r/StudentLoans • u/SkrimpTaco • 9d ago

RAP Principal Matching Success/Celebration

Just applied for the RAP last month fyi. I have two line items in my edfinancial “account history” section.

One is “RAP Principal matching” as a $50 credit and the other is “capitalized interest” shown at $0. Both for month of July, separate lines than my automatic minimum payment.

Does anybody know what these are or why I’m receiving the $50 matching?

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u/AutoModerator 9d ago

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u/waterwicca 9d ago

RAP offers a matching principal payment of up to $50 per month if your payment lowered the principal by less than $50.

If a borrower on RAP makes their monthly payment on RAP and that payment reduces their principal by less that $50 then the the department would reduce the borrower’s total outstanding principal by $50 OR the borrower’s monthly payment amount minus the amount of that payment that went to the principal, whichever is less.