PSLF

[gretchenindisguise]

Apr 13, 2023 17:19:18 GMT -5 Jalapeñomel said:

so i just checked DH’s, and he’s waiting on 80 payments to be certified. i sent in the paperwork again a couple weeks ago, but if they take all 80, he will have made 186 eligible payments. i don’t know how that’s possible, but it’s a fucking game changer.

Yayayayyayay!!!

[pinotgrig]

I haven’t posted in this thread yet, but have been following along to help FI. After a few errors and a lot of time on hold, he got his letter forgiving his $61k in student loans a week or so ago. 🥳🥳 Thanks to all in this thread and especially to gretchenindisguise!

[gretchenindisguise]

Apr 13, 2023 22:22:16 GMT -5 pinotgrig said:

I haven’t posted in this thread yet, but have been following along to help FI. After a few errors and a lot of time on hold, he got his letter forgiving his $61k in student loans a week or so ago. 🥳🥳 Thanks to all in this thread and especially to gretchenindisguise!

Yay!!! Such great news!

[imimahoney]

Apr 13, 2023 19:55:45 GMT -5 gretchenindisguise said:

Apr 13, 2023 16:31:34 GMT -5 imimahoney said:

Payments in and counted! 165 in total 🥳🥳🥳

And I have no clue that I would get a refund check for my over payment. What an amazing thing to find out!

Woohoo!!! Hopefully within the next month it clears out!

Refund will depend on when you consolidated and just remember that covid refunds of $0 are $0.

So if I didn't consolidate until July and then applied 1 month later than I would get 1 month back?

[Jalapeñomel]

gretchenindisguise, when DH was getting his PhD, he was a teaching assistant. I tried to see if that qualified, but I'm getting mixed results. Do you happen to know?

[gretchenindisguise]

Apr 14, 2023 3:54:26 GMT -5 imimahoney said:

Apr 13, 2023 19:55:45 GMT -5 gretchenindisguise said:

Woohoo!!! Hopefully within the next month it clears out!

Refund will depend on when you consolidated and just remember that covid refunds of $0 are $0.

So if I didn't consolidate until July and then applied 1 month later than I would get 1 month back?

Any months after consolidation and over the 120 mark will be refunded. But after the consolidation, you shouldn't have been paying because of the payment pause. Were you paying anyways?

[gretchenindisguise]

Apr 14, 2023 8:20:58 GMT -5 Jalapeñomel said:

gretchenindisguise, when DH was getting his PhD, he was a teaching assistant. I tried to see if that qualified, but I'm getting mixed results. Do you happen to know?

Likely no.

The only scenario where they would count would be if it was full time work, he had waived in school deferment and kept paying on loans taken from before his PhD.

[Jalapeñomel]

Apr 14, 2023 8:20:58 GMT -5 Jalapeñomel said:

gretchenindisguise , when DH was getting his PhD, he was a teaching assistant. I tried to see if that qualified, but I'm getting mixed results. Do you happen to know?

Quoting myself, because I don't think he worked the required 30 hours. whomp whomp

[Jalapeñomel]

One more question...say I have 15 payments to go...if they keep pausing it, and 15 months go by, all of those will be forgiven as well, yes?  And if we are currently employed by a qualifying employer, do we have to keep getting our months recertified as we go along or will they sweep in at the end and forgive them all?

[bex1973]

Apr 14, 2023 9:00:02 GMT -5 Jalapeñomel said:

One more question...say I have 15 payments to go...if they keep pausing it, and 15 months go by, all of those will be forgiven as well, yes?  And if we are currently employed by a qualifying employer, do we have to keep getting our months recertified as we go along or will they sweep in at the end and forgive them all?

Ultimately it's payment not months that get you to forgiveness

[gretchenindisguise]

Apr 14, 2023 10:38:56 GMT -5 bex1973 said:

Apr 14, 2023 9:00:02 GMT -5 Jalapeñomel said:

One more question...say I have 15 payments to go...if they keep pausing it, and 15 months go by, all of those will be forgiven as well, yes?  And if we are currently employed by a qualifying employer, do we have to keep getting our months recertified as we go along or will they sweep in at the end and forgive them all?

Ultimately it's payment not months that get you to forgiveness

@jalepenomel - payment pause months count for PSLF regardless of payment. So yes - those months will count as long as you're at a qualifying employer.

But I don't expect it to go past the current pause. My guess is payments will start back up in September 2023 - so you'll only have to pay after that. 

Are you on an income based repayment? Able to do married filing separate to lower payments even further for those last few?

