You guys at Student Loan Planner are a God-send! Thank you for being a steady guide, even to those of us who are not official clients of your service. Thank you! Thank you! Thank you!
Just got told from a Mohela rep today that they aren't processing any requests to switch to IBR at this time (I'm on save and on PSLF). I was told a date of 1/31 when they will possibly start processing.
I don’t understand how MOHELA can do that. IBR is guaranteed by legislation…how do they have any legal standing to just say “yeah, we’re not going to let you elect that right now”?
I’m on the IBR and EdFinancial put my account on administrative forbearance. I told them to take me out of forbearance and they told me no. They told me it will stay like this until February. Super frustrating
I have a question: I am on the PSLF program and have about 6-8 months remaining to finish paying my 120 payments to PSLF; I'm in forbearance, but what are my options ? please advise? thanks.
I'm in year 8 of teaching in public schools and am on the SAVE PSLF plan. I have 61 qualifying payments, quite a few months listed as "ineligible" for a qualifying payment and 19 months listed as "employment not certified." Will the months of uncertified employment change to a qualifying payment month once I have my qualifying employer verified? Also, am I able to pay on the ineligible months to have them count as qualifying payments?
I’ve got 10 years of eligible employment while in pslf but two years I went back to school while working so was put in forbearance. I have already consolidated and certified my employment. According to their site I qualify but from what you’re saying it sounds like I don’t.
this PSLF journey has been ridiculous. I met my 10-year repayment on my loans working in government in 2016, Being these loans were FFEL's, I consolidated to the US DIrect loans prior to April 30th this year,. I had the application in but was not told to be in a IDR plan. Now that this pause is in effect, is my PSLF app a no go? What other plans can be accepted under the PSLF process?
I’m not convinced they are actually processing PSLF buyback applications. I submitted mine on 8/31/24 and haven’t heard anything back yet. I had 8 payments to buy back at that time and only have 6 now. I called to get an ETA and Ed Dept could not provide none. They just said typical wait times are 90 days for anything right now. But they did say that the number of months I can buyback will become fewer the longer it takes them to review my application. This only matters because I pay $800+ per month now and the payments I would buy back are all $200-400. So the longer this takes, the fewer cheaper payments I’ll be buying back. Has anyone successfully achieved PSLF through the PSLF buyback or was this program just an idea with no implementation strategy?
@@meaganmcguire5857that’s fantastic news!! Thanks for the update! I’ll make sure to chime back in here in the comments section of this video if/when I hear anything back on my buyback request. Thanks again for this ray of sunshine!
I submitted 8/29. Ive called and they wont give any information but that its in review and they wont let you talk to anyone who actually is working on it so I dont feel like they are even doing anything
I had some success today with at least getting two employment certifications approved (I submit employment certificates monthly now that I have a PSLF buyback application in and am at 123 months of PSLF qualifying employment). And ED Dept. fixed an error in my payment count today where they just completely missed giving me credit for 6/24’s payment. So as it stands now, I’m current on months of employment certifications. So actions are happening. Just not my PSLF buyback request from 8/31/24 yet.
@@steveshow-tos5394 Yea apparently when I submitted my employment stuff, I submitted the paper copy online but my employer did a fax and that processed in 1 month but online copy never has. Thats cool you can submit every month, that would be a lot for my employer to do constantly bc they refuse to do electronic submission. I was at 120 when I submitted buyback so hopefully thats enough
He can dismantle the Department of Education who is responsible for approving employment certifications and updating payment counts. I've been fighting with MOHELA and Dept of Ed for 7 months trying to get them to update my payment count to 120. I don't care what these scammers do at this point, I've had these loans for 14 years and I'm done dealing with all the loopholes and tricks they pull.
Keep up the fight! My loans were forgiven last year, and I can't even describe the feeling of freedom from that financial burden. I would have died owing student loans.
I have my loans forgiven, and both Dept of Ed and Mohela sent be letters indicating zero balance. Mohela refuses to take the loan off my credit reports. Why?
Mohela doesn't decide what is and isn't on your credit report other than still reporting the loans to the credit bureaus. You should send those letters to the three credit bureaus and ask them to remove the loans from your credit report.
Interesting. I’m on paye as you earn. Still making monthly payments, 3 Years left. I’m lucky I didn’t switch to save. Also, my lender is Aid Advanatage
I was in PSLF, and while in PSLF my plan was grandfathered ICR. I also consolidated and had Covid months added to my 120 payments. I was forgiven 2 days ago. Am I at risk of losing it all?
