Hi Heather,

How do I figure out what my anniversary date is for my ICR payment plan? I received a letter dated 9/27/14 telling me I would be on an ICR plan beginning on 11/21/14. I have been trying to get documentation of what my payment will be after 11/21/15 for a mortgage application. I’ve made multiple calls to Nelnet and they tell me I can only apply 60 days before my anniversary date (i.e. 9/21/15). On 8/18/15, I received a letter from Nelnet telling me to submit my information prior to 10 days after 10/17/15 to continue on this program - but there was no indication that I couldn’t submit before a certain date - just the deadline. I tried to re-certify on line but was told my re-certification is not due yet. I called Nelnet and the person I spoke to told me I should be able to apply because my plan was ending in October. Can you help me shed some light on this?

It’s true they will not let you complete the annual recertification until 60 days before your anniversary date. You could apply for recertification based on an income change before the 60 days, and that would reset the payment cycle so you’d have 12 months at the new rate, but that’s only if your income changes. I know that Fedloan Servicing offers a downloadable Loan Verification letter specifically for mortgage companies, and it states how much you will owe each month based on your current income. Maybe Nelnet has something similar? I know some mortgages can be tricky to get approved, but others less so.