President Joe Biden early in 2021 , extended student loan repayment until at least September 30, 2022. Then again he extended payment until December 31, 2022. This applies to Federal Student loans owned by the US Department of Education. This includes FFEL (Federal Family Education Loans) owned by the US Department of Education and Direct Loans.
I do have a FFEL loan but it is not owned by the US Department of Education. Originally it was owned by the US Department of Education (1998) but I consolidated the loan in 2003.
During the payment suspension period which began March 13, 2020. The loan servicer required I continue to update the IDR forms yearly. As well the loan continued to accrue interest.
One important question, the loan servicer advises me to consolidate this loan again. What type of loan will it be? Will the loan capitalize the interest if I consolidate?
Next Topic: Get information about the original student loan debt. Obtain a copy of the original promissory note.
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