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Order for Next Steps?


Order for Next Steps?

Hello all. I need some direction on the order of next steps. I have student loans from my master's degree. I will also have 1 year of loans as I finish my PhD in 2025. I would like to apply for PSLF in 2024. We are also hoping to sell our home and buy a new one by this summer. I want to make sure I have everything straightened out with my student loans so that the home buying process doesn't get delayed. 


I worked for university #1 (qualified employer) for 8 years. I was finishing my grad degree during the first two years. I was then on a income driven payment plan ($0). Then it had to be switched to a standard plan when we bought our house. I messed up and didn't switch it back so eventually I went into default. I should have a couple years of qualifying payments, but definitely not 8 years. I applied for Fresh Start in August of this year and was approved. I also applied for SAVE but my loans automatically went into deferment since I am in grad school again (graduate late 2025). Based on the online calculator, my monthly SAVE payment would be $81/month, which is very doable (we make $112k but have 5 kids). This September I started working at university #2 (qualified employer) so I'd rather take the loans out of deferment and pay the $81 so I get credit for these months. Also, having a student loan payment of $0/month will make things complicated when we apply for a new mortgage. 


Is this the correct order of steps?

1. Reapply for SAVE

2. Ask to be taken out of deferment *I'm not sure what order the first two things should be. The standard payment shows $500.

3. Apply for PSLF - loans transfer from AidVantage to Mohela

4. Start paying the $81/month to get credit for PSLF and avoid having a $0 payment. 

Message 1 of 2

Re: Order for Next Steps?

I'm going to share what I ended up doing in case this might help others.


First, I chatted with AidVantage about this. They removed me from deferral status on my loans. I then applied for SAVE on the Student Aid website and was approved (again) within about two days. I then applied there for PSLF, using the tool. I had them send employment verification to my current and past employers (universities) and both quickly responded to those verifications. Now I am just waiting to be approved for the PSLF program and have those loans transferred to Mohela. Current SAVE payment plan is $0/month. 

Message 2 of 2
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