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I'd rather not reveal the exact amount, but I will say it was nearly twice the amount I originally borrowed and that the amount I paid in monthly payments over the past 20+ years is nearly equal to the amount I borrowed in the first place. I'm grateful for the PSLF program, but it or something very similar should expanded to cover all student loan debt. Edit: I'm still getting e-mails from the PSLF reddit, and seems like Fed Loan Servicing is finally speeding things up a bit. Several people have had loans forgiven in under three months and one guy woke up to zero balance after only a month. hepcat fucked around with this message at 22:54 on Jul 7, 2021 |
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Jul 7, 2021 22:50
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Grats! I'm still waiting for someone to review my bank statements to show I made on time payments
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Jul 8, 2021 01:42
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https://www.cnn.com/2021/07/08/politics/federal-student-loan-servicing-contract-pheaa/index.html They were just starting to get a bit less lovely too. 
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Jul 9, 2021 18:52
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Oof...I had 6 figures of student loans with fedloan. Thank goodness I refinanced. It's not without its pitfalls but the only benefit to staying with fedloan was the predictability and it's not clear that is still going to be a factor.
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Jul 9, 2021 21:37
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Can't wait for all the paperwork to get lost
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Jul 10, 2021 01:29
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I took some more credit hours in community college and now they are putting me in deferment. is this going to interfere with the free pslf credit I got for making payments that I wasn't making due to the pandemic?
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Jul 14, 2021 18:25
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The Slack Lagoon posted:Can't wait for all the paperwork to get lost That and the inevitable automatic administrative forbearance that I don't want which will delay my PSLF qualification, cause a shitload of interest to capitalize, and cause them to not apply at least one of my payments (just like what happened when I sent in my first public service employment verification form and got my loans transferred to FedLoan)
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Jul 14, 2021 23:33
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Harold Fjord posted:I took some more credit hours in community college and now they are putting me in deferment. is this going to interfere with the free pslf credit I got for making payments that I wasn't making due to the pandemic? I'm pretty sure you can opt out of deferment to continue to make "payments" because yeah otherwise you're not going to get credit for the rest of the CARES Act months.
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Jul 14, 2021 23:43
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I made a video documenting my Student Loan Experience https://www.youtube.com/watch?v=wkDZwGbpfr8
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Jul 15, 2021 08:05
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FedLoan is making me tear my hair out a bit, and maybe some of it is my own drat fault. I got my HR department to fill out my final PSLF form and had to go back and forth with them over email to convince them to give me a "wet signature" since the Department of Ed won't accept some types of e-signatures and I didn't want to chance it. HR lady had no scanner at home, and when she finally sends me back the form she kinda hosed up the phone number and wrote over one of the numbers a few times to clarify it. Anyone with half a brain could just take an extra breath and read what it says, but this was apparently enough for the form to get jammed up in the process. Since I made HR redo the form twice already I did not push for a third try, which now I know I should have.  Form was submitted 5/24 and since then I've had 6 calls to them, and in the last three was told the form would be verified "in two weeks", "by Friday, or Monday at the latest", and now today "in 30-60 days but I really don't know for sure and I do not have the power to escalate this, it's in the task queue and someone will pick it up....sometime. It is frustrating as hell, I know." 
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Jul 15, 2021 17:23
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Ever since I started trying to get TEPSLF about a year ago I've been told it'll be "at least six months" for stuff to get processed/reviewed. PSLF got denied pretty fast, but I was on the wrong payment plan for it, so I feel like it was a quick fail-out. TEPSLF was denied in like 3months because of a problem with paying extra. I've been waiting since April for someone to review my bank statements to coorelate them to the "paying within 15 days of your due date" requirement. I did an e-signature thing last year no problem. I'm waiting for my HR to give me their copy to try again this year... I hope that's not going to be trouble now.
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Jul 15, 2021 18:51
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Well it took 2 months and 7 phone calls but Fedloan finally updated my payment count and it now reflects 120 payments—on all but two of the loans.  They should all have the exact same number so there is a fuckup somewhere, but I know asking them to do a recount could take months. They are both at 119 so I am going to just submit another ECF to count the two "payments" made since I submitted my last form on 5/24.Of course I have to wait another week because my HR lady still has no scanner at home.
