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COVID-19: Refunds for Payments During Suspension

Posted on May 18, 2021 by askHFTD

Did you make a student loan payment during March 13, 2020 to September 30, 2021? You didn’t need to and could receive a refund! Under several COVID-19 relief measures, the suspension of payments was scheduled to last from March 13,…

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3 Possible Areas of Student Loan Forgiveness

Posted on April 16, 2021 by askHFTD

During the US Senate Committee on Heath, Education, Labor & Pensions hearing for the nomination of James Kvaal to serve as Undersecretary of Education on April 15, 2021, we saw a few Congress members ask Mr. Kvaal questions about the…

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PSLF Approval Statistics in 2020

Posted on March 22, 2021 by askHFTD

In the latest release of PSLF statistics from the Department of Education, we see that the number of unique borrowers with PSLF discharges processed as of November 2020 is…3,776. To us, that sounds a bit low, but keep in mind…

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PSLF Tracking & Application

Posted on February 23, 2021 by askHFTD

FedLoan Servicing, the official loan servicer for PSLF, has once again updated their PSLF tracking page. Now, you can see more clearly just how many qualifying payments you’ve made, how many could potentially qualify if you certify your employment, and…

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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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