How many payments do I need to get my loans forgiven?
You’ll need 300 payments if you borrowed federal loans for graduate school. Parent PLUS Loan borrowers might also need the same number of payments. If you only borrowed loans as an undergraduate student, you might only need 240 payments, depending on how the Education Department implements the waiver credit.
How far back will the ED count IDR payments?
It’s not yet clear how far back the department will look into borrowers’ payment histories.
Three scenarios are possible:
Your credit starts when you first begin to repay your loans.
The clock starts in 1994 when the first IDR plan was available.
The department starts counting from when it put the IBR plan in place, which was in 2009.
What will my payment count be for my consolidated loans?
If your consolidation is made up of loans that entered repayment at different times, you may be given credit for the loan with the highest payment count. The department did this with the PSLF Waiver. It has yet to say how it will handle this scenario.
Will I get credit for the payments I made while I was in default?
You will not be given credit for any of the time your loans were in default, whether you made voluntary payments or money was taken from you through wage garnishment or tax refund offset. If you’re still in default, use Operation Fresh Start to quickly get your loans back on track.
Why is the department only giving credit for periods of deferment before 2013?
Under the IDR rules, economic hardship deferment count toward IDR forgiveness but not PSLF. The data the Education Department can access from before 2013 is hazy. To avoid issues with cheating borrowers out of IDR payment credit, the department has chosen to credit borrowers for all periods of deferment, other than in-school deferment, before 2013.
What if I refinanced my federal loans with a private lender?
Unfortunately, you’re ineligible for this opportunity if you refinanced your federal student loans with a private lender during the payment pause or earlier.
What if I had less than 12 or more months of consecutive forbearance or 36 months or less of total forbearance?
You can file a complaint with the FSA Ombudsman to review your situation.