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Jul 23, 2021 15:01
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Maggie Fletcher posted:A bunch of stuff about refinancing to be private Any updates on this, are you still feeling like it’s the right decision? I’m in exactly the same bit and it’s looking like the student loan forebearance is not going to get extended so I’m thinking about refinancing at the low rate, it should save us about 10 grand over the life of the loan it looks like.
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Aug 4, 2021 17:00
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JackBandit posted:Any updates on this, are you still feeling like it’s the right decision? I’m in exactly the same bit and it’s looking like the student loan forebearance is not going to get extended so I’m thinking about refinancing at the low rate, it should save us about 10 grand over the life of the loan it looks like. I wouldn't suggest it if you plan on buying a house or getting credit anytime soon. It takes a couple of months for the disbursements to be acknowledged by the recipients, then they have to true up the math, and for a while there's an overlap between the refi and original student loan guarantors reporting to the credit reporting agencies. Currently, it looks like I owe close to $600K in student loans and it'll be another month or so before that is corrected. Fortunately I planned this so that I wouldn't need credit anytime soon, and the inquiry is coming on right around the time a bunch of other ones are coming off. I haven't made the first payment on the new loan yet, that's coming in a couple of weeks, but overall just knowing I have only one loan versus nine or so, plus the lower interest rate, plus knowing they'll be paid off in ten years versus....someday, maybe...I do think it was a good idea. Especially knowing now that fedloan has sold its loans, and that made up the bulk of my loans. So overall, yeah. Thanks for asking. I think if you're not anticipating needing credit in the next 3-4 months, and you're comfortable and certain in your ability to repay, and not eligible for forgiveness, I highly recommend it if it fits your needs. And it was asked upthread if I could afford the loan if, say, my spouse lost her job, and I mentioned that I can....just....cover everything on my salary, including loans/mortgage/etc., but fortunately I won't need to, since she is about to take a much higher-paying job, so I'm even more comfortable with my decision.
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Aug 5, 2021 03:11
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Got denied pretty fast, seems like it turned around in 10 days. Still seems like nobody's reviewed my bank statements. Thanks to the latest application it now says I need 39 more eligible payments. I've uploaded 41 months of statements showing I made the payment within 15 days of the due date. I'm so close -_- On the phone right now to make sure yet again that someone's going to look at these files I uploaded. e: Now they're saying when I swapped servicers I didn't make a full payment so I was technically behind, and that I should ask for forbearance on two specific months (one in 2015, the other 2017) to catch me up/make me ahead, and that more eligible payments should start being counted once approved. Seems like they can't just look at my bank statements and see, "Yeah they made a full payment that month, check" Aexo fucked around with this message at 20:32 on Aug 5, 2021 |
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Aug 5, 2021 19:44
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JackBandit posted:Any updates on this, are you still feeling like it’s the right decision? I’m in exactly the same bit and it’s looking like the student loan forebearance is not going to get extended so I’m thinking about refinancing at the low rate, it should save us about 10 grand over the life of the loan it looks like. February now! 
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Aug 6, 2021 21:22
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Residency Evil posted:February now! Hell yeah that rules. Also as of today FedLoan has certified all my loans as having 120(+) eligible payments under PSLF!
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Aug 6, 2021 22:12
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Do you keep paying until the forgiveness is approved or can you just stop at 120.
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Aug 6, 2021 22:23
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Harold Fjord posted:Do you keep paying until the forgiveness is approved or can you just stop at 120. You can choose to go into an administrative forbearance or keep paying and I chose the former.
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Aug 6, 2021 22:34
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Sirotan posted:Hell yeah that rules. Congrats!
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Aug 6, 2021 22:35
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Department of Education emailed me to tell me my loans are getting 100% forgiven. I have been waiting and hoping so long for this, gently caress you ITT Tech!
Umbreon fucked around with this message at 05:31 on Aug 17, 2021 |
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Aug 15, 2021 19:11
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Umbreon posted:Department of Education emailed me to tell me my loans are getting 100% forgiven. I have been wait and hoping so long for this, gently caress you ITT Tech! This is awesome!! Congratulations!
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Aug 16, 2021 14:56
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Sirotan posted:Hell yeah that rules. Huzzah, congratulations! Umbreon posted:Department of Education emailed me to tell me my loans are getting 100% forgiven. I have been wait and hoping so long for this, gently caress you ITT Tech! That's also hella cool!
