Student loan debt suddenly became $0

[z1ggy]

I go to the Federal loan website that I use to pay my loans every month. I go in there and I see a balance due of "$0.00" and an outstanding balance of "$0.00". I look through the transaction history and on 6/10/2013, my balance was paid in full, under transaction type "other". Normally when I paid it said type "EDPAY" or something like that.

Did they sell my loan to some other bank with out telling me? I didn't get any emails or notifications on the website saying so. Or was there somehow a glitch in their banking system?

I am afraid to call because I was slightly hoping this was a glorious mistake on their end and I am now debt free. On the other hand, if they sold the loan and forgot to tell me, or I somehow missed the notice, I could end up being late on payments to another bank.

D:

 

[TwiceOver]

Mine was transferred from Direct Loans to MOHELA several months ago. I'm betting yours did too. There was an interim period where your payment to Direct Loans was transferred to your MOHELA account as if there was no change. You might want to look through any messages you had.

Later this month I get to write the check of freedom though. Can't wait for that!

 

[Murloc]

if it's an error, make sure it isn't your duty to make them notice or something.
I'd keep putting away the money to pay the loan payments until you solve this conundrum.

 

[randomrogue]

When I had my student loans it was listed first as one and then it was zeroed out to another. I believe it was when I went from subsidized to non-subsidized 6 months after graduation.

 

[Vdubchaos]

This happened to my Co Worker. Loan was transferred but for some reason it was $0 balance.

Print it out ASAP!!!

I would wait about 2-3 months and see if any new bills come before I would get too excited!

 

[highland145]

This happened to my Co Worker. Loan was transferred but for some reason it was $0 balance.

Print it out ASAP!!!

I would wait about 2-3 months and see if any new bills come before I would get too excited!

This.


Won't help but sure looks nice.

 

[rcpratt]

Your loan was transferred. You'll get paperwork in a few weeks.

 

[Attic]

Welcome to my new charity.

Paying off random student loan debt in full with no question asked.



Oh wait, have to win lottery first.

brb.

 

[SunnyD]

Your loan may have been transferred to a new servicer.

That said, my wife just received letters that bother her loans are paid in full, but by our records we still owe money on them. That said, the letters do explicitly say PAID IN FULL on them. So I think we're good.

Unfortunately for me, my loans still are quite well still in existence.

 

[bonkers325]

If you know you owe them money, then they know it too. Like other users posted, your loan has probably been transferred and for the interim it will show a balance of zero until it the paperwork is completed.

Or you can screenshot it and claim that it was paid in full as of this day. Won't mean anything though

 

[Fritzo]

I felt sorry for you so I paid them off. You're welcome.

 

[Rumpltzer]

Don't listen to these assholes.

It was me, and it wasn't because of charity... it was your mom and her mad skills. Your momma sure does care about your schoolin, son.

 

[edro]

Didn't Obama pass something where if you work in public service for 10 years, they pay off your student loan?

Are you in the public sector? Has it been 10 years?

 

[Puppies04]

You are now debt free, take all the money you would usually spend on your loan and spend it on hookers and blow.

 

[SagaLore]

Did they sell my loan to some other bank with out telling me? I didn't get any emails or notifications on the website saying so. Or was there somehow a glitch in their banking system?

Yes and no. All the loans moved to someone else, but they did tell you. You probably thought it was junk mail.

 

[rcpratt]

Yes and no. All the loans moved to someone else, but they did tell you. You probably thought it was junk mail.

I've heard of multiple instances where the first "notification" that people received regarding student loan transfers was the zeroing out of their balance on the online system. Written notification, in some cases, didn't come until 4-6 weeks after.

 

[z1ggy]

I've heard of multiple instances where the first "notification" that people received regarding student loan transfers was the zeroing out of their balance on the online system. Written notification, in some cases, didn't come until 4-6 weeks after.

Well I have until 6/23 to pay this...Sooooo...It would be nice to know where to send payment so I don't get slapped with a late fee. I guess I will have to call them.

 

[Printer Bandit]

great expectations

 

[Bryophyte]

Welcome to Mohela. The transition should be easy.

 

[clamum]

Welcome to Mohela. The transition should be easy.

Yep, my bet as well. I was switched to MOHELA from Direct Loans about a year and a half or so ago. I've had no problems yet, although I had switched to an income-contingent repayment plan, and in order to change back to the standard repayment I had to call (can't do it online or send something in).

 

[Sonikku]

People make mistakes, even when programming software and computers and mishaps happen on a wide range of things all the time.

One instance in which the bureaucracy seriously gets it's shit together real fast however is in matters of debt and money.

You aren't off the hook. You're fucked.

 

[RearAdmiral]

Mine was transferred from Direct Loans to MOHELA several months ago. I'm betting yours did too. There was an interim period where your payment to Direct Loans was transferred to your MOHELA account as if there was no change. You might want to look through any messages you had.

Later this month I get to write the check of freedom though. Can't wait for that!

Grats grats grats!

 

[mkrohn]

spend the loan payment on booze FAST

 

[rcpratt]

Well I have until 6/23 to pay this...Sooooo...It would be nice to know where to send payment so I don't get slapped with a late fee. I guess I will have to call them.

In all likelihood, that payment will simply be skipped. It takes them awhile to get everything transferred...

 

[iRONic]

I felt sorry for you so I paid them off. You're welcome.

Sez the dude who's so broke he can't pay attention...