25 year forgiveness?

[CreditWarrior21]

Student Loan Team,

I've been learning so much from you all about repayment of my loans. Quick question on Student Loan Forgivness.

My loans were taken out BEFORE the new Obama 20 year plan. Does this mean that after 25 years of on-time payments the remainder of my loans are forgiven? And do I need to officially signup somewhere for that program or is it just automatic?

I keep seeing IBR plans for this. I am not on an IBR and am lucky enough to just make standard payments. do I need to be on an IBR to qualify for the 25 year forgiveness program?

Thanks so much in advance!

[SCF]

If you are on a standard repayment plan, your loans should be on-track to be paid off before 25 years.  The standard plan is 10 years, but for people with higher total loan amounts, the payment plan may be extended to 15 or 20 years.  When are your loans scheduled to be paid off?

[CreditWarrior21]

Good question... I'm not sure.. I will check right now with my online account. Or email and ask. I appreciate the response!