Unfortunately it's not as easy as one would think to switch repayment plans. If you're with Mohela and want to get out of the SAVE plan you are only able to do graduated repayment which won't count for PSLF so you're stuck waiting. Any suggestions on that?
IBR as a whole does count towards PSLF because they were designed for that reason. I just applied to switch from SAVE to IBR. 90 days to process is the frustrating part.
Only thing feels safe if my ability to get aggressive in paying off this last loan. Still at 0% till save ends I should make larger payments I hate don’t count towards IDR forgiveness
can someone answer this - if I took out one years worth of loans before the new IBR period starts, but the majority of my following loans are past the new IBR ruling. does that mean ALL of my loans will be based of of the 15% discretionary income rate? or would it be split where the loans taken out in 2013 are at 15% payments and the rest are 10?
I have the same exact question, considering my undergrad loans were not paid off, and they were 2010-2014. My grad loans were 2018-2021. Am I considered the old IBR or the new?
@@meaganmcguire5857 cool so I just looked it up and a single 3500$ loan is going to cost me an enormous amount of money. can I pay off this single loan and then qualify for 10% payments?
I’m a recent graduate and my first loan repayment it set for the end of THIS MONTH! I applied for PSLF since many of my coworkers are on this program and they responded with “You have employment that was previously certified but we determined the employer was ineligible for the PSLF Program for periods of time that affected you.” What does this mean? What do I do? My repayment is set to be very high and I will not be able to sustain this long-term. Please let me know if you have any advice. Thank you.
I am over 100 qualifying payments towards PSLF. I have a little less than 2 years left until forgiveness. If Trump cancels PSLF program, am I grandfathered in since I have been on a payment plan provided to me for 8 years already or will this only impact future PSLF applicants?
Similar situation here. We don't know for sure but I would be shocked (as much as is possible in 2024 LoL) if they axed PSLF *and* didn't grandfather people in. But you never know so let's be ready to jump onto a giant class action lawsuit if this does happen. There will be thousands of us. They can't expect us to take that sh*t after working 8-9 years in non profits, making less specifically for this reason.
System broke calls with loan servicers So painful it was like pulling teeth with Fedloans get all payments under 0% at COVID to go to one loan even after sending in payments letters 2x. I may need start file separately bc I don’t work here does. I file taxes myself anyway hubby is lazy he makes money but won’t budget tax prep
What about ppl who consolidated the PSLF loans and got the count of the highest of PSLF loan applied to the "new loan". Will that still stay in affect?
not sure if it requires 60 senators since it involves revenue and spending. Which only requires a simple majority. But not completely sure. I guess a senate parliamaritian have to make that decision
@@bennguyen9202 Yes, you can be on SAVE while also on PSLF, as that is what I'm currently doing. The trouble is that there is an issue with SAVE, and MOHELA won't process applications for those of us who want to move from SAVE to IDR until January.
I am at 119/120 payments and it’s stuck there… what should I even do? I’ve reapplied, re-certified employment, I’ve gone in circles with customer service… I’m losing my mind here. $317k
YES! They will reset everyone's student loan back to square 1 and no one will receive a refund for payments already made. Everyone's loan will then have an 85% interest rate, AND they're allowed to take 90% of your weekly or bi-weekly paycheck to pay it back! 😈😈😈
I’m not sure what’s going to happen to my PSLF, I made my 120th payment in August which doesn’t count because of the forbearance. I’ve been waiting for an update on my payment count since mid-September when I submitted my last employer certificating. I’ve been told to wait for my updated payment count (119) and buyback that last payment but not to do the buyback until my payment count is updated. How much longer do I need to wait! I’m panicking that it won’t happen until Trump takes office. What should I do?
You keep talking about how the PSLF and IBR are safe because they were enacted through legislation in Congress. Please keep in mind that the GOP now holds a majority in the Senate. Furthermore, it appears the GOP will hold a majority in the House. Therefore, there's not enough Democrats in the House or Senate to block any GOP plans, regarding blocking student loan forgiveness or ending PSLF, from getting to Trump's desk to sign into law.
If they do change the laws for PSLF, it will only affect those in the future. Anyone that signed for a U.S student loan will be eligible due to the fine print on the note at the bottom of the loan.
Government workers should not get special benefits like 10 yr vs 20 year forgiveness. 20 years is a bulk of a persons life in adulthood. Anyhow, my job as a service technician is needed for many government businesses, healthcare, fire, police, etc... I serve the public every single day. But I do not qualify because I am a contractor. It is like racism but for government employees over non government employees.
