Howdy, I applied for buying back in 10/24 on month that I was place on administrative forbearance in 2013 while FedLoan was processing a new income base repayment play.
I got the letter a couple of months ago saying that my loans have been forgiven. I have been paying off the loans the 16months while I was waiting for my buy back request to get processed under the impression that if it did get accepted I would be getting a refund for all the payments Ive made while I was waiting for the buyback to get processed. Now Mohela is telling me that isn't the case. Fedloan has the loans being forgiven on the date I received the letter and all the payment I've made ($400/month for 16 months) will not be getting refunded. I would have put my account into forbearance had I know, but was advised not to.
In addition, because my buyback was for a date in 2013, my 120th qualifying payment would have been in 2022 had that month in 2013 been included. Are the buybacks retro active? Does any of this make sense? I feel like im getting screwed. Mohela is going to investigate but I have zero faith in them.