For those pursuing PSLF, they’ve had the added benefit that these months of forbearance have counted toward their 120 qualifying payments required for forgiveness. The economy, however, remains fragile, and many are wondering what will happen as student payments resume in the coming months—not to mention the end of expanded unemployment benefits for millions of Americans.
So what’s the solution? Where do we go from here?
PSLF – Public Service Loan Forgiveness can eliminate all remaining student loan debt for those who have made qualifying on-time payments over ten years. Anyone who is a full-time employee of federal, state, local, or tribal governments; a 501(c)(3) non-profit or certain other public service organizations qualifies.
There has been a lot of excitement and speculation around President Biden’s extension of the moratorium on student loan payments until October. One news source went so far as to publish a recent article titled “Biden’s Student Loan Freeze Shows Path to Erase Billions of Debt.” We know that Biden wants to address the student debt crisis, but we also want to be realistically optimistic about what that means. Your Navigate team is meeting with politicians on the Hill this week to discuss these very issues.
If you are unsure if you should choose to refinance your loans or pursue Public Service Loan Forgiveness (PSLF) follow these steps from the experts at Navigate Student Loans.