I’m on the IBR and EdFinancial put my account on administrative forbearance. I told them to take me out of forbearance and they told me no. They told me it will stay like this until February. Super frustrating
We will update this blog with more information. Read more on this topic here: www.studentloanplanner.com/trump-repealing-pslf/
Thank you!!!!
You guys at Student Loan Planner are a God-send! Thank you for being a steady guide, even to those of us who are not official clients of your service. Thank you! Thank you! Thank you!
pay back your loans sweetie and stop begging
I hope this is not repealed! I received forgiveness in August and it was life changing. Good luck to everyone nearly there!
Just got told from a Mohela rep today that they aren't processing any requests to switch to IBR at this time (I'm on save and on PSLF). I was told a date of 1/31 when they will possibly start processing.
It’s so frustrating. I submitted a complaint with students.gov over this and it went no where. I just want to pay.
Don't apply on Mohela because you will go nowhere except frustration, and refusal to help anyone. Try Aidvantage and EdFinancial instead.
You don’t get to choose your loan servicer
I don’t understand how MOHELA can do that. IBR is guaranteed by legislation…how do they have any legal standing to just say “yeah, we’re not going to let you elect that right now”?
I called and they refused to place me on IBR too. They said all applications are frozen
I’m on the IBR and EdFinancial put my account on administrative forbearance. I told them to take me out of forbearance and they told me no. They told me it will stay like this until February. Super frustrating
But we can't switch right now to IBR.....they took down the link to apply to change and aren't processing requests to change to IBR.
The link still works in studentaid.gov!
What about the Biden Wiaver for PSLF. Are we safe if we have had our loans forgiven under the wiaver?
I have a question: I am on the PSLF program and have about 6-8 months remaining to finish paying my 120 payments to PSLF; I'm in forbearance, but what are my options ? please advise? thanks.
I'm in year 8 of teaching in public schools and am on the SAVE PSLF plan. I have 61 qualifying payments, quite a few months listed as "ineligible" for a qualifying payment and 19 months listed as "employment not certified." Will the months of uncertified employment change to a qualifying payment month once I have my qualifying employer verified? Also, am I able to pay on the ineligible months to have them count as qualifying payments?
how would they calculate that buyback payment if you were on save? 120 months in December 2024. IBR? PAYE?
Possibly IBRs calculation for those months
@@meaganmcguire5857 for 2023 income levels?
I’ve got 10 years of eligible employment while in pslf but two years I went back to school while working so was put in forbearance. I have already consolidated and certified my employment. According to their site I qualify but from what you’re saying it sounds like I don’t.
Trust the dept of Ed’s payment count towards PSLF
this PSLF journey has been ridiculous. I met my 10-year repayment on my loans working in government in 2016, Being these loans were FFEL's, I consolidated to the US DIrect loans prior to April 30th this year,. I had the application in but was not told to be in a IDR plan. Now that this pause is in effect, is my PSLF app a no go? What other plans can be accepted under the PSLF process?
I’m not convinced they are actually processing PSLF buyback applications. I submitted mine on 8/31/24 and haven’t heard anything back yet. I had 8 payments to buy back at that time and only have 6 now. I called to get an ETA and Ed Dept could not provide none. They just said typical wait times are 90 days for anything right now.
But they did say that the number of months I can buyback will become fewer the longer it takes them to review my application. This only matters because I pay $800+ per month now and the payments I would buy back are all $200-400. So the longer this takes, the fewer cheaper payments I’ll be buying back.
Has anyone successfully achieved PSLF through the PSLF buyback or was this program just an idea with no implementation strategy?
We’ve seen some people get responses from PSLF buyback for amounts to pay, waiting on actual discharge after payment.
@@meaganmcguire5857that’s fantastic news!! Thanks for the update! I’ll make sure to chime back in here in the comments section of this video if/when I hear anything back on my buyback request. Thanks again for this ray of sunshine!
I submitted 8/29. Ive called and they wont give any information but that its in review and they wont let you talk to anyone who actually is working on it so I dont feel like they are even doing anything
I had some success today with at least getting two employment certifications approved (I submit employment certificates monthly now that I have a PSLF buyback application in and am at 123 months of PSLF qualifying employment). And ED Dept. fixed an error in my payment count today where they just completely missed giving me credit for 6/24’s payment. So as it stands now, I’m current on months of employment certifications. So actions are happening. Just not my PSLF buyback request from 8/31/24 yet.
