Anyone else experiencing consolidation probs??

[angeleyeskkhr]

I just got a letter from NTHEA that they are cancelling my consolidation application because I'm not in repayment/grace period

 

I'm MAD because I friggin submitted my application around June 14th or 15th online AND they sent me a letter saying they received it and were processing it around June 25-ish...

 

I have to call them tomorrow since the offices closed at 6 pm to find out what's going on.

 

I thought since I submitted (and they ACCEPTED) the application before the July 1st deadline, I could still consolidate and qualify for the in-school deferment????

[angeleyeskkhr]

WTF?

 

OK, I just called and they said that I had needed to fill out a form to "change my status" from in-school to repayment and send that in with my application and because I didn't the consolidation wouldn't go through??

 

I thought that form was needed AFTER the July 1st deadline? And regardless they didn't even GIVE me the form with the online application. She said that was ALWAYS the rule, but I don't remember doing that with the WF consolidation...I just remember it stating that if I was in "in school status" that I would be giving up my grace period with the consolidation and that it would automatically revert to the in school deferment.

 

The CSR I talked to said there was nothing she could do and that "if" they revoke the law disallowing in school consolidation that they would send me a letter offering to consolidate those two loans at the lower (4.75) rate.

 

Why is it that I'm having these problems with consolidation when I consolidated around the beginning/middle of June and it seems no one else is having them?

 

ETA: The CSR seemed to acknowledge that they got and started processing the application/consolidation before the deadline too..So I would think the old rules applied?

Edited July 18, 2006 by angeleyeskkhr

[TxQuiltGirl]

The CSR was correct; you had to send in the in school form BEFORE July 1 to consolidate. And I'm sure that she was correct in that nothing can be done now.

 

Sorry.

[angeleyeskkhr]

The CSR was correct; you had to send in the in school form BEFORE July 1 to consolidate. And I'm sure that she was correct in that nothing can be done now.

 

Sorry.

 

 

Well, that stinks beacause the application didn't say anything about it and didn't have that paperwork) and I don't remember a form like that with the WF consolidation..

[TxQuiltGirl]

You would have had to sign it with WF to get it consolidated. When I did mine, the form was in the consolidation package; I had to sign it and fax it in.

[angeleyeskkhr]

You would have had to sign it with WF to get it consolidated. When I did mine, the form was in the consolidation package; I had to sign it and fax it in.

 

 

I found out the problem...Yeah it was probably in the actual application with Wells FArgo.

 

I found out that it wasn't in the application here because there was a "miscommunication" between the servicer and the lender or whatever (Between NHTEA and EdFinancial).

 

It appears Ed Financial (even though they denied it now, despite the fact that the application is ON THEIR WEBSITE) supplied to applications but failed to include that or make note of it being needed for in school consolidators...

 

NTHEA must have realized it right after I applied because they said they put up a note about the document on their website around that time (but I know it wasn't there when I applied)..

 

Oh well. I guess it's not *that* big of a deal... I still think it stinks though....Apparently they've had problems with quite a few consolidation applications having to be cancelled because of this