Hi everyone,
I pulled my credit reports a couple days ago and have noticed that my student loan balance is now showing $0. Anyone had this happen to them. All I have done is submit my ECF to Fedloan for PSLF. I applied for PSLF back in Feb. of last year and it just updated last month. I am sure the balance will show back I am just curious as to why the balance went to $0. Could that be a sign that my loans have been forgiven? That would be a tremendous shock if that happens to be the case.
Credit_Master
Have you done 120 monthly payments while working for a qualifying non-profit? More specifically, had you done 120 payments back in February when you submitted the form?
If so, then you're done. But for future reference, submitted an ECF and applying for PSLF are two distinct processes. Submitting the ECF gets them to review your employment and update your qualifying payment count. Applying for PSLF gets them to verify that you've hit 120 and begins the full forgiveness process. Previously, they were done when you submitted the ECF form which is why it was such a low approval % before.
If so, then you're done. But for future reference, submitted an ECF and applying for PSLF are two distinct processes. Submitting the ECF gets them to review your employment and update your qualifying payment count. Applying for PSLF gets them to verify that you've hit 120 and begins the full forgiveness process. Previously, they were done when you submitted the ECF form which is why it was such a low approval % before.
as of 1/1/23
