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18 gru 2023 · 1. The payment count adjustment is automatic for Direct or federally managed FFEL loans—no application required. The payment count adjustment automatically updates the accounts of borrowers with federally managed loans.
- Updates for PSLF Borrowers: Payment Count Availability
In the coming weeks, the Department will show the final...
- Updates for PSLF Borrowers: Payment Count Availability
12 paź 2024 · If you're a student loan borrower paying back your federal student loans using an income-driven repayment (IDR) plan, the Biden Administration's IDR waiver, also known as the IDR account adjustment, was a big deal.
Payment Count Adjustment for Eligible Borrowers. ED will conduct an adjustment of IDR-qualifying payments for all William D. Ford Federal Direct Loan (Direct Loan) Program and federally owned Federal Family Education Loan (FFEL) Program loans. The payment count adjustment will count time toward IDR forgiveness, including.
To fully address past issues with IDR payment counting, FSA will do a one-time revision of IDR-qualifying payments for all Direct Student Loans and federally-managed Federal Family Education Loan Program (FFEL) loans.
In July 2023, the Department will automatically apply the same payment count treatment to all Direct and Department-managed FFEL loans for borrowers who do not otherwise reach the number of months necessary for forgiveness.
Under the account adjustment, any time in repayment after July 1, 1994, will now be counted as IDR-qualifying months, even if you were not enrolled in an IDR plan at the time. This time will also count toward PSLF loan forgiveness as long as you meet the other employment requirements for PSLF.
24 wrz 2024 · In the coming weeks, the Department will show the final updates of the payment count adjustment, an administrative fix that ensures borrowers get credit they have earned toward income-driven repayment (IDR) forgiveness and PSLF.
