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PSLF: Lump Sum Payments Now Qualify

Posted on February 17, 2021 by askHFTD

In the past, prepayments or lump sum payments did not count for PSLF. But that has changed according to the Department of Education, so now you can spread that lump sum across future months (assuming you qualify for PSLF and…

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PSLF & Rising Income

Posted on January 26, 2021 by askHFTD

Did you know that if your income increases while you’re on IDR and PSLF, your monthly payment amount will also increases? Let’s take a look at an estimate of forgiveness based on adjusted gross income and overall federal student loan…

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ED Official Blog: COVID-19 and PSLF

Posted on January 20, 2021 by askHFTD

For those of you who didn’t know, the Department of Education has an official blog! It recently covered some COVID-19 and PSLF issues and we thought it was a good summary. The infographics are also very helpful, especially in determining…

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President Biden Extends Suspension of Student Loan Payments

Posted on January 20, 2021 by askHFTD

01/26/21 EDIT: See President Biden’s Statement/Release: “At the request of President Biden, the Acting Secretary of Education will extend the pause on federal student loan payments and collections and keep the interest rate at 0%. Too many Americans are struggling…

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COVID-19: Employer Student Loan Repayment Extended to Jan. 1, 2026

Posted on January 6, 2021 by askHFTD

In the most recent COVID-19 relief bill, Congress has extended the employer tax-free contribution until January 1, 2026. Your employer can pay you (employee) directly or your lender up to $5,250/year tax-free for both you and the employer. The employee…

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COVID-19: Student Loan Forbearance Extended Until Jan. 31, 2021

Posted on December 7, 2020 by askHFTD

Good news for borrowers! The CARES Act borrower benefits that were scheduled to end on December 31, 2020 has now been extended another month until January 31, 2021. This means that borrowers can save extra money that otherwise would have…

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Historical PSLF Q&A’s

Posted on December 1, 2020 by askHFTD

The PSLF Q&A’s from the Dept of Education periodically changes, making it harder to keep track of what it takes to qualify for PSLF. Got an old PSLF question that you thought you saw the answer to, but can’t find…

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New Combined PSLF ECF and Forgiveness Form

Posted on November 24, 2020 by askHFTD

The new PSLF Form is out and it is essentially a combined version of the old ECF and old PSLF Forgiveness application. That makes sense because the two older versions were almost the same form! With the new PSLF Form…

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PSLF Help Tool Update

Posted on November 9, 2020 by askHFTD

The PSLF Help Tool on the Dept of Education’s website has now been updated and is available here: https://studentaid.gov/pslf/ This new tool allows borrowers to look up their employer and see if their employer qualifies. It also tracks the number…

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Biden & PSLF

Posted on November 4, 2020 by askHFTD

Although the counts are still continuing, let’s take a look at Biden’s proposed PSLF program changes. According to “The Biden Plan for Education Beyond High School,” he will offer automatic enrollment for public service individuals into a new forgiveness program…

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