Comments on: Has the Government Successfully Fixed Public Service Loan Forgiveness?

By: Michael P. Lux, Esq.

Michael P. Lux, Esq. — Tue, 24 May 2022 15:25:34 +0000

In reply to Sheila Stokes. Hi Sheila, Unfortuantely, you and your husband have the federal student loan that I consider to be the absolute worst. I've previously shared what makes the commercially-held joint consolidation loans so bad and what borrowers can do. Hopefully it helps you and hour husband.

By: Sheila Stokes

Sheila Stokes — Tue, 24 May 2022 15:20:55 +0000

hello

My husband and I have a joint consolidated spousal loan. We have been making payments on them for over 15 years and because of deferment or forbearance we are still not down to original student loan balances. My husband has worked in public service his whole career. I have for 6 years. We are still married. Everything we try to do in regards to our student loans is stopped right away because it is a joint consolidated student loan. The loan is also commercially held so we got no relief during the pandemic. We would be thrilled to even get his portion of the student loan forgiven. Any help would be appreciated.

By: Michael P. Lux, Esq.

Michael P. Lux, Esq. — Sat, 15 Jan 2022 22:08:21 +0000

In reply to Merissa. I wouldn't assume that the payments will automatically go up, but it could take several months before the update happens, so some patience is required. For now, I think the important thing is that you have your employment certified from before 2017. If you don't have an employer form certifying your PSLF eligible work from 2015, that time won't count. This may sound pretty obvious, but it is worth double-checking while you wait for an update.

By: Merissa

Merissa — Sat, 15 Jan 2022 14:26:18 +0000

Hi there-
Thanks for all of the information you provide. I have almost $200,000 in student loans. I have been on an IBR plan for at least 10 years and have never missed a payment in that time. In 2017 I called Sallie Mae to see about lowering my payments. At that time I was told about PSLF and was advised to consolidate my loans into Direct loans, which I did. I have worked in for qualifying employers for 10 years, so when I heard about the PSLF waiver I thought that my payments prior to 2017 would be counted toward forgiveness and I might even get a refund for making more than 120 payments. I filled out the form and had my previous employers certify my employment. However, Fedloan is saying that only 48 payments (the payments I have made since consolidating into Direct loans) count towards forgiveness. It says this includes payments that may be eligible under the waiver. Should I expect that more of my previous payments will be counted as eligible in the near future, since their website says it could take several months for updated payment counts? I was honestly expecting to have reached forgiveness and Fedloan says I’m in the same boat I was in prior to applying under the waiver. Any advice is greatly appreciated!!