@@steveshow-tos5394 Yea apparently when I submitted my employment stuff, I submitted the paper copy online but my employer did a fax and that processed in 1 month but online copy never has. Thats cool you can submit every month, that would be a lot for my employer to do constantly bc they refuse to do electronic submission. I was at 120 when I submitted buyback so hopefully thats enough
3:30 PSLF payments do not need to be consecutive.
He can dismantle the Department of Education who is responsible for approving employment certifications and updating payment counts. I've been fighting with MOHELA and Dept of Ed for 7 months trying to get them to update my payment count to 120. I don't care what these scammers do at this point, I've had these loans for 14 years and I'm done dealing with all the loopholes and tricks they pull.
Keep up the fight! My loans were forgiven last year, and I can't even describe the feeling of freedom from that financial burden. I would have died owing student loans.
Yep. Never underestimate how much tRump and MAGA HATE the rest of us.
I have my loans forgiven, and both Dept of Ed and Mohela sent be letters indicating zero balance. Mohela refuses to take the loan off my credit reports. Why?
Mohela doesn't decide what is and isn't on your credit report other than still reporting the loans to the credit bureaus. You should send those letters to the three credit bureaus and ask them to remove the loans from your credit report.
I have 116 payments and have no clue what to do
Same here I have 118 payments and paused it. No clue when it is going to back to normal.
Interesting. I’m on paye as you earn. Still making monthly payments, 3
Years left. I’m lucky I didn’t switch to save.
Also, my lender is Aid Advanatage
Ugh my lender suggested (strongly) that I switch to SAVE which sent me to AIDvantage from Navient. It is such a joke game they are playing.
I was in PSLF, and while in PSLF my plan was grandfathered ICR. I also consolidated and had Covid months added to my 120 payments. I was forgiven 2 days ago. Am I at risk of losing it all?
Same question. Mine was forgiven in January of this year. Could they repeal that as well?
I don't think that's possible but you never know. Congrats on getting forgiven! Hope to join you soon.
Unfortunately it's not as easy as one would think to switch repayment plans. If you're with Mohela and want to get out of the SAVE plan you are only able to do graduated repayment which won't count for PSLF so you're stuck waiting. Any suggestions on that?
IBR as a whole does count towards PSLF because they were designed for that reason. I just applied to switch from SAVE to IBR. 90 days to process is the frustrating part.
@@TheLenette4 apply on studentaid.gov not Mohela
Would a Parent PLUS Loan borrower who direct consolidated into ICR be allowed to switch to IBR if ICR is repealed?
ICR will stay available for parent PLUS folks only
Only thing feels safe if my ability to get aggressive in paying off this last loan. Still at 0% till save ends I should make larger payments I hate don’t count towards IDR forgiveness
can someone answer this - if I took out one years worth of loans before the new IBR period starts, but the majority of my following loans are past the new IBR ruling. does that mean ALL of my loans will be based of of the 15% discretionary income rate? or would it be split where the loans taken out in 2013 are at 15% payments and the rest are 10?
Yes, 15%. The eligibility rule is all or nothing
I have the same exact question, considering my undergrad loans were not paid off, and they were 2010-2014. My grad loans were 2018-2021. Am I considered the old IBR or the new?
@@SAreamusic1 old if they were not paid off in full before 7/1/2014
@@meaganmcguire5857 cool so I just looked it up and a single 3500$ loan is going to cost me an enormous amount of money.
can I pay off this single loan and then qualify for 10% payments?
I’m a recent graduate and my first loan repayment it set for the end of THIS MONTH! I applied for PSLF since many of my coworkers are on this program and they responded with “You have employment that was previously certified but we determined the employer was ineligible for the PSLF Program for periods of time that affected you.” What does this mean? What do I do? My repayment is set to be very high and I will not be able to sustain this long-term. Please let me know if you have any advice. Thank you.
I also applied for an IDR plan which they said they placed a forbearance on my account while they process this.
I am over 100 qualifying payments towards PSLF. I have a little less than 2 years left until forgiveness. If Trump cancels PSLF program, am I grandfathered in since I have been on a payment plan provided to me for 8 years already or will this only impact future PSLF applicants?
Similar situation here. We don't know for sure but I would be shocked (as much as is possible in 2024 LoL) if they axed PSLF *and* didn't grandfather people in. But you never know so let's be ready to jump onto a giant class action lawsuit if this does happen. There will be thousands of us. They can't expect us to take that sh*t after working 8-9 years in non profits, making less specifically for this reason.