[bex1973]

Apr 14, 2023 11:14:08 GMT -5 gretchenindisguise said:

Apr 14, 2023 10:38:56 GMT -5 bex1973 said:

Ultimately it's payment not months that get you to forgiveness

@jalepenomel - payment pause months count for PSLF regardless of payment. So yes - those months will count as long as you're at a qualifying employer.

But I don't expect it to go past the current pause. My guess is payments will start back up in September 2023 - so you'll only have to pay after that. 

Are you on an income based repayment? Able to do married filing separate to lower payments even further for those last few?

My bad I misread!  

I'm crossing all my crossables for you all to join us in loan forgiveness land!!!!

[Jalapeñomel]

Apr 14, 2023 11:14:08 GMT -5 gretchenindisguise said:

Apr 14, 2023 10:38:56 GMT -5 bex1973 said:

Ultimately it's payment not months that get you to forgiveness

@jalepenomel - payment pause months count for PSLF regardless of payment. So yes - those months will count as long as you're at a qualifying employer.

But I don't expect it to go past the current pause. My guess is payments will start back up in September 2023 - so you'll only have to pay after that. 

Are you on an income based repayment? Able to do married filing separate to lower payments even further for those last few?

I also called over to Mohela, and she said that none of the forebearance stuff is in yet, so I have have three gaps with no months being counted, so it's looking good for me too! 

[imimahoney]

Apr 14, 2023 8:50:08 GMT -5 gretchenindisguise said:

Apr 14, 2023 3:54:26 GMT -5 imimahoney said:

So if I didn't consolidate until July and then applied 1 month later than I would get 1 month back?

Any months after consolidation and over the 120 mark will be refunded. But after the consolidation, you shouldn't have been paying because of the payment pause. Were you paying anyways?

I consolidated last spring and then started the application process but my payments weren't paused until 1 or 2 months later (hard to remember). I have to made a payment since Augustish.

[gretchenindisguise]

Apr 14, 2023 15:51:06 GMT -5 imimahoney said:

Apr 14, 2023 8:50:08 GMT -5 gretchenindisguise said:

Any months after consolidation and over the 120 mark will be refunded. But after the consolidation, you shouldn't have been paying because of the payment pause. Were you paying anyways?

I consolidated last spring and then started the application process but my payments weren't paused until 1 or 2 months later (hard to remember). I have to made a payment since Augustish.

Hmmm. Your payments should have been paused automatically once the consolidation to a direct loan was complete.

If they weren't - you can actually request those payments back now, before forgiveness. 

"Refunds During the Payment Pause

You can get a refund for any payment (including auto-debit payments) you make during the payment pause (beginning March 13, 2020). Contact your loan servicer to request that your payment be refunded."

From here: studentaid.gov/announcements-events/covid-19/payment-pause-zero-interest 

[imimahoney]

Apr 14, 2023 15:57:35 GMT -5 gretchenindisguise said:

Apr 14, 2023 15:51:06 GMT -5 imimahoney said:

I consolidated last spring and then started the application process but my payments weren't paused until 1 or 2 months later (hard to remember). I have to made a payment since Augustish.

Hmmm. Your payments should have been paused automatically once the consolidation to a direct loan was complete.

If they weren't - you can actually request those payments back now, before forgiveness. 

"Refunds During the Payment Pause

You can get a refund for any payment (including auto-debit payments) you make during the payment pause (beginning March 13, 2020). Contact your loan servicer to request that your payment be refunded."

From here: studentaid.gov/announcements-events/covid-19/payment-pause-zero-interest 

I think it's because the process took awhile for my application to go through (they were super backed up).

Besides that scenario, what other refunds would people be getting?

I wish I was getting my extra 30+ paymenta refunded!

[gretchenindisguise]

Apr 14, 2023 16:04:07 GMT -5 imimahoney said:

Apr 14, 2023 15:57:35 GMT -5 gretchenindisguise said:

Hmmm. Your payments should have been paused automatically once the consolidation to a direct loan was complete.

If they weren't - you can actually request those payments back now, before forgiveness. 

"Refunds During the Payment Pause

You can get a refund for any payment (including auto-debit payments) you make during the payment pause (beginning March 13, 2020). Contact your loan servicer to request that your payment be refunded."

From here: studentaid.gov/announcements-events/covid-19/payment-pause-zero-interest 

I think it's because the process took awhile for my application to go through (they were super backed up).

Besides that scenario, what other refunds would people be getting?

I wish I was getting my extra 30+ paymenta refunded!

People are also getting refunds for overpayment on their direct loan/direct consolidation loans for any payments after the 120th payment.

I'm a personal example of it - I consolidated to a direct consolidation loan back in 2012. And based on waiver rules for pslf - I completed my 10 year requirement in Jan 2019. So my forgiveness was back dated to then and I was refunded every payment after Jan 2019.

