Yearly Archives: 2020

PSLF: COVID-19 Suspension of Payments Strategy

The COVID-19 relief for student loan borrowers gives all borrowers an automatic temporary suspension of payments until December 31, 2020.  If you’re in PSLF, that means that during these months until December 31, 2020, you don’t have to pay anything,

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COVID-19 Forbearance and PSLF

The Department of Education has updated their site with more information about PSLF and IDR during COVID-19. The good news is that suspended payments count toward PSLF! See below for more info: From FedLoan Servicing: Public Service Loan Forgiveness (PSLF)

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PSLF $0 Payments: For Real?

Short answer, yes! Many times, borrowers are confused as to whether $0/month payments count towards PSLF. If the borrower’s income level is low enough, the income-driven repayment plan (IDR) will place the borrower in a $0/month repayment schedule. Usually borrowers

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PSLF Recount Problems

We’ve seen many horror stories about completing PSLF recounts. Sometimes recounts are needed when borrowers switch repayments plans, switch loan servicers, consolidate, split loans, it seems just about any transaction under the sun! Usually the wait time for PSLF recount

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PSLF Success Stories

We love to comb through success stories for PSLF on reddit.com/r/PSLF/! It looks like the more recent success stories have a faster turnaround time (1-2 months) compared to older ones (3-5 months). Here are some key takeaways: Make sure the

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PSLF Non-Payments Count for Trump’s Executive Order

On August 21, 2020, Secretary DeVos has “directed Federal Student Aid (FSA) to extend the student loan relief to borrowers initiated by the President and Secretary in March 2020 through December 31, 2020.” This means that borrowers will continue to

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PSLF: Victory for Religious Organizations

The Department of Education has issued Final Regulations on August 13, 2020, which will allow PSLF applicants to count their hours spent on religious activities: “The Department has removed proposed § 685.219(c)(4), which would have prohibited PSLF applicants from counting hours

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Trump Executive Order

UPDATE: see our latest post: http://www.holdfasttodreams.org/pslf-non-payments-count-for-trumps-executive-order/ President Donald Trump has issued an executive order today (August 8, 2020; see https://www.whitehouse.gov/presidential-actions/memorandum-continued-student-loan-payment-relief-covid-19-pandemic/) which has extended the previous student loan relief issued on March 20, 2020. The executive order will: “[P]rovide such deferments

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Posted in blog, COVID-19

UPDATE: Coronavirus & PSLF

Looks like the rules have changed from our last posting. A few of the new changes (https://studentaid.gov/announcements-events/coronavirus#borrower-questions); TL;DR: Everyone gets forbearance and those payments count for PSLF (see below for details): Your payments will automatically stop from March 13, 2020,

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Coronavirus & PSLF

SEE UPDATED POST: http://www.holdfasttodreams.org/update-coronavirus-pslf/ With President Trump’s announcement on March 13, 2020, that interest would be waived on all federally held student loans and borrowers could request emergency forbearance, what does this mean for PSLF? (TL;DR: If you want PSLF

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