I was on IBR for about 10-12 years before I consolidated to move to the SAVE plan. When I look at going back to IBR now that SAVE is gone, it says "Estimated End of Payment Term
Feb 2040"
I'm pretty sure it should be a good amount sooner than that, but it's worrying to me that they're saying it'll be ended in 14 years when it's meant to be up to 20 years. I'm confused on why some time seems to have been removed, but it doesn't seem to have the time I was in IBR before SAVE?
Is there any guidance for this? Nelnet has called me a few times, but it's always when I'm unable to answer at work. I've done a good amount of googling but am struggling to find good information.
Going back from SAVE to IBR, how can I know my old payments are there?
byu/kelev inStudentLoans
Posted by kelev
1 Comment
It is estimating your forgiveness date. The simulator can be buggy. What matters for forgiveness is when you reach the required number of qualifying payments.
You would need to reach 300 for IBR forgiveness. If you have been in repayment for about 12 years then you have about 13 to go.
You can use this link to view the hidden data file used for the IDR counts to check your progress towards forgiveness. You MUST LOG IN FIRST to your studentaid.gov account and then click the link: https://studentaid.gov/app/api/nslds/payment-counter/summary
It should look like a black page with a bunch of white text. You are looking for the parts that say “qualifyingpaymentcount”. It will appear multiple times. It’s broken down per loan and then per each payment plan. That number is your IDR count towards forgiveness. Keep in mind that there may be errors in the counter but right now this is what will give you the best idea about your progress.