Student Loans

eagetal96

Member
Messages
8
Has anyone looked into the new Public Service Loan Forgiveness programs new rules? When I checked years ago we were not eligible but this might be worth looking into for some people.
 

CF

Assistant to the Regional Moderator
I ♥ pointSixtyFive
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3,331
Has anyone looked into the new Public Service Loan Forgiveness programs new rules? When I checked years ago we were not eligible but this might be worth looking into for some people.
I was told that we are eligible when I looked into it but that it’s such a stupid process it’s not worth it. Definitely looks like something doable now if you’re just started out paying them back. I’ve already paid enough off of mine to where it’s not even worth it anymore.
 

32andBelow

Legendary Member
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6,572
I heard that they are changing it so any payments you’ve made now count towards public forgiveness. Even if it wasn’t IBR. Based
 

redsphanatic

Trusted Contributor
Messages
189
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This is from the PSLF Tool from studentaid.gov... we are eligible.

They did change the rules just a bit... as long it was on a public loan, you made the 120 qualifying payments (also including the payments that would have been made during the COVID suspension), and were working for an eligible employer for those 120 months, you are eligible for PSLF. previously you did have to be on an income-based repayment plan during the payment period to have that payment qualify towards the 120.
 

BrocolliRob

Trusted Contributor
Messages
160
We are definitely eligible, I’m 40% of the way there and verify my eligibility every year to make sure I’m on track.
 

Typeass

Trusted Contributor
Messages
196
View attachment 6949
This is from the PSLF Tool from studentaid.gov... we are eligible.

They did change the rules just a bit... as long it was on a public loan, you made the 120 qualifying payments (also including the payments that would have been made during the COVID suspension), and were working for an eligible employer for those 120 months, you are eligible for PSLF. previously you did have to be on an income-based repayment plan during the payment period to have that payment qualify towards the 120.
What payments do you have to make now? since its not based on the income based payment. That was my main issue
 

Typeass

Trusted Contributor
Messages
196
Oh nice I’ll have to look into it then. I put it on extended graduated when I was in training. Whenever I quoted the IBR it would pay off in like 5-6 years
Same. And back payments that you made from a certain date are included as well. So most if not all your payments should be included in the 120 now. Thanks Brandon.
 
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