Tampa Student Loan and Bankruptcy Lawyer Blog — August 18, 2020
Some details about the current status of PSLF – Public Service Loan Forgiveness:
- PSLF processing and tracking is no longer handled by MOHELA — You can get much more specific information on your PSLF progress, including a month-by-month breakdown of qualifying PSLF payments, through your account at StudentAid.gov, which is now where PSLF tracking is located.
- Long-term forbearances can count toward PSLF under the IDR Account Adjustment. The Department. of Ed is still in the process of implementing this — details here: studentaid.gov/announcements-events/….
- Certain types of other forbearances can potentially count toward PSLF under new rules that went into effect on July 1, 2023. Details here: studentaid.gov/manage-loans/forgiveness-cancellation/…
- If the forbearance period does not count under either the IDR Account Adjustment or the new PSLF rules, the borrower can explore taking advantage of the new PSLF Buyback option — details here: studentaid.gov/manage-loans/forgiveness-cancellation/….
- If you are on the SAVE plan, you are likely now in a forbearance due to the ongoing legal challenges, and the forbearance period does not count toward PSLF (but can be bought back later through the PSLF buyback program). Details on that are here: studentaid.gov/announcements-events/save-court-actions.
If you need help with your student loans and want to know your options, please consider a strategy session with us. Click the link below, call 813-258-2808 or email us at info@christiearkovich.com.
Have a great Sunday!
