I would always double check closer to Sept /after you enroll- just log onto your sallie mae account and verify, but it should happen automatically.

It's a pretty easy phone call to make, but I wouldn't assume anything. Make sure your loans don't go into repayment.

 

[Avoidthetiger]

It's a pretty easy phone call to make, but I wouldn't assume anything. Make sure your loans don't go into repayment.

haha, I was lazy 2-years ago and literally just didn't even think about it. And then when I never got any information about who to call or where to go to pay, I figured I was a-OK. I didn't even know who to call for 2 of the organizations (2 of the 3 are now combined though - yay! simplied). I finally figured out one of the loans just last week and where I will eventually need to go to pay it back - it's somehow managed by my university, but at the same time not by my university. so confused.

Regardless, all of them know I am still in school currently and am deferred, without ever contacting them directly. I don't even know why you you would need to give them a phone call. Telling them you are in school via phone is not the same as actually giving them the documentation that you are still in school - which the school you are enrolled into should do for you automatically, without you asking them. Otherwise you could always lie on the phone about not dropping out or your completion date.

Summary: I would still call in August/September - before payments are due - and once I am clearly enrolled in a school, but only if my deferred status hasn't change on their online website. You should be able to access most/all of your loans online.

 

[Myuu]

Hilariously, I had the biggest trouble getting Sallie Mae to acknowledge that I was still in school. All of them should have paperwork you can submit to verify this. They will themselves verify via national registry. Or at least they're supposed to.

 

[CougarMD]

Hilariously, I had the biggest trouble getting Sallie Mae to acknowledge that I was still in school. All of them should have paperwork you can submit to verify this. They will themselves verify via national registry. Or at least they're supposed to.

Yes, there is paperwork. And usually there is a form at your school you can fill out, and THEY will notify them.

Sometimes it can take them a bit to realize you're in med school (allegedly) so it is best just to fill out the form.

Call your future school's financial aid office, and they will be able to help you with everything. Like Prowler said...you don't want to go into repayment. Even for a month.

 

[45408]

I don't even know why you you would need to give them a phone call.

You trust them to make the best judgment on the information they have in front of them, which may or may not be accurate. I don't. They don't care about your money, at all.