System broke calls with loan servicers So painful it was like pulling teeth with Fedloans get all payments under 0% at COVID to go to one loan even after sending in payments letters 2x. I may need start file separately bc I don’t work here does. I file taxes myself anyway hubby is lazy he makes money but won’t budget tax prep
What about ppl who consolidated the PSLF loans and got the count of the highest of PSLF loan applied to the "new loan". Will that still stay in affect?
Yes!
You cannot switch right now. So what do you do then?
It is possible that the Senate and House with a simple majority could get rid of PSLF or IBR. How likely that is to happen, I don’t know.
Anything can happen, but these have been in place since George Bush. So why would they do that now?
It would take 60 senators so some democrats will have get rid of PSLF which is unlikely. PSLF should be safe Save plan probably not
not sure if it requires 60 senators since it involves revenue and spending. Which only requires a simple majority. But not completely sure. I guess a senate parliamaritian have to make that decision
I'm technically 10 months away from being 120 eligible. Locked into the hell that is SAVE. Any thoughts as to what I should do?
save program is not eligible for pslf. should not have listened to brandon
@@bennguyen9202 Yes, you can be on SAVE while also on PSLF, as that is what I'm currently doing. The trouble is that there is an issue with SAVE, and MOHELA won't process applications for those of us who want to move from SAVE to IDR until January.
I am at 119/120 payments and it’s stuck there… what should I even do? I’ve reapplied, re-certified employment, I’ve gone in circles with customer service… I’m losing my mind here. $317k
What was the repayment plan before? PAYE?
How do I submit or prove I have a 401k to help my AGI?
Paystub with a written statement OR it will show on your w2 box 1 OR on your 1040 line 11, AGI
PLSF was in place when Trump was in office before so I'm not too worried about it.
I have 21 payments in. Will that be taken away?
No
@ Thank goodness. Thank you!
They will give you 5,000 more payments with an 80% interest rate.
@@techfeanology6437 It would not surprise me.
YES! They will reset everyone's student loan back to square 1 and no one will receive a refund for payments already made. Everyone's loan will then have an 85% interest rate, AND they're allowed to take 90% of your weekly or bi-weekly paycheck to pay it back! 😈😈😈
Thanks to PSLF those loans are in my rear view. I have little hope it will continue next year.
Why? Just talking out of your ass?
I’m not sure what’s going to happen to my PSLF, I made my 120th payment in August which doesn’t count because of the forbearance. I’ve been waiting for an update on my payment count since mid-September when I submitted my last employer certificating. I’ve been told to wait for my updated payment count (119) and buyback that last payment but not to do the buyback until my payment count is updated. How much longer do I need to wait! I’m panicking that it won’t happen until Trump takes office. What should I do?
Wont matter with no department of ed to sign off.
You keep talking about how the PSLF and IBR are safe because they were enacted through legislation in Congress. Please keep in mind that the GOP now holds a majority in the Senate. Furthermore, it appears the GOP will hold a majority in the House. Therefore, there's not enough Democrats in the House or Senate to block any GOP plans, regarding blocking student loan forgiveness or ending PSLF, from getting to Trump's desk to sign into law.
If they do change the laws for PSLF, it will only affect those in the future. Anyone that signed for a U.S student loan will be eligible due to the fine print on the note at the bottom of the loan.
They need 60 votes for cloture, i.e. to break the filibuster.
“We think it’s safe”, no offense but who cares what you all think? Legally does thinking matter…no only legal facts
Say what?? Can you remix this video into a 1 minute video
This is just a whole can of worms and will most likely create a FUBAR situation that will take years
This is dumb advice because they are NOT PROCESSING plan changes for any plan right now.
I’m having the same thing being told to me
Submitting an application for processing is a proactive measure you can take, not dumb.
He ought not repeal it. I doubt he will..he will repeal SAVE
you are pretty cute!
MOHELA IS THE WORST
Government workers should not get special benefits like 10 yr vs 20 year forgiveness. 20 years is a bulk of a persons life in adulthood. Anyhow, my job as a service technician is needed for many government businesses, healthcare, fire, police, etc... I serve the public every single day. But I do not qualify because I am a contractor. It is like racism but for government employees over non government employees.
Get a government job as a service tech. The salaries are usually not as high as private sector but there are many compensating benefits.
dont worry. 70% gov jobs will be gone accroding to Elon and Vivek.
There are a lot of really stupid people posting stupid things in these comments.
I’m on the IBR and EdFinancial put my account on administrative forbearance. I told them to take me out of forbearance and they told me no. They told me it will stay like this until February. Super frustrating