Hi, loans were originally taken out for med school and graduated in June 2021. That being said I was impacted by the COVID pause and put on forbearance which then continued part way into my residency and eventually got automatically placed on SAVE. I’m now currently in fellowship and expect to completed training June 2027.
With the recent court actions and gutting of ED it’s been difficult to figure out all the changes and what needs to happen next. I’m aware of the recent decision to end SAVE and I know the 90 day notices are coming but I also hear something about regulations coming out on April 30th that has some language about how much of your payments towards PSLF will rollover depending on if you change repayment plans before July 1st? Does anyone have any clarity about this. My understanding of time spent in COVID forbearance counts towards PSLF so I don’t want to forfeit this, but I’m also lost because I read that the noticed to move off SAVE won’t even get sent out until on or after July 1st.
So do I switch before? Do I stay where I am? What do I switch to? I believe I’m grandfathered I’m so I can switch to PAYE but I also saw the sticky that recommended loans borrowed from my time might be better on new IBR? My loans being treated like hot potato are the reason why I have put off doing anything about them until now.
If it helps with providing advice on which plan may be best: I file taxes married filed separately and we are also expecting a little one later this year.
I already reached out to my services (Aidvantage) and they basically told me they don’t have any information on when the notices will be sent out but to keep checking my inbox.
Automatically placed on SAVE and confused on PSLF
byu/dunklesf inStudentLoans
Posted by dunklesf
1 Comment
Nothing is getting rid of your qualifying PSLF counts. Payments on any IDR plan qualify for PSLF.
Currently ICR, PAYE, and IBR are available as far as IDR plans go. RAP will start July 2026. By July 2028 there will only be IBR and RAP. ICR and PAYE will be gone. You are only limited to RAP if you take any loans out on or after July 1, 2026.
What is your AGI from your latest tax return (combined with spouse if filing jointly), family size, and loan balance? When did you take out your earliest loans?