Celebrating 10 years! 2007-2017

Student Loan Q: REPAYE - Negative Estimated Interest Accrual

Question for the student loan gurus about an "estimated" neg ginganinja03/16/17
it's a glitch. Try again in a few days dingbat03/16/17
I assume your monthly payment due is above 0? shouldalearnedmath03/18/17
ginganinja (Mar 16, 2017 - 5:15 pm)

Question for the student loan gurus about an "estimated" negative interest accrual and negative amount to be repaid.

I just switched from IBR to REPAYE. My loans are through Nelnet. Nelnet has a page called "Payment Schedule", which gives basic info about your loans, and estimates your expected interest / principal payments over the life of your loans. I just checked out the "Payment Schedule" page to check out the impact of my switch to REPAYE. To my surprise, a couple of the numbers are now negative. I have no idea what this means. I called Nelnet, and the guy said he has no idea and has never seen negative numbers before. I've fudged the numbers a bit for internet privacy concerns, but I recreated the "Payment Schedule" page below so you guys can take a look. Let me know if any of you can explain why a couple of these numbers are negative.


Loan Type: DIRECT LOAN STAFFORD UNSUB
Interest Rate: 6.550%
Outstanding Principal Balance: $14,000
Unpaid Fees/Other Charges: $0.00
Unpaid Interest to be Capitalized: $0.00
Interest Not Capitalized: $700
Estimated Interest Accrual Over Loan Term: -$16,000.
Interest Paid as of 03/07/2017: $500.00

Total to be Repaid: -$1,500

Reply
dingbat (Mar 16, 2017 - 6:15 pm)

it's a glitch. Try again in a few days

Reply
shouldalearnedmath (Mar 18, 2017 - 12:39 pm)

I assume your monthly payment due is above 0?

Reply
Post a message in this thread