Blog Archives

PSLF: Clergy & Religious Workers Qualify

Back in August 2020, the Department of Education issued Final Regulations, which allowed PSLF applicants to count their hours spent on religious activities (see our previous post, mostly the same as below). Now those regulations are effective today, July 1, more »

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PSLF Quarterly Data

We’re seeing new data from Federal Student Aid (FSA) for the Public Service Loan Forgiveness (PSLF) program. See statistics here. In the past, several news articles have covered the abysmal PSLF approval rates. Now we see FSA has taken a more »

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COVID-19: PSLF Forgiveness and Eligibility

The COVID-19 relief measures have helped student borrowers save money during the suspended payment period beginning March 13, 2020- September 30, 2021. But what if your PSLF forgiveness period occurs during COVID-19 suspension? You hit the 120 monthly payments for more »

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3 Possible Areas of Student Loan Forgiveness

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 more »

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PSLF Approval Statistics in 2020

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 more »

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PSLF Tracking & Application

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 more »

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PSLF: Lump Sum Payments Now Qualify

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 more »

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PSLF & Rising Income

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 more »

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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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President Biden Extends Suspension of Student Loan Payments

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 more »

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Posted in blog, COVID-19