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High loan payments on repayment assistance

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Amysabrina View Drop Down
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Joined: 11/October/2016
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    Posted: 11/October/2016 at 7:06pm
I have been out of university since April 2007, I began with over 45,000 in student loan debt and have been slowly paying it down over the last 9.5 years, most of the time while on repayment assistance. The current balance remaining is approximately 26,000. I somehow managed to get a really long loan term originally, I'm not sure what it started as because I was not even close to consideri the consequences o taking out student loans or how long it woul take to pay them back. I'm not sure if a longer term was commonplace in 2004 or not, but NSLSC recently discovered it was still over their max loan term and they changed my loan term to the max allowable which they said was 14.5 years. That was just over 6 months ago. I was not notified of this change, but when I applied for repayment assistance last it ended up being higher than my previous regular monthly payment was. I went from 279.00 with no assistance to 283.00 after assistance. This is how i found out about their reconsolidating my loan. So now my regular monthly payment is 425. My repayment assistance is going to be around the same amount with the remaining 210 being covered by rap. Why is the total monthly payment amount higher than my regular amount? When I'm supposed to be getting help? Is this because they are trying to get my loan complete in the 15 year repayment assistance time frame (6 years remaining)? Also my loan time period has jumped from the 14.5 years they told me it was at 6 months ago to only 11.8 years? Why have almost 3 years come off my loan time in 6 months... So confused. We really can't afford these large payments but it appears no matter what I do I'm paying over 400$ a month?
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