Exact Language to Get Max PSLF Forgiveness | PSLF Buyback Updates and Scenarios

[@douglasnieblas74]

I submitted my PSLF Buy Back application last month which was my 120th month of qualified employment. I hope they can get to it in time. I also submitted an employment verification which was processed. Keeping my fingers crossed.

[@erinstaab6307]

If borrowers working towards PSLF forgiveness apply to switch from SAVE to IBR, will they still qualify for the PSLF buyback once they hit 120 months of employment credit? Certain loan advisors are saying that the PSLF buyback only applies to those borrowers who hit 120 months of employment credit during an administrative forbearance (SAVE) vs a processing forbearance (applying for new loan payment plan) or other repayment plan. The outcome is that moving to an IBR repayment plan (to start repayment sooner rather than later) will essentially disqualify you from the buyback opportunity. Thus, do PSLF borrowers have to be in an administrative forbearance when they hit to the 120 month mark to qualify for buyback?

[@angrypoodle51]

No. You can change to IBR and start making payments which count. When you hit the 120 month period (paid months plus forbearance months), you can apply for buyback and pay the forbearance months with a lump sum to get forgiveness.

[@MKdeeva]

I submitted PSLF application back in September. I received an offer on December 12 and paid it that same day. Has anyone been approved after paying their offer for buyback? There wasn’t much instruction. Can you talk more about what happens after you pay the offer? There is no information about the processes at all.

[@angrypoodle51]

Thank you so much. You are so generous! I am enrolled in SAVE. I will be changing jobs in February 2025. I am expected to hit my 120 months by September 2025. Do I reapply for SAVE with my new job or should I switch to IBR? I want to file taxes jointly with my wife and only want my employment, not our household income to be considered.

[@captiv8ed]

I sent in the income recertification form at the end of October and then got a letter stating that they don't need it yet. Should I ask to have it rescinded?

[@discreteentropy]

What happens if add clarifying language in addition to the exact buyback language? Thoughts?

[@JenniferWickstrom-f2n]

Do you think it would be helpful to put the exact months I'm requesting buyback in the application? I will reach 120 in February. What luck, huh? But I haven't been able to pay since May because of the SAVE program and also have not had any time going towards my PSLF because of that. But the buyback would help qualify those months.

[@doragreen3887]

So what about all the people that consolidated to get their payment counts even/up to the highest count- any forbearance of deferment before that consolidation isn’t counted correct? Hoping I’m wrong!

[@tdub226]

You can't buyback any of that before consolidation. It sucks. I'm in the same boat.

[@doragreen3887]

@ darn! My only hope is the ppl doing the processing are as confused as me😂

[@UnknownUnknown-tu3be]

I got an email from Ed financial that I need to recertify income by 02/06. Thoughts?

[@reasonablestevens4364]

Respond back "Get your shit together" then block them.

[@ArloPear25]

@@reasonablestevens4364 yeah, that's helpful

[@nydiaarroyo4664]

Hi, I get the impression that you are working with alot of physicians with high student loan balances. Friendly reminder that some of us out here do not owe an astronomical amount on student loans.