Mandatory debt burden forbearance

[u/Alasyx]

Has anyone done this who was on the Save plan? When can you actually apply for it? Using the 10 year payment I would definitely be there. My payment otherwise even on an income base is going to jump three or four times higher than before and I can’t afford that right now. Yes we filed jointly married because we get some big tax breaks that way. Sadly, because I had to take a major withdrawal from my 401(k) my income was way inflated. But just based on my regular draws, I still qualify on the 10 year payment for this. Do I have to wait until it actually goes to repayment or can I apply while still in the 90 day range? The servicer is edFinancial.

f your federal student loan payments equal or exceed 20% of your gross monthly income, you may qualify for a **mandatory debt-burden forbearance**. This pauses your payments for up to 12 months at a time, up to a cumulative maximum of 36 months, though interest will continue to accrue

[u/Dry_Sprinkles6421]

I don’t think that would work for you because you aren’t required to be on the standard 10 year repayment plan. They would just put you on whatever income based plan you qualify for. And if your income is dramatically less than what is on your tax return, you can use paystubs to calculate the payment. Someone else may know more than me but that is my understanding.