I gave 140 of 120 qualifying payments under PSLF, Save Plan. Should I transfer to IBR of stay on the Save Plan? Im getting conflicting answers & no help from Dept. of Education!
Public Service Loan Forgiveness Help!
byu/Inside_Wheel_5801 inStudentLoans
Posted by Inside_Wheel_5801
2 Comments
If you have 140 qualifying payments then all you need to do is wait for forgiveness.
Do you have 140 qualifying payments or 140 eligible payments? If eligible payments, you need to have 120 qualifying payments also for forgiveness. If you have 120 qualifying payments, you should already have your green banners showing you fulfilled your requirements. If you have your green banners, forgiveness processing can take up to 90 days. Lately, it has actually been taking about 30 – 60 days.
If you are stuck in SAVE forbearance and you don’t have 120 qualifying payments, none of the last year or so will count unless you buy those months back. They recommend making payments while awaiting your buyback request.