For anyone who consolidated their ffel loans or multiple direct loans to take advantage of the waiver they still came out way on top with the waiver (and now IDR adjustment). Prior to these two things - payments made to ffel loans or before consolidation would not have counted for pslf. For the ffel in particular, payments were made to private banking institutions and not the government, so the fact that the government is now counting them as though they were made to them is amazing, but they're obviously not going to refund money that wasn't paid to them.

Once this IDR adjustment period is over and everything goes back to traditional rules (Jan 2024), folks need to be careful about consolidation again.

[imimahoney]

Apr 14, 2023 16:52:25 GMT -5 gretchenindisguise said:

Apr 14, 2023 16:04:07 GMT -5 imimahoney said:

I think it's because the process took awhile for my application to go through (they were super backed up).

Besides that scenario, what other refunds would people be getting?

I wish I was getting my extra 30+ paymenta refunded!

People are also getting refunds for overpayment on their direct loan/direct consolidation loans for any payments after the 120th payment.

I'm a personal example of it - I consolidated to a direct consolidation loan back in 2012. And based on waiver rules for pslf - I completed my 10 year requirement in Jan 2019. So my forgiveness was back dated to then and I was refunded every payment after Jan 2019.

For anyone who consolidated their ffel loans or multiple direct loans to take advantage of the waiver they still came out way on top with the waiver (and now IDR adjustment). Prior to these two things - payments made to ffel loans or before consolidation would not have counted for pslf. For the ffel in particular, payments were made to private banking institutions and not the government, so the fact that the government is now counting them as though they were made to them is amazing, but they're obviously not going to refund money that wasn't paid to them.

Once this IDR adjustment period is over and everything goes back to traditional rules (Jan 2024), folks need to be careful about consolidation again.

Interesting.

I never consolidated until this program so I don't think I qualify for that type of refund.

I'm curious as to how much I'm actually getting back.

Thanks for all of the guidance and explanation!

[gretchenindisguise]

Apr 14, 2023 17:14:25 GMT -5 imimahoney said:

Apr 14, 2023 16:52:25 GMT -5 gretchenindisguise said:

People are also getting refunds for overpayment on their direct loan/direct consolidation loans for any payments after the 120th payment.

I'm a personal example of it - I consolidated to a direct consolidation loan back in 2012. And based on waiver rules for pslf - I completed my 10 year requirement in Jan 2019. So my forgiveness was back dated to then and I was refunded every payment after Jan 2019.

For anyone who consolidated their ffel loans or multiple direct loans to take advantage of the waiver they still came out way on top with the waiver (and now IDR adjustment). Prior to these two things - payments made to ffel loans or before consolidation would not have counted for pslf. For the ffel in particular, payments were made to private banking institutions and not the government, so the fact that the government is now counting them as though they were made to them is amazing, but they're obviously not going to refund money that wasn't paid to them.

Once this IDR adjustment period is over and everything goes back to traditional rules (Jan 2024), folks need to be careful about consolidation again.

Interesting.

I never consolidated until this program so I don't think I qualify for that type of refund.

I'm curious as to how much I'm actually getting back.

Thanks for all of the guidance and explanation!

If you look at the date our consolidation was funded - it should be any payment made after that date (since you're over 120) and because it was covid times.

[pumpkin]

Apr 13, 2023 22:22:16 GMT -5 pinotgrig said:

I haven’t posted in this thread yet, but have been following along to help FI. After a few errors and a lot of time on hold, he got his letter forgiving his $61k in student loans a week or so ago. 🥳🥳 Thanks to all in this thread and especially to gretchenindisguise!

Yay!! Congrats!!!

[reginaphalange72]

Apr 14, 2023 15:57:35 GMT -5 gretchenindisguise said:

Apr 14, 2023 15:51:06 GMT -5 imimahoney said:

I consolidated last spring and then started the application process but my payments weren't paused until 1 or 2 months later (hard to remember). I have to made a payment since Augustish.

Hmmm. Your payments should have been paused automatically once the consolidation to a direct loan was complete.

If they weren't - you can actually request those payments back now, before forgiveness. 

"Refunds During the Payment Pause

You can get a refund for any payment (including auto-debit payments) you make during the payment pause (beginning March 13, 2020). Contact your loan servicer to request that your payment be refunded."

From here: studentaid.gov/announcements-events/covid-19/payment-pause-zero-interest 

A little caveat to this that I learned the hard way recently - they are denying refunds of any payments you made if you consolidated after March 2020 (so, you know, basically everybody who is applying for the PSLF waiver...). So there goes the $8k I was hoping to get back. Any it didn't matter that those extra payments I made were before I consolidated, and with the same servicer that I'm back with again now (Mohela). Since I consolidated after March 2020, they said I'm SOL.

