Hello all,
May I please request help interpreting backdoor data from studentaid.gov on my qualifying payment count?
a few questions:
-
If i'm reading this right, i have no qualifying payments if i switch to new IBR, but if i switch to ICR i have 274 qualifying payments?
-
Is that "274" qualifying payment count unreliable given that "earliestEstimatedForgivenessDate" shows "2035-11-25?"
-
Does this mean I should switch to ICR?
Thanks in advance for your help.
"type": "ICR",
"borrowerEligibleIndicator": "Y",
"loanEligibleIndicator": "Y",
"qualifyingPaymentCount": 274,
"eligiblePaymentCount": null,
"forgivenessRequiredPayments": 300,
"forgivenessRemainingPayments": 26
},
{
"type": "IBR",
"borrowerEligibleIndicator": "Y",
"loanEligibleIndicator": "Y",
"qualifyingPaymentCount": 0,
"eligiblePaymentCount": null,
"forgivenessRequiredPayments": 300,
"forgivenessRemainingPayments": 300
},
{
"type": "IBR_2014",
"borrowerEligibleIndicator": "N",
"loanEligibleIndicator": "N",
"qualifyingPaymentCount": 275,
"eligiblePaymentCount": null,
"forgivenessRequiredPayments": 240,
"forgivenessRemainingPayments": 0
},
{
"type": "SAVE",
"borrowerEligibleIndicator": "U",
"loanEligibleIndicator": "U",
"qualifyingPaymentCount": 275,
"eligiblePaymentCount": null,
"forgivenessRequiredPayments": 300,
"forgivenessRemainingPayments": 25
},
{
"type": "PAYE",
"borrowerEligibleIndicator": "N",
"loanEligibleIndicator": "N",
"qualifyingPaymentCount": 274,
"eligiblePaymentCount": null,
"forgivenessRequiredPayments": 240,
"forgivenessRemainingPayments": 0
},
{
"type": "PSLF",
"borrowerEligibleIndicator": "Y",
"loanEligibleIndicator": "Y",
"qualifyingPaymentCount": 0,
"eligiblePaymentCount": 275,
"forgivenessRequiredPayments": 120,
"forgivenessRemainingPayments": 120
},
{
"type": "TEPSLF",
"borrowerEligibleIndicator": "Y",
"loanEligibleIndicator": "Y",
"qualifyingPaymentCount": 0,
"eligiblePaymentCount": 275,
"forgivenessRequiredPayments": 120,
"forgivenessRemainingPayments": 120
}
],
"earliestEstimatedForgivenessDate": "2035-11-25",
"saveDiscretionaryIncomePercentage": 10,
"saveSixtyMonthIndicator": null
Request: help interpreting qualifying payment count from backdoor data
byu/Boring-Tie-1501 inStudentLoans
Posted by Boring-Tie-1501