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Aug 17, 2021 01:31
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I have made something like 110 payments* on my direct consolidated graduated repayment plan for my 501(c)(3) PSLF-qualified employer. I went to use the PSLF Help Tool today and it tells me that none of my loans are on track for either PSLF because I wasn't on an income-driven repayment plan for any of these payments, and I'm not eligible for TEPSLF because my loans are currently in deferment/forbearance (the COVID forbearance). It looks like my graduated plan should qualify for TEPSLF; I also understand that TEPSLF is limited funding and I shouldn't bank on it. There's also this cryptic passage: quote:As stated above, the months you spend in forbearance during the COVID-19 payment pause count toward PSLF, provided you have qualifying employment. You do not need to contact your servicer to change your loan status. And I don't know if that means that the months — with no payments made — should qualify me for TEPSLF? Because then I would have over 120 months (I have actually been at my employer and making payments since Aug 2009, but didn't consolidate my loans until 2013).* I have 6k left, so it's not life-changing under any scenario, but would definitely be nice if I can figure out how to get as much forgiveness as I can (pls just forgive under 10k of loans Uncle Joe). I'm also trying to figure out if I should change how much I have been paying considering several years ago I just picked a round number that was over the minimum expected by my graduated plan because I don't know I was 26 and internalizing that I should pay it off as quickly as possible. * how do you actually tell how many payments you have made? I can't for the life of me figure out on either Nelnet or the federal site. Petey fucked around with this message at 12:34 on Aug 19, 2021 |
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Aug 19, 2021 12:26
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Petey posted:I have made something like 110 payments* on my direct consolidated graduated repayment plan for my 501(c)(3) PSLF-qualified employer. I went to use the PSLF Help Tool today and it tells me that none of my loans are on track for either PSLF because I wasn't on an income-driven repayment plan for any of these payments, and I'm not eligible for TEPSLF because my loans are currently in deferment/forbearance (the COVID forbearance). Are your loans currently serviced by Nelnet or Fedloan? I know for PSLF you need to have them serviced by Fedloan before you can officially begin the forgiveness process, and I am pretty sure* that is also the case for TEPSLF. If you have not already done so you'll need to fill out the PSLF/TEPSLF certification form which will assess how many payments you've already made and will transfer your loans to Fedloan for servicing.
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Aug 19, 2021 14:35
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Sirotan posted:Are your loans currently serviced by Nelnet or Fedloan? I know for PSLF you need to have them serviced by Fedloan before you can officially begin the forgiveness process, and I am pretty sure* that is also the case for TEPSLF. If you have not already done so you'll need to fill out the PSLF/TEPSLF certification form which will assess how many payments you've already made and will transfer your loans to Fedloan for servicing. Nelnet. Thanks for the link on the form, I'll fill it out. e: wait, when I go to the Fedloan website, it says they're discontinuing their contract. Do I need to switch to them before I can send this form in? Petey fucked around with this message at 15:59 on Aug 19, 2021 |
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Aug 19, 2021 14:37
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I was also on the graduated payment plan for my consolidated loans for the longest time, all while working at a qualifying institution. When the covid forbearance hit I applied for an income based repayment plan and it wound up being around what I was already paying. This transferred the loans to FedLoan, making them my third servicer. Those covid months have counted toward my number of valid payments. My understanding is FedLoan is where you need to be to receive the PSLF/TEPSLF and submitting the certification form should kick off a transfer from your current servicer to them. Last week I spoke to someone about my ongoing woes and asked about the impending changing of hands because I feel like that could adversely affect my review and that's an unknown.
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Aug 19, 2021 18:30
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5 of 7 loans forgiven as of today. Had to resubmit the form for the other two so hopefully they will be zero'd out in about a week????
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Sep 2, 2021 14:15
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 My ex-Wells Fargo (now Firstmark since they bought out WF's student loan department or whatever back in March) private debt is now gone and I've never felt more free. For some reason, Wells Fargo selling their loans off to Firstmark really lit a fire under my rear end to just get rid of these private loans ASAP this spring. Corona has been weirdly good to me financially (in no small part due to the pause on my federal loans + lower cost of living due to permanent WFH), so I've been pumping basically my entire paycheck every month into nuking the private loans as soon as possible. And now the last one has been made. I still have 10k with Navient from Department of Education loans, but thankfully those are still paused until January. Going to use the next couple months to rebuild a little bit of a buffer in my now-depleted bank account and then pursue the same all-the-paychecks strategy to get those paid down by next summer and finally become completely, 100% debt-free, 13 years after graduating. Or maybe Biden surprises us all and does something dramatic re: the student debt crisis haha no
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Sep 2, 2021 14:43
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Congratulations to both of you!