Oh, and they never followed up with me to tell me this was the case, so they just denied the refund and moved on and never contacted me to tell me about it. I ended up calling them to find out what the status was.

[gretchenindisguise]

Apr 14, 2023 18:03:21 GMT -5 reginaphalange72 said:

Apr 14, 2023 15:57:35 GMT -5 gretchenindisguise said:

Hmmm. Your payments should have been paused automatically once the consolidation to a direct loan was complete.

If they weren't - you can actually request those payments back now, before forgiveness. 

"Refunds During the Payment Pause

You can get a refund for any payment (including auto-debit payments) you make during the payment pause (beginning March 13, 2020). Contact your loan servicer to request that your payment be refunded."

From here: studentaid.gov/announcements-events/covid-19/payment-pause-zero-interest 

A little caveat to this that I learned the hard way recently - they are denying refunds of any payments you made if you consolidated after March 2020 (so, you know, basically everybody who is applying for the PSLF waiver...). So there goes the $8k I was hoping to get back. Any it didn't matter that those extra payments I made were before I consolidated, and with the same servicer that I'm back with again now (Mohela). Since I consolidated after March 2020, they said I'm SOL.

Oh, and they never followed up with me to tell me this was the case, so they just denied the refund and moved on and never contacted me to tell me about it. I ended up calling them to find out what the status was.

Yeah, unfortunately consolidation erases any chance for refund from the old loan because it pays off the old loan and creates a new one. Since the old loan is paid, they can't refund you from it.

If you had paid after consolidation, which imaimahoney was potentially talking about, then you would get refunded those payments from the new loan that were over the 120 mark or paid during covid pause months.

[underwaterrhymes]

It’s official! A little over a year after applying, my loan is wiped out! 🎉🍾🤸

[bex1973]

Hooray!!!! I saw on FB today that another round went through so I was hoping some ML folks would be in that group!!!

[wanderingback]

Apr 27, 2023 9:24:03 GMT -5 underwaterrhymes said:

It’s official! A little over a year after applying, my loan is wiped out! 🎉🍾🤸

Wahoo!

So 1 year after you had enough payments is how long it took them to forgive them?

I’m just fantasizing about quitting my job so don’t want to get overly excited that it’ll be a fast process once I get to 120, lol.

[gretchenindisguise]

Apr 27, 2023 9:24:03 GMT -5 underwaterrhymes said:

It’s official! A little over a year after applying, my loan is wiped out! 🎉🍾🤸

Yayayayayayayay!!!!

Congratulations!!!!

[gretchenindisguise]

Apr 27, 2023 11:42:17 GMT -5 wanderingback said:

Apr 27, 2023 9:24:03 GMT -5 underwaterrhymes said:

It’s official! A little over a year after applying, my loan is wiped out! 🎉🍾🤸

Wahoo!

So 1 year after you had enough payments is how long it took them to forgive them?

I’m just fantasizing about quitting my job so don’t want to get overly excited that it’ll be a fast process once I get to 120, lol.

It's averaging 3-6 months once you hit 120. I'm hopeful it'll speed up a bit once most of the pslf waiver applications are processed. It also seems like Mohela is getting their legs under them a bit, which will help speed things up.

[underwaterrhymes]

Apr 27, 2023 11:42:17 GMT -5 wanderingback said:

Apr 27, 2023 9:24:03 GMT -5 underwaterrhymes said:

It’s official! A little over a year after applying, my loan is wiped out! 🎉🍾🤸

Wahoo!

So 1 year after you had enough payments is how long it took them to forgive them?

I’m just fantasizing about quitting my job so don’t want to get overly excited that it’ll be a fast process once I get to 120, lol.

Yours should be much faster. I was hindered by the fact I had the wrong loans at first and the first company that was managing denied me because I only had one loan. I thought they were just telling me I didn’t need to consolidate and finally figured out in October that no progress would be made until I attempted consolidation again.

Then I applied again and highlighted that I was eligible because it was for PSLF, and they had to go through the consolidation process and employment verification process all over again. So technically it’s just been since October due to my own ignorance.

[HoneySpider]

I'm still waiting for Mohela to update the count for my current employer, I've talked to them about it a few times and keep getting told it will be fixed, but we're not there yet. One time they added some payments, but not all. With it I will be well over 120, but in the meantime with the covid pause, payments keep getting added and now I'm only 2 months away. So I'll have 120 payments in June. I'm so ready to be done with this!

[Doggy Mommy]

Mine was forgiven this week! Yay! I wouldn’t have known about the waiver at all if I hadn’t heard about it here, so thank you all for posting about it!