My current plan is to keep making payments until I hit the 200/300 payments mark. Am I still eligible or am I wasting time? Im just trying to bring my loans payment down as much as I can in order to get the forgiveness to take action. Is this realistic or should I just go ahead and pay off the rest of my loan? I have about under 20k usd left to pay on them. Thanks yall!
Under SAVE mohela, been making payments even though its 0 every month due. My loans payment started in summer 2014, could I get forgiveness if I keep making payments before deadline?
byu/theta64 inStudentLoans
Posted by theta64
1 Comment
If you are on SAVE then you are in forbearance. Payments made during forbearance do not count towards forgiveness. You would need to switch to another IDR plan to make qualifying payments.
You would need to reach 300 qualifying payments for IBR forgiveness (25 years).
With a lower balance like $20k, forgiveness is unlikely unless you plan to have low income for the next 15 years or so.