Tax Deductible Interest
Any 1098-E forms that will be sent are postmarked no later than _________________ of each calendar year.
January 31st
What is an Alternative Repayment plan? (definition)
These are for borrowers who demonstrate exceptional circumstances which prevent them from being able to afford the monthly installment on the available payment options
Borrower calls in asking when is their next due date. What disposition code should you use for this call?
Billing/Payments
_____________ is the SLSS term for the borrower’s payment due date.
Cycle Date
If a borrower is an IBR New borrower, how many years of qualifying payments do they need to make in order to reach IDR forgiveness under IBR?
20 years
What is the DL tax ID #?
52-1198289
What are the types of Alternative Repayment Plans? (There are 4)
Fixed Payment, Fixed Term, Graduated, or Negative Amortization
Borrower calls in but the call disconnects before you can verify the borrower. What disposition code should you use for this call?
Wrong Number/Disconnected
Due dates cannot be changed while in I30 status. True or False?
True
If a borrower received Direct loans for graduate or professional study, how many months of qualifying payments do they need to make to reach IDR forgiveness under REPAYE?
300
Borrower made $650 in interest in 2022, will they automatically receive a 1098-E form from us?
Yes
After you’ve determined the type of Alternative plan the borrower qualifies for, what are the next 4 steps that you must take?
Be clear on what type of Alternative plan they qualify for as the borrower must be specific in their request.
Send them the Alternative Repayment quickmailer and advise them to follow the requirements listed in the email.
Advise we cannot place them on this plan or lower the payments until we receive their request in writing or via email.
Include the exceptional circumstances in your 250 notation (Don’t forget your 300 calculator notes!)
Borrower calls in to discuss his defaulted account. What disposition code should you use for this call?
Claims
Due dates should not be changed for loans in I40 status unless they are __________________________.
within 60 days of the conversion date
Since PAYE has disbursement requirements, the counter cannot start prior to ____________.
10/1/07
Where can borrowers view/print their 1098-E forms?
MMA
What is the standard processing timeframe for Alternative Repayment plan requests?
Borrower calls in to update their contact information. What disposition code should you use for this call?
Correspondence
Payments made during forbearance, I30 or I40 will not advance the due date.
True
How many years of qualifying payments does a borrower need to make to reach IDR forgiveness under ICR?
25
What letter code can you enter to have the borrower 1098-E sent to them?
#0791
What are the 5 things that should be included in the borrower's written request for an Alternative Repayment Plan?
Explanation of exceptional circumstances
Amount of monthly income (including spouse if applicable)
Amount of monthly expenses
Clarify which type of Alternative plan they’re applying for
Requested payment amount
Borrower calls in and asked how do they get a loan with Edfinancial. What disposition code do you use for this call?
General Questions
How long do Due Date changes typically take to process?
Effective __________ all student loan discharges and forgiveness programs are federally tax-exempt through at least the 2025 tax year.
01/01/21