PSLF/IDR waiver confusion

Momof5 — Mon, 18 Dec 2023 21:36:38 GMT

I have $123K in SLs. These loans cover my ASN and BSN/MSN education. Part of the total is $23K in Parent Plus loans for my daughter.

I currently work for a qualified PSLF employer. (I worked for them for 37 months, left (less than 2 yrs), and was rehired 1 May). I have made only 3 payments which have all been since the restart after the pandemic. I had 3 general forbearances prior to the pandemic. (Other "forebearances" were for being back in school.)

IDR is a bad thing for me. Payments would increase. So I am on standard. I have not consolidated.

So here are my questions:

1.) If I consolidate, do I include the Parent Plus Loans?

2.) I have applied for the PSLF. So, the pandemic pause was 3 yrs 7 months...or 43 payments. The prior forebearances were 36 months. Total 'payments' 43+36=79. Is that how this is going to be calculated?

3.) From what I read, you have to work for the qualified employer for 10 years. I currently have 3 yrs 9 months. So I have to continue with them for 6 yrs 3 months before the forgiveness?

If the above is true, I would have made 78 payments in $ by the time my employment reaches the 10 years. I would also be 68 yrs old at that point. I guess that would render the forebearances a moot point since 78 payments plus 43 pandemic pause would be 121 "payments". It would save me almost $50k in the last payments/interest.

Where is my understanding incorrect?

Re: PSLF/IDR waiver confusion

Benny2019 — Sun, 07 Jan 2024 23:37:10 GMT

The below group helped me the most when I was going through this process. I found it to be the most informative and supportive group for PSLF.

https://facebook.com/groups/pslfprogramsupport/

Re: PSLF/IDR waiver confusion

KMonique — Thu, 11 Jan 2024 16:04:38 GMT

Did you do the TEPSLF application before 10/1/22? If not, you should have consolidated them all, including the parent plus loan, prior to 12/31/23 to get the IDR adjustment on the entire balance.

topic PSLF/IDR waiver confusion in Student Loans

PSLF/IDR waiver confusion

Re: PSLF/IDR waiver confusion

Re: PSLF/IDR waiver confusion