A federal court issued an injunction preventing the Department of Education from implementing the income-driven repayment (IDR) plan called SAVE, and parts of other IDR plans. As a result, borrowers on SAVE will remain in forbearance until the legal situation is resolved. During this forbearance, interest will not accrue, but time in this status does not count toward Public Service Loan Forgiveness (PSLF) or Income-Driven Repayment Forgiveness (IDRF).
Due to the ongoing litigation, the IDR and online loan consolidation applications are temporarily unavailable, leaving borrowers unable to change repayment plans until a new application is released. Most borrowers in public service will be eligible to submit a request under the PSLF buyback program to receive retroactive credit for this forbearance, but this request cannot be made until a borrower has reached 120 months of approved qualifying employment.
For over 13 years, The Student Loan Help Group has been helping borrowers understand their student loan repayment and forgiveness options. With the nation’s top team of counselors and processors, borrowers can find the forgiveness they deserve and see themselves debt-free faster.
Skip the chat boxes or waiting days for email responses. Every borrower’s situation is different, and it’s time someone listened to yours.
Our expert, state-licensed counselors provide a complimentary, confidential, and no-obligation one-on-one consultation to discover the best plan of action personalized to your unique needs while answering all your questions. Wondering if you’re eligible for forgiveness? Struggling with defaulted loans? TSLHG’s counselors can help you get on track.
It takes less than a minute to schedule your complimentary consultation with one of our highly qualified counselors. Click the button below and use the virtual calendar to choose a convenient time to speak.
All of this work can be done on your own, but why let managing your student loans be stressful? Our world-class team of processors will handle all related forms, filings, submissions, and communications on your behalf so you can stay worry-free and achieve forgiveness sooner.
