Blog Archives

ED Official Blog: COVID-19 and PSLF

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 more »

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Posted in blog, COVID-19

President Biden Extends Suspension of Student Loan Payments

President Biden issued an executive order today that extended the automatic suspension of student loan payments and waiver of interest. This COVID-19 benefit was set to expire on January 31, 2021, but has now been extended to “at least” September more »

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Posted in blog, COVID-19

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

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 more »

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Posted in blog, COVID-19

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

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 more »

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Posted in blog, COVID-19

IDR Recertification & COVID-19 Strategy

If you’re on an income-driven repayment (IDR) plan, you probably received the following e-mail from the Department of Education, asking you if you would like to recertify your IDR plan early, before your scheduled recertification date: Recently, you received a more »

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Posted in blog, COVID-19

PSLF: COVID-19 Suspension of Payments Strategy

The COVID-19 relief for student loan borrowers gives all borrowers an automatic temporary suspension of payments until December 31, 2020.  If you’re in PSLF, that means that during these months until December 31, 2020, you don’t have to pay anything, more »

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Posted in blog, COVID-19

COVID-19 Forbearance and PSLF

The Department of Education has updated their site with more information about PSLF and IDR during COVID-19. The good news is that suspended payments count toward PSLF! See below for more info: From FedLoan Servicing: Public Service Loan Forgiveness (PSLF) more »

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Posted in blog, COVID-19

PSLF Non-Payments Count for Trump’s Executive Order

On August 21, 2020, Secretary DeVos has “directed Federal Student Aid (FSA) to extend the student loan relief to borrowers initiated by the President and Secretary in March 2020 through December 31, 2020.” This means that borrowers will continue to more »

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Posted in blog, COVID-19

Trump Executive Order

UPDATE: see our latest post: http://www.holdfasttodreams.org/pslf-non-payments-count-for-trumps-executive-order/ President Donald Trump has issued an executive order today (August 8, 2020; see https://www.whitehouse.gov/presidential-actions/memorandum-continued-student-loan-payment-relief-covid-19-pandemic/) which has extended the previous student loan relief issued on March 20, 2020. The executive order will: “[P]rovide such deferments more »

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Posted in blog, COVID-19

UPDATE: Coronavirus & PSLF

Looks like the rules have changed from our last posting. A few of the new changes (https://studentaid.gov/announcements-events/coronavirus#borrower-questions); TL;DR: Everyone gets forbearance and those payments count for PSLF (see below for details): Your payments will automatically stop from March 13, 2020, more »

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Posted in blog, COVID-19