Dept. of Ed loan now eligible for PLSF?

[Cantab109]

Hi all- nitty gritty loan/PLSF eligibility question here. I have mostly federal loans from grad school, but an old loan (FFELP Stafford) that was from the Dept of Education I took out around 2008-ish that is somehow considered private (I don't understand how the DOE is private, but ok). I've been submitting my annual PLSF forms for the federal loans and am pretty far into it (8 years maybe?). However, I got an email that said something along the lines of that old Dept of Ed loan can now be eligible for PLSF, if I consolidate it in with my federal loans, or something along those lines? I wanted to see if others got that email and knew how to make sense of it. I'm nervous to consolidate bc I don't want to lose the progress I made on my federal loans. I am equally hesitant to call the lender and ask them about it because they have given me wrong advice in the past that cost me many years of ineligible repayment, so I'm not sure who to ask about it. This all feels like a foreign language and I hate that this isn't discussed/explained more in detail in school. Thanks in advance!

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[MAClinician]

Someone in the fed government (DOE? Congress? I forget) made a change a few months ago to PSLF program and are allowing folks who did NOT have the correct payment plan to still apply because they realized the original rules were confusing to borrowers and lenders alike. They may have also changed which loans are eligible. But the waiver period ends in October I think. You could probably contact DOE about it. I remember getting an email awhile back about the changes but I don’t remember who sent it.

 

[pediatric_psydoc]

Info on the limited waiver: https://studentaid.gov/articles/take-advantage-pslf-waiver/

 

[JeyRo]

Hi all- nitty gritty loan/PLSF eligibility question here. I have mostly federal loans from grad school, but an old loan (FFELP Stafford) that was from the Dept of Education I took out around 2008-ish that is somehow considered private (I don't understand how the DOE is private, but ok). I've been submitting my annual PLSF forms for the federal loans and am pretty far into it (8 years maybe?). However, I got an email that said something along the lines of that old Dept of Ed loan can now be eligible for PLSF, if I consolidate it in with my federal loans, or something along those lines? I wanted to see if others got that email and knew how to make sense of it. I'm nervous to consolidate bc I don't want to lose the progress I made on my federal loans. I am equally hesitant to call the lender and ask them about it because they have given me wrong advice in the past that cost me many years of ineligible repayment, so I'm not sure who to ask about it. This all feels like a foreign language and I hate that this isn't discussed/explained more in detail in school. Thanks in advance!

If you have an FFEL loan and you've been paying it, and you are otherwise employed at a qualifying institution, yes, you are now eligible for PSLF for as many years as you've been employed at your institution and have been paying your loans.

I'd apply, and do it soon. The waiver ends next year and you want to get your paperwork in sooner rather than later. This is the government we're talking about after all!

 

[BuckeyeLove]

I had one from 2009. Consolidate it with your others. All past payments on it will count towards the 10 years subsequent to consolidation.