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Sep 2, 2021 15:21
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Nice job both of you.
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Sep 2, 2021 16:26
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After emailing Betsy at freestudentloanadvice about my woes getting my valid number of payments corrected, she emailed her "contact at the feds" as she put it. Within two days I had an updated count and the website invited me to apply for forgiveness. So I did. I was denied in a few short days because "the employment start date was illegible" When I called them they said any variation in the date can make them deny it. An initial next to the date should appease the application reviewers. The thing that gets me is, it's not like my employment start date has changed across my many applications. Shouldn't that stuff be on record? Ugh, just more hoops to jump through. I'm really worried it's going to get *just* to the point it would be forgiven but then the servicer will change yet again and I'll have to do all this all over again. This is my only remaining debt, I just want it gone!
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Sep 27, 2021 14:34
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Aexo posted:After emailing Betsy at freestudentloanadvice about my woes getting my valid number of payments corrected, she emailed her "contact at the feds" as she put it. Within two days I had an updated count and the website invited me to apply for forgiveness. So I did. I've had a bunch of dumb little issues with my paperwork too, but it is still chugging along. You will get there. Just know too that once FedLoan said they weren't interested in renewing the PSLF servicing contract, they lost a ton of employees and have now had to offer incentives to keep people, so there are less people processing these and probably the really good ones already GTFO. There is also no new servicer lined up so I doubt any loans will be transferred elsewhere in December. Even if they were, you should be in forbearance during that time. But I totally get it, and I want to be done with the process too.
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Sep 27, 2021 14:45
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Not trying to get political but ever since Devos and Trump left I've had a lot faster turn-around times on applications and shorter waits on hold to speak to a human, the application was denied in like two days. If they can deny in two days that means someone's looking at it at least fairly quickly. Used to be months between communications now it's like the same/next week.
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Sep 27, 2021 16:14
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Potential big news for PSLF: NPR Exclusive: Troubled Public Service Loan Forgiveness program will get overhaul https://www.npr.org/2021/10/01/1041872045/education-dept-plans-to-overhaul-the-troubled-public-service-loan-forgiveness-pr?sc=18&f=1001 Couple major points: quote:According to the source familiar with the Education Department's plans, the agency will offer a temporary opportunity for anyone working in public service to get prior loan payments counted toward PSLF — even if those payments were going toward disqualified FFEL loans.
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Oct 3, 2021 00:31
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That's amazing news. I hope it becomes easier for folks to get forgiveness, and for more folks to get it! My father is an avid 60 Minutes viewer. I guess they recently did a piece on PSLF too. https://www.cbsnews.com/amp/news/student-loan-debt-forgiveness-public-service-60-minutes-2021-10-03/ Eagerly/patiently waiting on my re-application to get approved.
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Oct 4, 2021 15:33
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This is such amazing news. My wife won't be eligible for PSLF until ~2025 so we were able to navigate the process easier in part due to those who suffered with loan servicers poor direction and the department of ed acting in bad faith with borrowers. Glad to see those who were basically scammed getting some relief.
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Oct 4, 2021 15:56
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I fall in to this camp, since I lost 2 years of PSLF payments back when I consolidated loans that were only technically eligible for PSLF after consolidation. It's gonna make it that much more painful when I'm ineligible for PSLF by <1 year of payments.  Maybe partial PSLF will be on the table, or potentially reclassifying more medical jobs as public service.
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Oct 4, 2021 16:50
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Stolen from the megathread in /r/PSLF: https://old.reddit.com/r/PSLF/comments/q28msw/pslf_changes_megathread_post_all_questions_etc/quote:The Department of Education will announce the following changes today for the PSLF program. Note there are two pieces to this - the immediate, but temporary changes versus the future, permanent changes. The immediate changes have nothing to do with the current negotiated rulemaking process. The future, permanent changes will be done through neg reg.
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Oct 6, 2021 13:49
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Residency Evil posted:I fall in to this camp, since I lost 2 years of PSLF payments back when I consolidated loans that were only technically eligible for PSLF after consolidation.
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Oct 6, 2021 13:54
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